Ukraine’s National Police Arrest 14 Individuals Involved in Crypto Criminal Network
The National Police of Ukraine have apprehended a group of individuals operating a criminal call center that deceived people with promises of profitable cryptocurrency investments.
According to a local report, the fraudsters targeted citizens from Ukraine, Moldova, Kazakhstan, and the European Union through deceptive call centers.
The national police have arrested 14 suspects, including the alleged organizers, and have seized 12 luxury cars, 136 units of computer equipment, 951 SIM cards, 455 starter packs, and a significant amount of cash totaling $64,500.
Two individuals from Georgia are believed to be the masterminds behind the crypto crime in Ukraine, as per police reports. These suspects have a history of involvement in criminal activities. Additionally, they recruited 12 other unsuspecting individuals to participate in the illegal operation.
Authorities are actively investigating the matter and are working to determine the total amount of the fraud and the number of victims involved.
The Ukraine police have also released video footage of the raids conducted in connection with the crypto call center scam.
“The network of fraudulent call centers was organized by a trusted associate of a criminal known as ‘Hmp,'” the video description revealed.
“Call center employees would convince gullible individuals from various countries to invest in cryptocurrency. The police carried out a special operation to dismantle the criminal organization and apprehend its members.”
The perpetrators posed as stock exchange experts and used psychological tactics to persuade victims to invest their savings in cryptocurrencies. This resulted in victims transferring their funds to the criminals’ electronic wallets and bank cards, according to Ukrainian officials.
Interestingly, each member of the group had specific roles in creating fraudulent schemes, recruiting staff, developing business strategies, and sharing profits among themselves.
The suspects are currently in custody and will be brought before the Kyiv Regional Prosecutor’s Office for further proceedings, authorities confirmed.
Meanwhile, the National Bank of Ukraine (NBU) has reiterated its stance that “crypto is not money” and has expressed its intention to regulate the sector, as stated in January.