Monaco authorities are conducting a manhunt for a suspect who detonated a makeshift bomb at the entrance of a residential building on Monday evening, injuring three people including Ukrainian business tycoon Vadym Yermolaiev. The explosion occurred near the French border in the wealthy Mediterranean principality, renowned for its affluent residents and status as a tax haven.
The device exploded just before 9 p.m. as the three victims—Yermolaiev, a woman, and a 13-year-old boy—were entering the building. The woman sustained severe injuries leading to the amputation of both legs and remains in critical condition at a hospital in Nice, France. Yermolaiev and the boy were also hospitalized with less severe wounds including burns and shrapnel injuries. Authorities have not publicly confirmed the relationship between the woman, the teenager, and Yermolaiev, though reports suggest they were returning home together. Yermolaiev's wife, Anna, who has denied being the injured woman, said the family is under significant stress and cooperating with the investigation.
Monaco’s prosecutor Stéphane Thibault said the suspect fled on foot across the border into the neighboring French town of Beausoleil. Surveillance footage reportedly shows the individual approaching and leaving the scene alone, and police have launched an attempted murder investigation but do not consider the blast a terrorist act. Monaco’s Minister of State Christophe Mirmand described the bombing as a "deliberate explosion" and noted the suspect had loitered near the site prior to the attack, suggesting it was a targeted act.
Vadym Yermolaiev, 58, originally from the Ukrainian city of Dnipro, is a prominent entrepreneur known for his extensive investments in real estate, manufacturing, and agriculture through the Alef Group. His wealth has made him one of Ukraine’s most notable business figures. He renounced Ukrainian citizenship in 2017—or 2019, according to some reports—and acquired Cypriot citizenship. The Ukrainian government sanctioned him in December 2023 over alleged business activities linked to Russian-held Crimea, an allegation Yermolaiev denies, asserting no wrongdoing or pro-Russian sympathies.
Yermolaiev’s eldest son, Artur, was arrested in Cyprus last year on fraud-related charges involving call centers targeting Europeans and was extradited to Estonia, though he has since been released on bail.
Monaco’s Prince Albert II condemned the bombing as a "shock to the entire Monegasque community," emphasizing the rarity of such violent acts in the principality. Ukrainian authorities confirmed that their embassy in France is coordinating with Monaco’s law enforcement agencies regarding the incident. The motive behind the attack remains under investigation as police continue the search for the perpetrator.