Scam involving three global crypto exchanges exposed: Bohdan Prylepa
Bohdan Prylepa, accused of embezzling funds from cryptocurrency exchanges and collaborating with Russian intelligence, faces international investigations and potential life imprisonment for fraud and treason.
It all started when Bohdan Prylepa, the owner of the cryptocurrency exchanges Coinsbit, Tidex, Godbit, NOTAI, and Qmall, was placed on the wanted list in Ukraine for embezzling over a billion hryvnias from clients. The money stolen by Prylepa and his accomplices was intended for purchasing drones for the Armed Forces of Ukraine.
Ukrainian law enforcement agencies placed Prylepa on the wanted list. Prylepa is also accused of running scams on cryptocurrency exchanges and misappropriating client funds. As a result of his criminal activities, the Tidex and Coinsbit exchanges have already been declared insolvent and labeled as scams by CoinGecko. Patex is expected to follow suit.
Due to the non-payments on Coinsbit and Tidex, hundreds of people across Europe have been affected, with a particularly high number of victims in Germany and Poland.
Criminal cases have been opened for fraud and the theft of client funds, and searches have been conducted. The collapse of Patex is “on the horizon,” where Prylepa raised $8 million from investors. He collected these funds in the United Arab Emirates, where his office is located. In the UAE, a license is required for such activities, and taxes must be paid, which Prylepa failed to do, thus violating the laws of that country as well.
It is also known that the CEO of Godbit, who was pumping one of Prylepa’s projects, has already been arrested. The meme coin NOTAI crashed after the arrest of his associate; the bots that allowed for price manipulation were disabled, causing the coin to lose nearly all its value almost immediately. Therefore, it is quite likely that criminal cases will not only concern the scam of the exchange but also manipulation related to the coin, which lost all its value after the bots were turned off.
Prilepa used Natalia Pidpletko to raise money, sending her to the Acura Capital fund to sell them 10% of the project's shares, which in fact did not exist. And also used his technical directors Pavel Shidlovsky and Andey Saranenko in withdrawing and managing cryptocurrency funds.
In turn, Acura Capital executed a fictitious deal to attract other investors. Where $8 million were attracted. It is worth noting that at the moment the token price has fallen by half from the pre-sale price.
As a reminder, Bohdan Prylepa was previously named the main suspect in a large-scale crypto fraud. The “businessman” embezzled a billion hryvnias that were intended for purchasing drones for the Armed Forces of Ukraine.
Furthermore, Prylepa’s accomplices are under investigation: Saranenko, Shydlovskiy, Ivanov, Podpletko, Mazolyuk, and Vorobyov. These individuals allegedly helped block users’ funds on the cryptocurrency exchanges and transfer them to external accounts for personal gain.
When Russia launched its full-scale invasion of Ukraine, Prylepa quickly fled to Dubai. He relocated his IT companies there. While Ukrainian defenders fight for their country, Prylepa enjoys a luxurious lifestyle on the beaches of the UAE, frequently posting photos on social media.
However, by the end of 2023, clients of his cryptocurrency exchanges had begun filing a surge of complaints about the blocking of their funds. Amounts ranged from $300 to $30,000 – and this is just what has come to journalists’ attention. Currently, the chat rooms of the exchanges are filled with demands from defrauded investors, seeking to have their money returned.
The investigation also suspects him of collaborating with Russian intelligence services. Specifically, after fleeing to the UAE, Prylepa established connections with Russian criminal organizations operating under the guise of the FSB. Investigators suspect that Prylepa’s actions were not only fraudulent but could also be considered treasonous, as he effectively aided Ukraine’s enemies.
The investigation is ongoing, and Ukrainian law enforcement agencies are closely cooperating with their European counterparts. In addition to the evidence obtained through searches, international organizations have also joined the investigation into Prylepa’s activities. If all allegations are confirmed, Prylepa risks facing a life sentence.
