Authorities in Monaco and southern France have launched a major manhunt after a parcel bomb exploded at a residential building in Monaco, seriously injuring a wealthy Ukrainian businessman and two others.
According to French media reports, the victims include Vadym Yermolaiev, a Ukrainian-born real estate developer, along with two family members. Officials have not yet formally confirmed their identities. Monaco’s public prosecutor, Stéphane Thibault, said two of the victims remain in critical condition at a hospital in Nice, with a woman reported to have suffered the most severe injuries.
The explosion occurred shortly before 9:00 p.m. local time on Monday at an apartment building on Rue Révérend Père Louis Frolla, near the French border. Monaco’s government confirmed that the blast was caused by a parcel bomb, while Minister of State Christophe Mirmand said the explosive device appeared to contain bolts and metal pellets, indicating an intention to cause maximum harm.
Investigators are treating the case as attempted murder, not an act of terrorism. Authorities believe a single suspect carried out the attack and fled on foot into the neighbouring French town of Beausoleil shortly after the explosion. A large-scale search operation involving more than 100 police officers and emergency personnel is ongoing.
Surveillance footage reportedly shows a man leaving a backpack in the lobby of the residential building moments before the explosion. Four additional people were treated at the scene, including one for shock and three for minor injuries caused by shattered glass from nearby shops.
Prince Albert II of Monaco condemned the attack, calling it a “heinous crime” and describing it as a shock to the principality. Government officials also noted that such an attack is unprecedented in Monaco’s modern history.
Vadym Yermolaiev, 58, is a Ukrainian-born businessman originally from Dnipro who later became a Cypriot citizen after renouncing his Ukrainian citizenship in 2019. He has significant investments in real estate and the alcohol industry, including business interests in Russian-annexed Crimea. Since 2023, he has been under sanctions imposed by the Ukrainian government. In 2020, Forbes Ukraine ranked him among the country’s wealthiest individuals, with an estimated fortune of $230 million.
Authorities have not yet announced a motive for the bombing, and the investigation remains ongoing.