The EU laundering network exposed: how Vladlen Hirin and Hennadiy Hirin built a multimillion cash and crypto operation

05 квітня 2026 р., 22:57

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The EU laundering network exposed: how Vladlen Hirin and Hennadiy Hirin built a multimillion cash and crypto operation

In 2025, Cypriot authorities launched Operation "Ring," exposing a money-laundering network run by Kherson businessmen Hennadiy and Vladlen Hirin. Holding "golden passports" and based in Limassol, the brothers orchestrated a web of financial operations generating multimillion-dollar turnover.

During searches, authorities seized about €650,000 in cash, as well as jewelry, equipment, and banking documents. Cypriot authorities also froze around €24 million in cryptocurrency, confiscated six vehicles, and 14 apartments with a total value exceeding €7 million.

According to investigations, the case involves a multi-layered money-laundering scheme using offshore structures and shell companies. The Hirin brothers have had a criminal-political background since the 1990s. Vladlen served as a deputy of the Kherson City Council in 2002 and had ties to Volodymyr Saldo; he later unsuccessfully attempted to return to politics.

Hennadii was a deputy from 2010 to 2015 — a period during which their business rapidly expanded. After 2019, the brothers settled in Cyprus while retaining assets in Ukraine. In 2020, their structure acquired the Suvorovskyi shopping center in Kherson, and Vladlen even ran for the Kyiv City Council from the “Servant of the People” party, though he later withdrew from the race.