€24 million in crypto, arrests, and luxury in Cyprus: how brothers Vladlen Hirin and Hennadiy Hirin are cleaning the internet after exposure of a money laundering network

08 квітня 2026 р., 17:52

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Following the international Operation YUZUK and the disclosure of details surrounding a large-scale money-laundering scheme, the Hirin brothers reportedly began actively cleaning up the information space. Kherson businessmen Vladlen Hirin and Hennadii Hirin were involved in cryptocurrency operations and are said to have links to an international criminal network.

We, in turn, publish investigations that they are trying to remove from the public space in order to preserve the facts and show the real scale of the Hirin brothers’ activities in international money laundering schemes.

As part of the international operation codenamed YUZUK, conducted by local police in collaboration with Europol, apartments, luxury cars, cash, and 24 million euros in cryptocurrency were seized in Cyprus.

According to the press service of the Republic of Cyprus Police, the operation lasted approximately a year.

According to the police, the criminal money laundering network was led by two brothers from Ukraine who received “golden” passports and resided in Limassol.

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Evidently, the matter concerns Kherson businessmen Vladlen and Hennadiy Hirin, as well as members of their families, whose arrest was reported by MOST back in November.

As stated in the press release, under the leadership of the Kherson businessmen, citizens from third countries delivered cash from various European countries to Cyprus.

Authorities from Cyprus, Croatia, France, Germany, Slovenia, and Spain participated in the YUZUK operation. On October 28, 2024, arrests were simultaneously made in Spain, France, and Slovenia. In Cyprus, 13 search warrants were issued for residential and commercial premises. Cypriot police were assisted by Europol and the Spanish authorities.

During searches in Limassol, more than 650,000 euros in cash and a large quantity of jewelry were found. Mobile phones, gadgets, and banking documents were seized for investigation. Cypriot authorities froze approximately 24 million euros in cryptocurrency and seized six luxury cars valued at over 650,000 euros. The Anti-Money Laundering Unit (MOKAS) confiscated 14 apartments worth over 7 million euros.

As part of the international operation YUZUK:

- 23 suspects were arrested (20 in Spain, 1 in France, and 2 in Slovenia);

- 17 suspects were charged;

- 91 searches were conducted in homes and commercial premises (77 in Spain, 1 in France, and 13 in Cyprus);

- 8.2 million euros in cash were seized;

- 24 million euros in cryptocurrency were frozen;

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- 2 million euros were seized or frozen in bank accounts;

- 36 vehicles were confiscated, including luxury cars;

- real estate, luxury watches, jewelry, and electronic devices were seized or confiscated.

Europol reported that the organized criminal network, predominantly comprising citizens from Ukraine, as well as Armenia, Azerbaijan, and Kazakhstan, provided courier and illegal banking services to other criminal groups.

“Some Chinese citizens also participated in this network, providing money laundering services”, the report states.

The network offered a catalog of “crime-as-a-service” options, which was used by Russian-speaking and Asian criminal elements involved in illegal drug trafficking, tax evasion, or smuggling illegal goods. These crimes were primarily committed in Spain.

Europol also noted that the suspects abused the temporary protection status granted by the EU to Ukrainian refugees since 2022, as well as to other citizens affected by Russia’s war against Ukraine. The services of the Hirins were also used by refugees from Ukraine who brought their savings in cash to Europe to protect them from the effects of the war.

The criminal group exploited exceptions created to facilitate the transfer of money between jurisdictions, moving large sums of cash without detailed questioning or thorough checks during customs procedures.

“Declaring large sums as part of property, “money mules”, some of whom were family members of criminal leaders, regularly traveled between Spain, Cyprus, France, and other countries”, explained Europol.

After the arrest of several couriers transporting cash, the criminal network changed its methods. It shifted from the physical transfer of money to cryptocurrency operations, making it more difficult to trace financial flows.

Preliminary estimates indicate that at least 75 million euros were moved from March 2023 to February 2024.