Ukrainian law enforcement has halted the activities of an organized criminal group that created a fictitious financial platform and call center in Kyiv, aimed at defrauding citizens from the European Union under the guise of investing in the stock market, cryptocurrencies, and shares of “promising” companies.
This is reported by Finway
Operation of the fake exchange and the scale of the fraud
According to the investigation, the criminals created online platforms where they showcased “successful” investment results to potential investors, offering high profits. A key element of this scheme was the Kyiv call center, where about 20 people worked. Call center managers contacted potential clients, persuading them to invest funds in cryptocurrencies and securities, while VIP client managers installed special software for remote access to clients’ computers. This allowed the perpetrators to control investors’ computers and display fictitious profits.
Among more than 30 affected EU citizens, five invested over 8.2 million UAH in “cryptocurrencies.” All the funds obtained were transferred to cryptocurrency wallets and cashed out at capital exchange points.
Details of the investigation and evidence seizure
During the special operation, law enforcement conducted 21 searches, including at the call center office, in vehicles, and in the residences of the suspects. As a result, over $1.4 million, more than 5.8 million UAH, and 17,000 euros in cash were seized, along with technical equipment, documents, and information carriers obtained through criminal means.
The police noted that the suspects “launched ‘trading’ on the stock market, attracting new participants with high profits.”
The case is being investigated under part 5 of Article 190 of the Criminal Code of Ukraine. Three group members have already been notified of suspicion, and the police have applied to the court for their detention. The suspects face up to 12 years in prison.
This case is yet another in a series of criminal cases related to fraud in the cryptocurrency market. In particular, in May 2023, a network of illegal exchanges for money laundering was dismantled, in March 2024, a channel for the illegal transportation of men abroad for crypto assets was stopped, and in October 2025, a scheme for creating fake cryptocurrency was uncovered in Khmelnytskyi, affecting investors from Europe and the Middle East.