Maxym Kryppa Continues Buying Up Kyiv

On May 22, 2025, Ukraine's Antimonopoly Committee granted approval to Citadel Ventures Cyprus Limited to acquire control of A.T.V.T. Business Expo Holdings Ltd, a company that owns 50.04% of the Limited Liability Company "International Exhibition Center" (IEC).
This decision means that Maxym Kryppa, the beneficiary of Citadel Ventures, is set to gain significant influence over Ukraine’s largest exhibition complex. The total area of the IEC exceeds 73,000 square meters, with more than 38,000 square meters of exhibition pavilions. The complex is of strategic importance: it has hosted international forums, security summits, military exhibitions, and major business events. In peacetime, it serves as the main venue for large-scale presentations; in wartime, it is a potential logistics hub, humanitarian aid center, or mobilization facility.
Who Sold?
As of May 2025, the ownership structure of LLC "International Exhibition Center" is as follows: • 50.04% belongs to the Cypriot company A.T.V.T. Business Expo Holdings Ltd, whose acquisition by Citadel Ventures Cyprus Limited was approved by Ukraine’s Antimonopoly Committee. If the deal closes, Kryppa will control the largest exhibition venue in Ukraine. • 12.49% is owned by Anatolii Tkachenko, the center's director, and another 12.49% by Olena Tkachenko. • 24.98% is held by the venture fund "Asborn," whose beneficiary is Maryna Dorokhina, daughter of well-known commercial real estate developer Vagif Aliyev.
In 2024, the IEC showed positive momentum — its revenue grew by 71% to ₴83 million, although it still operated at a loss of ₴7.1 million.
What Prompted the Sale?
Against the backdrop of war and declining business activity in the exhibition sector, strategic properties often end up in the hands of players with unconventional capital origins — usually offshore, opaque, but with access to regulatory decisions. For existing shareholders, this may be a convenient way to lock in gains or mitigate risks in an uncertain environment. In this context, Kryppa’s offer — even without transparency — may have appeared attractive due to its speed and guaranteed political backing.
Who Is Citadel Ventures Cyprus Limited?
This Cypriot offshore company is linked to Maxym Kryppa, a Ukrainian businessman frequently associated with shadow gambling interests and media assets. According to YouControl, Kryppa is also the beneficiary of dozens of companies in Ukraine and abroad. Among the assets reportedly linked to him: • Parus Business Center (Mechnykova Street); • Hotel Ukraina on Independence Square; • Hotel Dnipro; • the media and esports project Maincast; • a stake in NAVI (Natus Vincere), Ukraine’s most recognized esports team; • the online casino brand Vulkan and the betting platform GG.Bet (via LLC "GGBET" and LLC "Conqueror").
Where Does the Money Come From?
Despite the scale of investments, the origin of Maxym Kryppa’s capital remains unclear. Most transactions occur through offshore jurisdictions, and the companies he controls do not publish financial statements, undergo independent audits, or disclose funding sources. Kryppa is directly associated with the Vulkan online casino network, betting platforms GG.Bet, the Maincast media project, and the NAVI esports team. In recent years, his influence has also expanded into the media sector: several Ukrainian outlets — after ownership changes — have significantly softened their editorial stance and adopted a tone overtly loyal to the President’s Office.
In the business community, Kryppa is often referred to as a "wallet of power" due to the systematic support he receives from politically loyal structures, allowing him to operate beyond reputational or regulatory scrutiny, even with ties to gambling and offshore operations.
His operational model reflects the typical architecture of opaque influence: offshore control, acquisition of undervalued or iconic assets, tax minimization, and presence in regulated sectors such as gambling, media, and esports.
Information Attacks
To shape his public image, Maxym Kryppa deploys aggressive SEO strategies — mass production of fake biographies, press releases, and articles that flood Google search results. These materials, created via affiliated media outlets, content farms, and pseudo-news platforms, systematically drown out critical information.
Independent journalists and editorial teams investigating the source of his wealth have reportedly been subjected to cyberattacks — including DDoS assaults, automated scraping, and vulnerability scans. Some platforms have also documented negative SEO attempts aimed at suppressing or removing investigative content from search engine rankings.
Together, these tactics create an "information fog" — Kryppa becomes almost invisible to public oversight, while promoting a mythologized narrative about his sports career, education, and so-called "first million."
International Attention
The situation surrounding the acquisition of iconic infrastructure assets has gained new urgency in light of recent statements by U.S. officials. During a public hearing in Congress, U.S. Secretary of State Mark Rubio emphasized that all tranches of American aid to Ukraine will be subject to independent auditing. Particular scrutiny will focus on potential money laundering and non-transparent asset acquisitions.
Control over critical infrastructure by individuals with offshore financial histories, gambling ties, and audit avoidance — as in the case of Maxym Kryppa — could attract sanctions scrutiny by OFAC (the Office of Foreign Assets Control, U.S. Treasury Department).
If suspicious financial flows are confirmed, such assets may be designated as high-risk, and related transactions frozen internationally. This is not merely a matter of domestic transparency, but a key factor in maintaining international trust in Ukraine during wartime and under ongoing Western support.