Ukraine officials sharpen skills in crypto crime investigations with OSCE training

OSCE reported twelve Ukrainian officials completed a three-day training on investigating crypto and blockchain transactions.

The Organization for Security and Co-operation in Europe announced on Friday, Nov. 22, that it had hosted a three-day training session to strengthen the ability of Ukrainian officials to investigate crypto-related crimes.

Per a press release, the online program focused on equipping participants with the skills to trace illicit activities on blockchain networks. During the course, 12 officials from Ukraine’s National Securities and Stock Market Commission took part in the training, which covered “key topics such as the basics of blockchain technology, the taxonomy of crypto-assets, and the specific methods used for investigating blockchain transactions.”

“The sessions also included interactive tracing exercises with Bitcoin (BTC) and Ethereum (ETH), which allowed attendees to practice identifying transaction patterns and suspicious activities on the blockchain in real time.”

OSCE

The initiative is part of a broader OSCE project funded by Germany, Italy, Poland, Romania, the U.K., and the U.S., which seeks to bolster the ability of participating states to mitigate risks associated with virtual assets, particularly money laundering and financial crimes. Maksym Mishalov Dragunov, assistant project officer at OSCE, says “criminal activity on blockchain networks is rising,” further explaining that crypto offers a “unique advantage” of the ability to facilitate borderless, instantaneous transfers.

In late October, U.S.-based blockchain forensics firm Chainalysis reported that Ukraine saw a nearly 362% increase in large institutional decentralized finance transactions exceeding $10 million in 2023, contributing significantly to its defi growth. The firm also noted similar trends in Russia, Belarus, Poland, and Slovakia, where large institutional transfers were key drivers of defi expansion.