Fake crypto exchanges and $1.2 million damage: large-scale scheme uncovered in Ukraine
The Security Service of Ukraine and the National Police detained the organizer of a crypto scam and ten accomplices in Dnipro. Over the course of a year, the fraudulent scheme caused losses of at least $1.2 million.
The criminals set up several call centers, targeting EU citizens with offers to invest through fake crypto platforms. They showed victims fake growth charts and profit projections to persuade them to increase deposits. When the amounts became substantial, communication was cut off and the money was transferred to the organizers’ crypto wallets.
During nearly 40 searches, law enforcement seized equipment and around ₴21 million. The suspects face up to 12 years in prison with asset confiscation.
