From the ashes of Maidan to Operation Midas, how Ukraine built the continent's most tested anti-corruption ecosystem — and why the people with cardboard signs may have saved it.
Ukraine has fought two wars simultaneously since 2022 — one against Russian tanks on its eastern borders, and another against the kleptocratic networks embedded in its own institutions. The second war is older, less telegenic, and in some ways more structurally consequential. You cannot sustain a modern army, integrate into the European Union, or rebuild a shattered economy on a foundation of endemic corruption. The architects of Ukraine's post-2014 anti-corruption system understood this. So did their enemies.
The story of Ukraine's anti-corruption architecture is a story of institutional design under fire, of reformers and oligarchs locked in sustained combat, and of a civil society that — in July 2025 — proved it would take to the streets under martial law to defend bureaucratic independence. It is worth telling in full.
Ukraine inherited the Soviet governance structure wholesale in 1991. The nomenklatura of the Communist Party transformed, with remarkable speed, into the oligarchic class of the new republic. Privatization — rushed, opaque, and largely captured by well-connected insiders — produced a generation of billionaires who owed their wealth not to markets but to political proximity. Viktor Yanukovych CRI 835 would become the archetype: a president who allegedly extracted an estimated $37 billion from the state before fleeing to Russia in February 2014.
The Revolution of Dignity that toppled Yanukovych was not merely a geopolitical event. It was a demand for a different kind of state. Among its most concrete outcomes was a reform mandate: Ukraine would build independent anti-corruption institutions from scratch, modeled on international best practice, with genuine insulation from presidential control. This was not only a domestic aspiration — it was a condition. The creation of an independent anti-graft agency in 2015 was a key demand from the European Union, the International Monetary Fund, and the United States. The EU refused to implement a visa-free travel regime with Ukraine without this requirement.
Between 2014 and 2019, Ukraine constructed a layered anti-corruption ecosystem that had no precedent in the post-Soviet space. Each institution was designed to fill a specific gap in the accountability chain:
On April 16, 2015, President Poroshenko signed two decrees: founding NABU and appointing Artem Sytnyk as its Director — the winner of an open competition in which 186 candidates had applied. What followed was seven years of institutional combat. Sytnyk calculated that government representatives had made 35 attempts to deprive NABU of its powers during his leadership, and the political pressure continued continuously.
Sytnyk himself became a contested figure. He pursued oligarchs including Ihor Kolomoisky CRI 842 — now in pre-trial detention on fraud and embezzlement charges related to the $5.5 billion PrivatBank bailout — and was described in reform circles as the "Eliot Ness of Ukraine," an untouchable investigator willing to press cases regardless of political cost. Critics, meanwhile, accused him of selective prosecution and political maneuvering. His early attempt to charge Roman Nasirov CRI 700, the former tax chief, ended in failure when Nasirov's wife posted bail and charges collapsed. But NABU's first decade nevertheless produced a body of work: hundreds of indictments, landmark convictions, and — crucially — the institutional infrastructure for something larger.
In April 2022, Sytnyk's term ended. After the competition start was blocked until August 2022, on March 6, 2023, the Cabinet of Ministers appointed Semen Kryvonos as the second NABU Director, selected by a commission including international organization representatives.
"The front is holding — the rear is falling apart."
The pivot point of Ukraine's anti-corruption story in 2025 was not the July protests — it was the 15-month covert investigation that caused them. On November 10, 2025, NABU and SAPO unveiled a massive corruption scheme in Ukraine's energy sector involving embezzlement and laundering of at least $100 million. The scheme centered on Energoatom, Ukraine's national nuclear power operator.
At the center of the scandal was Tymur Mindich CRI 830, a businessman and co-owner of Kvartal-95, a media company founded by Zelenskyy before he became president. The operation Mindich oversaw was brutally simple: two people installed at Energoatom — Ihor Myroniuk and Dmytro Basov — controlled all contracts the company signed with suppliers, from whom they demanded a 10–15% kickback.
Myroniuk CRI 725 and Basov CRI 730 operated under the callsigns "Rocket" and "Tenor" respectively. The money from kickbacks was channeled and laundered through a back office with the help of several associates. Myroniuk, Basov, and others were detained. Mindich and his partner fled the country.
Oleksii Chernyshov, former minister of national unity and Vice Prime Minister, was also charged by NABU and SAPO with illicit enrichment. German Halushchenko, minister of energy from 2021 to 2025, featured prominently in the "Mindich tapes" as someone providing political cover and access to the office of the president. Halushchenko CRI 780 was subsequently charged and taken into custody. Chernyshov CRI 765 was formally charged with illicit enrichment linked to a $400,000 real estate discount scheme.
Then came the political counter-move.
