The wife of Ukrainian oligarch Vadym Yermolaiev has stated she was not the individual injured in a recent bomb attack in Monaco that left her husband in critical condition. Initial reports had suggested Anna Yermolaiev had suffered severe injuries, including amputation.
Ukrainian media outlet Suspilne reported that it was another woman, who is believed to be the mother of a 13-year-old boy also injured in the blast, who sustained limb amputations. The boy, reportedly the woman's son, was thrown approximately 50 feet by the explosion and is in stable condition at a Nice hospital. Yermolaiev is not understood to have a child of that age, with her youngest son nearing 17.
Vadym Yermolaiev, 56, sustained multiple shrapnel wounds when a backpack bomb detonated in the foyer of his Monaco apartment building. He is currently fighting for his life. Ukrainian police sources suggest the attack is connected to a network of fraudulent call centers in Dnipro, Ukraine, allegedly involved in large-scale financial scams across Europe, defrauding thousands of investors of over €100 million between 2019 and 2022 through fake cryptocurrency schemes. The network also reportedly sold fraudulent divorce advice.
French investigators believe the assassination attempt may have been orchestrated by members of a criminal network in retaliation for a failed agreement to divide territory and unpaid debts owed to organized crime bosses in Dnipro, according to Ukrainska Pravda. While Vadym Yermolaiev, who is subject to sanctions in Ukraine, reportedly handled the financial aspects of the operation, his son Artur is said to have managed the network. Artur Yermolaiev was arrested by Interpol in Cyprus at the end of 2025 following an Estonian arrest warrant, received a suspended sentence, and had millions in criminal assets confiscated.
The Yermolaiev family denies any wrongdoing, asserting that their business activities are legitimate. Vadym Yermolaiev, who amassed his fortune after the collapse of the Soviet Union, fled Ukraine about a decade ago. Ukrainian President Volodymyr Zelensky authorized sanctions against him in December 2023 due to his drinks business in occupied Crimea continuing to operate with Russia. He produces a "geographically protected Crimean wine for the Russians," which is reportedly sold in Europe and the US. Vadym is also a co-owner of Versobank, an Estonian bank whose license was suspended in March 2018 for systematic violations of anti-money laundering legislation.
The family has resided in Monaco in recent years, maintaining a high profile. Vadym Yermolaiev was known for parking his Bentley outside the Monte Carlo Casino, owned a super-yacht, and possessed a high-security villa in Saint-Jean-Cap-Ferrat. He obtained Cypriot nationality in 2019, citing dissatisfaction with the Ukrainian tax system.
The explosion occurred around 9 p.m. on a Monday near the French border, as the victims were apparently returning to their residence. Christophe Mirmand, the minister of state for Monaco, stated that the family appeared to be specifically targeted.
The attack has caused shock in Monaco, a principality known for its high-net-worth residents and crime-free reputation, although it has seen corruption scandals in recent years. Prince Albert II of Monaco condemned the incident as an "odious act" and pledged to work with French authorities to address corruption and maintain security. An aide to France's Interior Minister confirmed that police are actively seeking the perpetrator, who remains at large.