Pseudo-crypto exchangers in seven regions: UAH 20 million seized, scheme uncovered after a controlled purchase
More than 20 searches were carried out across the country; the suspects impersonated a legitimate service, collecting cash at offline locations
In Ukraine, law enforcement uncovered an extensive network of fake crypto exchange services that, posing as a legitimate service, appropriated clients’ funds across the country, Prosecutor General Ruslan Kravchenko reported.
According to the investigation, in 7 regions more than 20 searches were conducted, as a result of which it was established that under the sign of a currency and cryptoasset exchange service there was in fact a scheme for the illegal appropriation of citizens’ money.
The organizers carefully disguised the activity as a regular business: they created a website, implemented a system for submitting requests, communicated with clients via Telegram and confirmation codes, and also built a network of so‑called cash acceptance points in various regions, which created trust in the allegedly real financial service.
The interaction algorithm with victims was standardized: after submitting a request a “manager” contacted the person, provided the request number, confirmation code and the address of the exchange location where citizens brought cash.
After handing over the money clients received neither cryptocurrency nor a refund, and in response heard explanations about “delays” and postponed operations; during a controlled purchase the scheme participants likewise appropriated 50 thousand hryvnias following the established scenario.
During the searches cash in various foreign currencies and hryvnias totaling more than 20 million hryvnias was seized.
Investigators are preparing notices of suspicion to the participants on charges of fraud committed by prior collusion of a group of persons; identification of all suspects — from organizers to the perpetrators who directly received money from citizens — is ongoing.
