Ukraine plans to convert several million dollars' worth of cryptocurrency seized from an alleged international cybercrime group into government war bonds, the first time the country has used confiscated digital assets to support its wartime economy, according to state authorities.

Ukraine's Asset Recovery and Management Agency (ARMA), which manages property seized in criminal proceedings, said more than $8.3 million in cryptocurrency had been transferred to its official digital wallet following a court order.

"This is the first time seized digital assets have been placed under ARMA's management, demonstrating the government's readiness to handle new types of assets," the agency said on Saturday.

The cryptocurrency was obtained during an investigation into an international hacking group accused of carrying out cyberattacks against individuals and companies in Europe and the United States.

Ukrainian law enforcement authorities did not disclose the name of the group and had not responded to a request for comment by the time of publication.

According to the State Bureau of Investigation (SBI), the group stole sensitive information, extorted victims through ransomware and other cybercrime schemes and laundered the proceeds in Ukraine by purchasing real estate, vehicles and other high-value assets.

The SBI said four suspects, including the alleged organizer, had been detained and placed in pretrial detention. Authorities said they had seized more than $11.1 million worth of assets, including residential property, vehicles, $1 million in cash and cryptocurrency valued at more than $8.3 million. Investigators estimate the group's activities caused more than $100 million in losses.

Once the digital assets are converted into traditional currency, the proceeds will be used to purchase Ukrainian war bonds, the SBI said.

War bonds are government debt securities issued by Ukraine to help finance public spending, including defense needs, during the ongoing war with Russia, while paying investors a fixed return at maturity.

"If criminals use digital tools to conceal illicit proceeds, the state must also be prepared to effectively manage such assets," ARMA said in a statement.