As part of an international special operation, Ukrainian law enforcement, in cooperation with foreign colleagues, uncovered a criminal group that defrauded Latvian citizens of over 6 million UAH by soliciting investments in cryptocurrency through bogus brokerage platforms.
Source: National Police
It has been reported that the offenders operated since 2022, organizing a fraudulent scheme disguised as cryptocurrency investments. They created fake brokerage platforms that visually resembled legitimate trading websites. Operations with potential victims were organized through an extensive network of call centers across Ukraine.
Investigators found that the perpetrators actively promoted their pseudo-investment services through social media, employing social engineering techniques and promising extraordinary profits. Simultaneously, the fraudsters pressured victims into installing remote access software, granting them control over victims' devices and access to their financial data.
To launder the illegally obtained funds, group members registered as individual entrepreneurs and received payments supposedly for services in computer programming.
It is indicated that the National Police investigators have established that the total amount of damages to victims exceeds 6 million UAH.
Ukrainian cyber police, together with foreign colleagues, documented the illegal activities of the criminal group, gathered digital evidence, and traced the movement of virtual assets from victims' wallets to the final recipients.
Law enforcement, with the support of TacTeam special forces of the Patrol Police Department, conducted over 30 searches in several regions of Ukraine at the locations of the criminal activities, residences of the suspects, and in vehicles.
Seized items included computer equipment, server hardware, cryptocurrency wallets, mobile phones, handwritten notes, bank cards, flash drives, as well as luxury vehicles purchased with stolen funds. The court has imposed a seizure on the confiscated assets.
The organizer and three executors have been charged with fraud (under the version of the Criminal Code that was in effect until 11.08.2023). The article's sanction provides for up to 12 years of imprisonment. Upon the request of investigators, the court has chosen preventive measures in the form of detention and round-the-clock house arrest.
Pre-trial investigations are ongoing to identify all individuals involved in the illegal activities. The police indicate that additional legal qualifications may be possible.