An explosion at the entrance of a residence in Monaco has injured three people, including a reported Ukrainian construction tycoon, in an incident that has shaken one of the world’s wealthiest and most heavily surveilled enclaves. Authorities say the suspect who planted the device acted alone and remains on the run after fleeing across the border into France.

A Targeted Attack

Monaco’s chief prosecutor, Stéphane Thibault, told reporters on Tuesday that the person responsible for the blast had acted alone and was still at large. Police in the principality have opened an attempted murder investigation into Monday night’s events, though they are not treating it as terrorism. The motive, officials said, remains unclear.

The toll was severe. Among the three injured is a woman in life-threatening condition, while a man is no longer considered to be in danger and a child’s life is not at risk. The prosecutor did not release the victims’ identities.

The Suspect’s Escape

Surveillance footage captured the suspect’s getaway in detail. According to investigators, he left immediately after the explosion on foot, using a set of stairs to slip away down a small street into the neighboring French town of Beausoleil.

An image pulled from CCTV cameras and published by French media shows the suspect walking through a street in a black jacket, light-colored pants, white shoes, and a black hat pulled down to partly hide his face. In a principality blanketed by thousands of cameras, that footage has become central to the search.

Who Was Targeted

Media reports identified one of the injured as Ukrainian construction tycoon Vadym Yermolaiev. According to the Ukrainian news site Ukrainska Pravda, Yermolaiev was placed under Ukrainian sanctions in 2023 over alleged ties to Russia.

Christophe Mirmand, Monaco’s minister of state, told French broadcaster LCI on Tuesday that the injured woman was being treated at a hospital in Nice. Her partner and a 13-year-old child sustained less severe injuries but remained hospitalized.

The explosion struck around 9 p.m. on Monday at the entrance of a residence near the French border. According to Mirmand, surveillance footage showed the three victims apparently returning home peacefully in the early evening, only to be caught in the blast as they crossed the threshold of their apartment building.

Signs of Premeditation

While the victims are described as regular residents of Monaco, authorities have not yet determined whether the family had faced any prior threats. Even so, Mirmand stressed that the attack appeared deliberate, saying it seemed the family had been specifically targeted.

That conclusion is supported by the suspect’s behavior before the explosion. According to surveillance footage, the alleged perpetrator had walked around the area several times while waiting for the victims to arrive, suggesting careful planning rather than a random act.

Shock in an Elite Enclave

The attack has stunned the small Mediterranean principality, long regarded as one of the safest places on earth. Prince Albert II condemned it as an odious act and said all of the country’s services had been mobilized to ensure security.

Monaco’s reputation for safety rests in large part on its extensive surveillance network, with thousands of CCTV cameras covering most public spaces. A coastal playground for the rich and famous, the principality is known as much for its tax-friendly policies and its Formula 1 Grand Prix as for its glamorous royal family. Its population of roughly 38,000 is highly multinational, with only about a fifth holding actual Monégasque citizenship.

The Man at the Center

Yermolaiev, a Ukrainian-born businessman originally from the city of Dnipro, built his fortune through the Alef Group, a diversified holding company with interests spanning commercial real estate, manufacturing, and agriculture. He rose to become one of Ukraine’s best-known property developers, leading projects that reshaped parts of Dnipro’s city center, and has regularly featured in rankings of the country’s wealthiest businesspeople.

His circumstances grew more complicated over the years. In an interview with Forbes Ukraine, Yermolaiev said he had renounced his Ukrainian citizenship and become a Cypriot citizen in 2017. Then, in December 2023, Ukrainian President Volodymyr Zelenskyy imposed sanctions on him as part of a broader package targeting individuals and companies that Kyiv said had business links to Russia or Russian-occupied territories.

An Investigation Still Unfolding

For now, key questions remain unanswered, from the suspect’s identity and whereabouts to the reason behind the attack. With the perpetrator having crossed into France and a victim still fighting for her life, the investigation spans an international boundary and carries the weight of an unusually shocking event in a place accustomed to calm.

As Monaco’s authorities pore over surveillance footage and pursue leads, the incident stands as a jarring breach of the security that has long defined the principality, leaving residents and observers alike searching for answers.