The National Police of Ukraine uncovered a large-scale criminal scheme that allowed scammers abroad to profit from the trust of foreigners—primarily citizens of Latvia
Following a multi-stage international special operation, law enforcement was able to dismantle a group of fraudsters who, over several years, defrauded foreign investors of more than 6 million hryvnias. This information is contained in a statement by the press service of the National Police of Ukraine. According to police data, the group operated throughout 2022, launching a vast fraudulent scheme based on fake cryptocurrency platforms and a network of call centers. The scammers created several counterfeit brokerage websites that externally resembled legitimate trading resources in an unparalleled way, aiming to deceive potential clients. When users landed on these fake platforms, trusting individuals unwittingly became participants in the criminal scheme. Official sources indicate that the scammers intensified their "international" fraud activity through an extensive network of call centers located within Ukraine. Operators employed specialized techniques involving phone calls and aggressive advertising of pseudo-investment services on social media and messaging apps. The criminals used psychological influence and social engineering to lure victims into the trap. The "attractive" offers included promises of guaranteed profits in cryptocurrency, prompting victims to respond quickly to requests for transferring funds. A key method in the scammers’ "reclame" was the coercion to install and run remote access software on victims’ devices. This allowed them not only to control the investors’ technical assets but also to obtain confidential and financial information. After receiving the funds, the scammers legitimized them by registering as individual entrepreneurs and obtaining "payments" under covert cover stories in sectors supposedly related to computer services. Following the investigation, officers of the National Police established that the total loss suffered by Ukrainian and foreign citizens exceeded 6 million hryvnias. Operatives and cyber police, in cooperation with foreign colleagues, collected valuable digital evidence—from network traces to virtual asset movements—tracking transactions from victims’ wallets to the final destinations of the illicit funds. The operational efforts were significantly intensified by law enforcement agencies. With the support of the TacTeam special unit of the Department of Patrol Police of Ukraine, over 30 comprehensive searches were conducted across various regions of the country. Premises believed to be used by suspects, as well as vehicles and offices, were thoroughly inspected. During the searches, law enforcement seized valuable equipment: servers, computer hardware, crypto wallets, mobile phones, handwritten notes, bank cards, flash drives, and luxury cars purchased with criminal proceeds. All seized assets were placed under court detention. The organizers and executors of the fraudulent scheme have already received notices of suspicion for committing fraud—under the Criminal Code, effective until August 11, 2023. The law stipulates up to 12 years of imprisonment with confiscation of property for this offense. As part of the pre-trial process, investigators requested and obtained court orders to keep the suspects in custody or under round-the-clock house arrest. The investigation involves not only Ukrainian investigators but also international law enforcement partners from several countries, enabling tracking of virtual asset movements, identification of fund withdrawal channels, and uncovering all those involved in the criminal network. The pre-trial investigation continues to establish all circumstances and identify individuals directly involved in the criminal activities. Additional legal qualifications for the organizers and employers of the fraud network may also be pursued. Police statements demonstrate a firm stance in combating cybercriminals and scammers exploiting foreign trust and creating artificial schemes for profit. Ukrainian law enforcement emphasizes that measures are ongoing, and those involved in the criminal activities will be held accountable. This coordinated effort among international law enforcement agencies reflects a serious commitment to stopping cybercrimes and restoring foreign investors’ trust in the secure Ukrainian cryptocurrency and financial markets.