As part of an international multi-stage operation, Ukrainian police, in collaboration with foreign colleagues, uncovered a criminal group that defrauded citizens of Latvia out of over 6 million UAH by offering cryptocurrency investments through fake brokerage platforms.
Source: National Police
Details: It has been reported that the offenders have been operating since 2022, organizing a fraudulent scheme masquerading as cryptocurrency investments. They created counterfeit brokerage platforms that visually resembled legitimate trading websites. Interaction with potential victims was organized through an extensive network of call centers located in Ukraine.
It was established that the perpetrators actively promoted their pseudo-investment services through social media, employing social engineering techniques and promising exorbitant profits. At the same time, the fraudsters persuaded victims to install remote access software that granted them control over the victims' devices and access to their financial data.
To launder the illegally obtained funds, group members registered as individual entrepreneurs and received payments allegedly for services in the field of computer programming.
Currently, investigators from the National Police have established that the total amount of losses for the victims exceeds 6 million UAH in equivalent.
Ukrainian cyber police, in collaboration with foreign colleagues, documented the criminal activities of the group, collected digital evidence, and tracked the movement of virtual assets from the victims' wallets to the final recipients.
Law enforcement, with the support of the TacTeam special units of the Patrol Police Department, conducted over 30 searches in several regions of Ukraine at locations linked to the criminal activities, residences of the suspects, and in vehicles.
Computer equipment, server hardware, cryptocurrency wallets, mobile phones, notes, bank cards, flash drives, and luxury vehicles purchased with stolen funds were seized. A court has imposed a freeze on the seized assets.
The organizer and three executors have been charged with fraud (under the Criminal Code as it was before 11.08.2023). The article's sanction prescribes up to 12 years of imprisonment. By the request of the investigators, the court has chosen preventive measures in the form of detention and round-the-clock house arrest for the suspects.
The pre-trial investigation is ongoing, and all individuals involved in the illegal activities are being identified. The police note that additional legal qualifications may be applied.
