In the course of the preliminary investigation of the criminal proceeding initiated in the Department for Investigation of Cybercrime and High Technology Crime of the RA Investigative Committee, factual data were obtained on the allegation that S.Gh., having learned about a technical flaw in the software module of the company’s electronic application, which constitutes a computer system, specifically concerning the account-balance verification function when making account-to-card and card-to-card transfers, during the period from December 30, 2024, to January 5, 2025, while having only 92 thousand AMD in his account at the same bank, through the aforementioned application, without authorization provided for by law, contract, or any other lawful basis, 2709 times unlawfully entered different numerical values of transfers, constituting computer data, into the computer system. As a result, due to the aforementioned technical flaw, he generated 802 million 568 thousand AMD in his card account, which, owing to the same technical flaw, was recognized by the system as a successfully completed transaction.   

By the mentioned method, S.Gh. embezzled the amount in particularly large amount - 802 million 568 thousand AMD, belonging to the company, and had the opportunity to dispose of it.

In addition, during the period from January 1 to January 5, 2025, S.Gh., with the intent to conceal the source of the acquisition of the money in particularly large amount - 711 million 511 thousand  AMD, stolen from the company and of clearly criminal origin, to give the stolen funds an appearance of legitimacy, and to evade criminal liability for the theft, taking advantage of the anonymity of crypto-assets and the difficulty of identifying their users, transferred the stolen funds to the accounts of entities engaged in crypto-asset trading in the Republic of Armenia, thereby converting the stolen funds into crypto-assets, while transferring the remaining amount to the card accounts of more than 100 individuals.

By the supervising prosecutor’s decision, public criminal prosecution was initiated against him for committing computer-related theft in particularly large amount and money laundering in particularly large amount. 

S.Gh. was detained. 

In the course of the preliminary investigation 44 million 701 thousand AMD of the damage caused to the state has been recovered. 

The criminal proceeding with respect to him with the bill of indictment was referred to the supervising prosecutor.