In Khmelnytskyi region, a group of crypto scammers who deceived Ukrainians and foreigners was exposed

In Khmelnytskyi region, a group of crypto scammers who deceived Ukrainians and foreigners was exposed

Cyberpolice of Khmelnytskyi region, together with investigators of the Main Directorate of the National Police in Khmelnytskyi region and cybersecurity experts of the Security Service of Ukraine under the procedural guidance of the Khmelnytskyi Regional Prosecutor’s Office, exposed a group of individuals who seized digital assets of citizens of Ukraine, European countries, and the Middle East.

The offenders created their own cryptocurrency and lured investors through thematic communities on the Telegram messenger, where they showcased a luxurious lifestyle and «profitable trading deals,» thereby misleading people and persuading them to invest.

After enticing citizens to invest in their cryptocurrency, the fraudsters blocked buyers’ access to managing the purchased assets and prevented them from withdrawing the digital currency from the crypto wallet to use it at their own discretion. Meanwhile, the offenders laundered the liquidity of digital assets through specialized anonymous services and converted them into cash.

During the documentation of illegal activities, law enforcement officers identified 5 Ukrainian citizens who became victims of the crypto scammers.

The police conducted a series of searches in Khmelnytskyi and Kyiv, as a result of which mobile and computer equipment, devices for offline storage of cryptocurrency, draft records confirming illegal activities, and luxury cars were seized.

The organizer and three members of the group were notified of suspicion under Part 4 of Article 190 (Fraud) and Part 3 of Article 362 (Unauthorized actions with information processed in automated systems) of the Criminal Code of Ukraine. The penalties under these articles provide for imprisonment for up to 8 years. The pre-trial investigation is ongoing.