How the scheme worked:
– an illusion of reliability. To lull victims into a false sense of security, the scammers created high-quality websites, actively maintained a Telegram channel, officially registered a trademark, and opened a professional-looking office equipped with a cash register;
– “In-person” scam. Customers would submit an online request to purchase cryptocurrency, after which they were invited to the office and asked to hand over cash. The money was taken, but the cryptocurrency never made it to the customers’ wallets;
– Psychological tricks. To prevent victims from going to the police immediately, the scammers used delaying tactics. Some customers were transferred a small portion of the agreed-upon amount in cryptocurrency and given “written guarantees” that the transaction would be completed soon.
In just one of the confirmed cases, the amount of damage totaled nearly 1.6 million hryvnias (620,000 lei). The exact number of victims had not been determined at the time of writing.
As a result of more than 20 searches conducted in seven regions of Ukraine, computer equipment, phones, documentation, and more than 20 million hryvnias (7.73 million lei) in cash were seized.
The organizer of the scheme faces up to 12 years in prison with confiscation of property.
Unlike Moldova, Ukraine’s Verkhovna Rada legalized virtual assets back in 2021, allowing owners of virtual assets to legally trade and declare them.
