In the Khmelnytskyi region, law enforcement uncovered a criminal group that organized a large-scale scam involving fake cryptocurrency. As a result of the perpetrators’ actions, investors from not only Ukraine but also from European and Middle Eastern countries were affected.
This is reported by Finway
Scam Scheme: How the Fraudsters Operated
Four residents of Khmelnytskyi created their own fictitious token, which they actively promoted in the messaging app Telegram. To attract funds, they showcased fabricated profits and a luxurious lifestyle in communities, misleading potential investors. After purchasing the cryptocurrency, investors lost control over their assets, and the funds were withdrawn through anonymous services and converted into cash.
Investigative Actions and Suspicions
During searches in Khmelnytskyi and Kyiv, law enforcement seized computer equipment, cold wallets, handwritten notes confirming illegal activities, as well as luxury cars. At this time, at least five Ukrainian victims have been recorded.
“The organizer and three participants of the scheme have been notified of suspicion under Part 4 of Article 190 and Part 3 of Article 362 of the Criminal Code of Ukraine. The maximum penalty is up to eight years of imprisonment.”
The investigation is ongoing, and law enforcement is identifying other potential victims and circumstances of the crime. It is worth noting that similar cases of international cryptocurrency fraud have been recorded in Ukraine before.