An explosion in a residential building in Monaco - one of the safest and wealthiest places on Earth - left three wounded and far more questions than answers. Among the injured are Ukrainian oligarch Vadym Yermolaiev (58), his partner Anna Nasobina (46), and their 13-year-old son. Both adults are in intensive care, and the perpetrator, according to the investigation, fled.

French investigators are treating the case straight away as a targeted attack, not an accident. And that's where the story stops being about Monaco and becomes about something much bigger - a world of money, debts, and score-settling that is migrating from the east to the most expensive addresses on the Mediterranean. When a bomb goes off in a building in Monaco, it's not a coincidence; it's a message.

That's exactly how some investigators read the attack - as a warning, not an assassination attempt. Police sources link the case to alleged involvement in call-center fraud worth around 100 million euros, run out of Dnipro in Ukraine. Ukrainian media, in turn, point to territorial disputes and unpaid debts to figures from organized crime.

The hardest line of the investigation is the one French media mention cautiously: possible involvement of Ukraine's security service (SBU). Whether this is a settling of scores between criminal groups, or something with a state signature behind it, no one claims with certainty for now. But merely asking the question shows how thin the line is between private business and state interests in wartime Ukraine.

Yermolaiev's wife, Anna, said briefly that the family is under great stress and is actively cooperating with the investigation and law enforcement. And the story stays open and uncomfortable. Monaco has sold itself for decades as a place where money buys absolute safety - a refuge where the rich shelter from the world. This explosion showed that certain debts travel across borders more easily than any security detail. The question left hanging is a familiar one: who will answer for it, and will anyone even get that far?