Ukraine shuts fake crypto investment network that drained wallets in 20 countries

  • Ukraine's National Police, Security Service and Prosecutor General said they dismantled a Kyiv-area network of fake crypto investment platforms targeting more than 20 countries.
  • Investigators identified 62 victims, while authorities alleged the network recruited more than 46 Ukrainians and generated up to $1 million in monthly turnover at its peak.
  • Authorities conducted 34 searches and seized more than 100 computers, more than 100 phones, 79 SIM cards, a GSM gateway and 15 vehicles.

Ukraine's National Police, Security Service and Office of the Prosecutor General said they dismantled a Kyiv-area network of fake cryptocurrency investment platforms that targeted people in more than 20 countries, including European Union citizens. Investigators have identified 62 victims from Germany, Poland, Lithuania, Latvia, Spain, France, the UK, Canada and Israel, while the total stolen remains under investigation. Authorities identified the alleged organizer as a 25-year-old IT specialist and said the network recruited more than 46 Ukrainians and generated up to $1 million in monthly turnover at its peak. The group advertised fraudulent projects on Telegram, fabricated investment gains and used a wallet drainer to steal assets when victims attempted withdrawals. It also collected passports, passwords and other personal data. Officers conducted 34 searches and seized more than 100 computers, more than 100 phones, 79 SIM cards, a GSM gateway and 15 vehicles. The case is proceeding under Part 5 of Article 190 of Ukraine's Criminal Code.

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