A Criminal Syndicate Masquerading as a Casino: The Pin-Up Case Reaches a New Level

The State Bureau of Investigation (SBI) expands its case against the Pin-Up online casino to the scale of an organized criminal group. On May 28, investigators filed a new indictment against the director of LLC "UKR GAME TECHNOLOGY"—the formal operator of Pin-Up in Ukraine. The charges include participation in a criminal organization, money laundering, tax evasion, and document forgery.

This is no longer just a case of an "illegal casino." The investigation focuses on a global scheme encompassing: Russian gambling market beneficiaries; nominal Ukrainian figureheads; officials who helped create and protect a monopolized gambling sector; illegal crypto flows funding the aggressor state; and a unique case—a sanctioned payment system with Russian ties that served over 70% of the market.

Pin-Up: A Gambling Empire with a Trail to the Kremlin

For years, Pin-Up operated in Ukraine under the guise of a “legal gambling operator.” But behind the front of local licenses and PR campaigns stood a transnational structure headquartered in Russia and Cyprus. In 2024, Ukraine's National Security and Defense Council (NSDC) imposed sanctions on dozens of companies and individuals linked to Pin-Up. In April 2025, President Zelensky called on the U.S. and EU to synchronize sanctions against war financiers—Pin-Up is de facto on that list.

Key figures include: Dmitry Punin, Ivan Bannykov, and Alexander Matyashov—Russian citizens and de facto beneficiaries of the group; Maryna Ilina—public face of Pin-Up Global, alleged head of the Ukrainian wing; Ihor Zotko—a nominal owner of "UKR GAME TECHNOLOGY," in custody since September 2024; Oleksandr Slobozhenko—founder of affiliate traffic company Traffic Devils, under investigation for crypto and money laundering crimes.

Breaking the Scheme

On December 5, 2024, the SBI filed the first indictments in the case. Companies linked to Pin-Up had operated in occupied territories, transmitted geolocation data of users (including Ukrainian soldiers), conducted payments into the Russian budget, and supported “veterans” of Russia’s so-called "special military operation."

Authorities seized over UAH 2.6 billion, some of which has already been used to purchase military bonds. The case is being overseen by the Office of the Prosecutor General. The new charges under Article 255 of the Criminal Code (establishing a criminal organization) allow the investigation to target the entire network of organizers, financiers, IT architects, and state enablers.

DiamondPay: A Shadow Payment Monopoly

A major component of the case is DiamondPay—a payment system stripped of its license by Ukraine’s central bank for links to Russia. According to investigators, DiamondPay serviced up to 70% of the gambling market and was the main conduit for converting revenues into cryptocurrency. The investigation is now examining not only the company’s accounts, but also assets acquired with its profits—real estate, crypto wallets, luxury cars, and land deals.

Extradition on the Horizon

The SBI has announced preparations for the international pursuit of Ukrainian and Russian nationals who fled abroad. These include executives, beneficiaries, legal advisors, and technical coordinators behind the Pin-Up scheme. If extradition is successful, the suspects could face up to 13 years in prison with asset confiscation.

Game Over

The glamorous face of a "legal casino" has been unmasked as the cover for a multilayered criminal operation. After losing control of the media narrative, Pin-Up now claims it is a victim of “business persecution.” But during a war with Russia, no business with Kremlin connections has a future.

The next step: full exclusion of Pin-Up from the international financial system, SWIFT disconnection, personal sanctions against managers, and blacklisting of partners across the EU and U.S.

After Zelensky’s public appeal—there’s no turning back.