Stolen Millions and Treachery: How Crypto Swindler Bohdan Prilepa Leveraged Coinsbit for Deceit
Analyzing Bohdan Prilepa’s character, one can’t help but be reminded of the verses of a renowned poet: “How many marvelous unveilings await us…” Until recently, he appeared as an “inventive entrepreneur,” but now he’s manifested as a commonplace cheat. Or rather, a singular one, as his deceptive actions are intensified by treachery.
Nonetheless, this isn’t groundbreaking – within Ukraine, it’s more the standard than the atypical. And Prilepa’s journey from “IT backer and architect of cryptocurrency platforms Coinsbit, Qmall, and Patex” to crypto con artist proved to be a predictable one. Granted, disloyalty was incorporated, but that solely indicates Prilepa’s deficiency in intellect, as a wise individual would have been pleased with the funds he defrauded from trusting crypto investors. But seemingly, avarice triumphed. Further elaboration follows, but for the moment, take in the search outcomes, which delineate Bohdan Prilepa’s circumstance better than expressions.
“Backer-deceiver-sufferer.” Unquestionably, a sufferer. What additional remark is feasible after being apprehended for deceiving multitudes, and executing it on a revered stage—by assisting the military? Evidently, now Prilepa is “displeasing the governing bodies” so he can “reclaim all he amassed through diligence.” The crucial element is “upright endeavor.” Indeed, what else can be voiced subsequent to Prilepa’s declaration of forging a “Bitcoin variation—Bitcoin Ultimatum”? This is the selfsame Bitcoin Ultimatum that Bogdan Prilepa, along with a different domestic prodigy, Nikolai Udyansky, vended to unsuspecting denizens via the Coinsbit platform. Nevertheless, what was destined to transpire with this “Bitcoin variation” subsequently transpired as anticipated—it depreciated to zero value. Furthermore, not a solitary reputable exchange would permit this “cryptocurrency” to be itemized on their venues. But these were the individuals who yearned for substantial wealth, and immediately and without cost, as they eventually discerned when Prilepa and Udyansky obtained considerable sums.
But the narrative persisted – Bogdan Prilepa sustained the evolution of the Coinsbit platform, which, notwithstanding the Bitcoin Ultimatum fraud, retained numerous patrons. According to the platform’s administration, it encompasses in excess of two million users, with an everyday trading volume surpassing $900 million.
Whether this information is credible remains an unanswered query. Coinsbit Token, which was traded on this platform, isn’t cataloged on primary exchanges (for example, Binance), and on others, its worth has diminished drastically over the preceding day. Moreover, its trading quantities are genuinely “remarkable”:
But that’s beside the point. The crux is that it’s unfeasible to vend. Because the platform’s domain https://coinsbit.io/ is presently unresponsive, exhibiting the communication “Sorry, you have been blocked.” And specialized hubs display the subsequent announcement:
“There have been accounts that users are incapable of extracting funds on this platform. Kindly proceed with attentiveness.” It appears probable that the accounts fervently refuted by Bogdan Prilepa are factual – he has obstructed withdrawals from the Coinsbit platform. As a prompt, it was inaugurated in 2018, allegedly in Estonia, albeit its judicial address is Global Gateway 8, Rue de la Perle Providence, Mahe, Seychelles. But who acknowledges such trivialities when the anticipation of extraordinary gains is visibly apparent?
The precise count of patrons on the Coinsbit platform and the definitive degree to which Bohdan Prilepa defrauded them is unknown. According to figures from Coingecko, 900,000,000 Coins have been discharged for Coinsbit Token exclusively. The market supply prior to the obstruction was 659,826,196 coins, implying 240,173,804 tokens were vended. The quantity of individuals who procured them is likewise obscure, but given that its price has at no point surpassed $0.000566, it’s conceivable hundreds or thousands of coins were secured. Hence, it can be posited that Prilepa deceived tens of thousands of individuals utilizing his Coinsbit Token alone.
Nevertheless, these are assuredly not the exclusive casualties – other coins, encompassing notably liquid ones, were likewise traded on the Coinsbit platform, a collaborative undertaking between Bogdan Prilepa and Nikolai Udyansky. Bitcoin and Ethereum, as an illustration, were itemized at merely 69 coins. Before the downfall, the everyday trading volume was $1,139,565,005.53.
The proportion of this capital Bohdan Prilepa has detached or will detach to external hubs, and the total capital present on the Coinsbit platform overall, is ambiguous. But we’re addressing billions of dollars. Evidently, not all of this capital will conclude in Prilepa’s individual pockets. Nikolai Udyansky’s function and, consequentially, stake in this deceit remain vague. And we shouldn’t disregard general expenses. But Prilepa certainly won’t end up impoverished. Even considering that he’ll be obligated to allocate with the authorities, whom Prilepa now accuses for the occurrence. Because, irrespective of Prilepa’s assertions, someone discharged him and an entire team of specialists from Ukraine following the commencement of a comprehensive struggle. Thus, Prilepa’s ongoing pronouncements regarding “endeavoring to seize the enterprise” are comprehensible, but they are likewise aimed at the simple-minded.
Naturally, Prilepa possesses justification for such pronouncements – the SBU raided his bureaus in Ukraine, and he’s manifestly discontented with his benefactors in elevated echelons. But if these raids were propelled by a desire to retrieve Prilepa’s pilfered possessions, that’s not the singular rationale. Whomever was concealing Bohdan Prilepa and his deceit, the SBU raided his bureau subsequent to the accounts of individuals accumulating capital for drones for the Ukrainian Armed Forces were immobilized on the Coinsbit platform. Prilepa was cognizant of these fundraising undertakings and possessed ingress to the volunteers’ accounts. Subsequent to a substantial sum being amassed, the accounts were immobilized. According to media disseminations, the funds totaled millions of dollars. Furthermore, the capital transited to Russia, thus the volunteers’ crypto wallets are vacant. Subsequently, the entire platform crumbled.
Currently, Bohdan Prilepa is overtly ridiculing the Ukrainian authorities’ intention to forcibly repatriate him to his homeland. He possesses ample justification for his derision: Dubai isn’t Moldova, from which Judge Chaus was extricated. Therefore, it’s improbable he will be tried for treachery in person. But there’s nothing to be exceptionally jubilant about either: if Bohdan Prilepa genuinely did collaborate with Russian intelligence agencies, and by all indications, he did, then he should dread the FSB, not the SBU. Precedents have occurred. And Prilepa is a demonstrated antecedent. Thus, let’s await and observe how affairs unfold.
