Where did all those state-owned assets from the Soviet Union and the Eastern Bloc go?

The chaebols and the established elite in the former Soviet Union and Eastern Europe are now called "Oligarchs."
Oligarchs are individuals who were Communist Party officials or had ties to them until the 80s; they became capitalists by selling off massive state-owned assets and state-owned enterprises at bargain prices during the process of abolishing communism and then buying them up themselves.
Party officials, who were once "loyal servants of the people," transformed into capitalist tycoons;;
This trend is particularly severe in Russia. Gorbachev wanted to turn the Soviet Union into a social democratic state, and 11 out of the 15 constituent republics wished to remain part of the Soviet Union and participate in a new Soviet Union.
However, conservative party officials who had tasted wealth did not want to remain subordinate to the Soviet Union. Led by Yeltsin, they forced the dissolution of the federation and created a capitalist Russia where a tiny 1% monopolizes the state-owned assets.
The reason Russians have no choice but to hate Yeltsin is that he let go of 10 neighboring countries that wished to remain with the Soviet Union, thereby reducing international influence and turning Russia into a "tycoon hell" without a welfare system. Unlike China's reform and opening-up, where the wealth of the entire nation increased, Russia in the 90s became even poorer than it was during the Soviet era.