On July 22, 2025, the Ukrainian Parliament adopted Law No. 12414. Initially it appeared to be a procedural bill related to investigations of missing people in times of war. In reality it was hijacked: amendments were submitted that directly targeted the centerpiece of Ukraine's anti-corruption infrastructure.
The law brought the previously independent NABU and SAPO under the control of the prosecutor general — a political appointee, nominated by the president and approved by parliament. The law was rushed through parliament at lightning speed and signed into law by the president on the same day.
Volodymyr Zelenskyy CRI 610 later acknowledged he had not held a public discussion before signing. The backlash was immediate and unprecedented.
For the first time since the full-scale war, people gathered to protest the law. In a movement some called the Cardboard Revolution, participants criticized Zelenskyy's consolidation of power, the move away from European standards, and the growing sense of distance between the government and the people it was supposed to serve. Protesters came with self-made cardboard signs, sharing markers on-site, chanting "Hands off NABU!," "No to dictatorship," and "People are giving their lives for our future, and the authorities are destroying it."
The financial pressure brought to bear in nine days was extraordinary.
The OECD warned that undermining NABU and SAPO would damage the credibility of partners "considering investing in Ukraine's defense sector and long-term reconstruction." The European Commission president called Zelenskyy personally about EU accession implications. US senators wrote a formal open letter. The G7 condemnation came within hours. This was not standard diplomatic language — it was a coordinated, multi-front financial ultimatum, and it worked alongside street pressure to produce a reversal that would have seemed impossible to achieve through normal political channels.
The Ukraine Corruption Risk Index — tracking 120+ politically exposed persons on a 300–850 scale derived from formal charges, investigations, sanctions, and press reporting — captures this history in its scoring. The figures at the center of the July crisis sit in revealing positions.
The architects of the attack: Yermak CRI 788 (resigned after NABU search), Kravchenko CRI 570 (Prosecutor General who stood to gain direct control), Arakhamia CRI 580 (faction leader who voted for the law and faced NABU searches months later) — all scored in Elevated or High bands before the crisis, precisely because their proximity to anti-NABU action and the Operation Midas network had been documented.
Those who defended the system score at the opposite end. NABU Director Kryvonos CRI 345, SAPO Head Klymenko CRI 335, and civil society leaders like Kalenyuk CRI 310 and Zheleznyak CRI 310 — all below 400, reflecting institutional integrity and no documented adverse findings.
The index also traces the downstream consequences: for the first time in NABU and SAPO history, an acting Deputy Prime Minister of Ukraine was implicated in a corruption case — Chernyshov CRI 765. In the first half of 2025, 115 individuals were served with notices of suspicion, including high-ranking officials such as the Deputy Prime Minister. The economic impact of NABU and SAPO's work exceeded UAH 16.8 billion, with UAH 2.8 billion allocated to support the Armed Forces.
The restoration of NABU and SAPO independence in July 2025 did not end the pressure. SAPO head Klymenko said that assaults on the institution had "considerably slowed down their work." Some whistleblowers cut off cooperation and at least one detective refused to pursue a sensitive case out of fear. Prosecutors described a "toxic" atmosphere.
Yermak resigned in November 2025 following NABU searches of his office. His replacement as Presidential Chief of Staff was Kyrylo Budanov CRI 410, the former military intelligence chief who carries 71% public trust ratings and a clean corruption record — a signal, widely read as such, that the political calculus had shifted.
Citizens preserved NABU and SAPO, and in the fall, those agencies exposed the "Barrier" scheme and the high-profile Mindich case. These investigations literally stopped the state from sliding into the abyss of chaos. What is more, 2025 proved that political influence is no longer an indulgence. Today, law enforcement can reach any corrupt actor — a challenge even for developed democracies.
The ARMA reform question remains open. Acting Head Maksymenko CRI 440 failed her competency test in March 2026; the permanent leadership competition is ongoing. The BEB/ESBU, despite Tsyvinsky's eventual appointment, still faces structural pressures. The HACC is processing an expanding docket of Operation Midas cases. Transparency International Ukraine has identified six priorities for 2026, led by unconditional safeguarding of anti-corruption institution independence and better results in confiscating criminal assets.
Ukraine ranked 104th out of 182 countries in the 2025 Corruption Perceptions Index with a score of 36 out of 100 — one point higher than 2024. That +1 is the result of the work of the HACC, NABU, and SAPO — and the result of society's efforts in defending their independence. Small, hard, real.
The cardboard signs are gone from the streets of Kyiv. But the institutions those signs defended are still standing, still investigating, still pressing cases that reach into the highest offices of the state. In a country fighting for its physical survival, that is not a small thing. It may, in fact, be the most important thing.