International registers, government databases and open sources reveal the complex, multi-faceted governance structure of the popular Ukrainian crypto service Trustee Plus and its founder, Vadym Hrusha. Although the project is positioned as a convenient tool for managing digital assets, its legal framework, registration jurisdictions and the actual location of its senior management are scattered across the globe. This creates additional risks for users, particularly against the backdrop of recent regulatory restrictions.
A check of the UK’s Companies House register revealed that there is not a single director or owner in the UK with the surnames Hrusha, Zhytomyrska, Kutsenko, Kalashnikov, Demyanenko or Kukuyetu. Nor are the companies MikePay, Trustee or BlockSoftLab listed there. The only UK entity linked to this chain is Wirex, which acts solely as the issuer of the new payment card. Consequently, the founders do not have a reliable UK legal shield.
Meanwhile, the situation in Panama is different: although Vadym Hrusha himself is not listed as a director of any local company, the owner of the app on the App Store and Google Play is MikePay Inc. Its officers include Mykhailo Kutsenko, Danylo Demyanenko, Lyudmyla Kukuyetu, as well as a local nominee director. However, the true ultimate beneficial owner of this company remains concealed in publicly available data. Previously, the service provider for Trustee Wallet was also the US-based entity Blocksoftlab Inc. from the state of Delaware, whose owners are likewise not disclosed.
The European service provider is the Lithuanian company UAB Trustee Global. It recently moved its registered office from Vilnius to Šiauliai. Vadym Hrusha has been managing this legal entity since early January 2026; however, the local business service Rekvizitai rates the company’s credit risk as the highest. According to Lithuanian registers, the sole shareholder is a foreign individual whose name is not specified in publicly available records.
As for the Ukrainian arm, Trust Global LLC was registered in Vinnytsia on 1 December 2022. The ownership structure is as follows: 75 per cent is held by Vadym Hrusha, and 25 per cent by Dmytro Kalashnikov. However, after the platform operator came under Polish sanctions, Ukrainian users began to face new legal challenges.
The question of the Trustee’s actual place of residence remains open and contentious. The Ukrainian Wikipedia still states that he lives and works in Vinnytsia. At the same time, in 2026, during a meeting with the Young Business Club, the founder himself stated: ‘I don’t have a permanent place of residence at the moment, but Vinnytsia is the best city in the world.’
“The people managing the app for Ukrainian users are scattered across Ukraine, Poland, Portugal, Croatia and Cyprus. The app’s legal owner is based in Panama, the operator is in Lithuania and subject to Polish sanctions, and the bank account is in London. Meanwhile, users whose funds have been frozen have nowhere to turn: none of these addresses is an office where anyone is accountable for the money,” according to an analysis of public registers.