In Odesa, law enforcement uncovered a large-scale international fraud scheme, under the guise of which the perpetrators disguised themselves as an investment business in the field of cryptocurrency and traffic arbitration. The organizers offered citizens the opportunity to invest money in fake online platforms created to attract funds under the pretense of lucrative investments.
This is reported by Finway
Hundreds of Victims and Multi-Million Losses
According to the investigation, over 1500 individuals fell victim to the fraudulent network, including foreign citizens. The total amount of losses is estimated in the millions of hryvnias. Through just one of the organizers’ addresses, over 24 million hryvnias were transferred between 2024 and 2025. Financial flows were quickly redirected to cryptocurrency wallets that were not linked to known exchanges, significantly complicating the tracking of funds.
Structure of the Criminal Group and Features of the Scam
The group was led by a 28-year-old resident of Odesa, who gathered several accomplices around him. The scheme involved an IT specialist who developed and administered the websites of the fictitious companies, as well as call center employees. The latter convinced potential investors of the reliability of their investments by showing them personal accounts with fake dividends. To complicate detection, the names of the companies were regularly changed.
The organizers disguised the fraud as investments in cryptocurrency and traffic arbitration.
The scale of the scam prompted law enforcement agencies from Ukraine and Kazakhstan to create a joint investigative group. During searches involving special units, evidence of criminal activity was seized. At this stage, losses amounting to 92 thousand dollars have been documented from seven investors from Ukraine, Kazakhstan, Armenia, Kyrgyzstan, and other countries.
Law enforcement detained eight members of the group, while one more has been declared wanted. All suspects have been charged with fraud committed in conspiracy, under martial law, and in particularly large amounts. According to part 5 of Article 190 of the Criminal Code of Ukraine, the defendants face up to 12 years of imprisonment with confiscation of property.