The Security Service of Ukraine and the National Police have dismantled a network of crypto fraudsters in Dnipro who defrauded EU citizens
The Security Service of Ukraine and the National Police, together with law enforcement agencies of the Republics of Latvia and Lithuania, have shut down an organised group that defrauded European Union citizens.
The leader of the criminal organisation and ten of his accomplices were detained in Dnipro. According to the investigation, a network of fraudulent call centres operated in the city from November 2023 to February 2026. Their operators misled EU citizens through targeted advertising with fictitious offers of crypto investment.
The victims were promised high returns on investments in cryptocurrency platforms. To make it more convincing, clients were shown an online platform that imitated the work of a cryptocurrency exchange. It displayed falsified graphs of asset growth and profitability. In reality, this data was fabricated.
At the initial stage, clients were offered to deposit a symbolic amount. After that, they were shown instant dividends, which prompted them to transfer larger amounts to controlled accounts and electronic wallets. As the investment amounts grew, contact with the victims was severed and their contacts were blocked. The funds were then legalised through financial transactions.
According to law enforcement, the bad guys got at least $1.2 million in illegal income over the year.
During 40 searches of offices and homes, almost 21 million hryvnias, over 40 laptops and mobile phones, computer equipment, bank cards, crypto wallets, rough notes with conversation scripts, logins, passwords and personal data of the victims, as well as 8 cars were seized.
In accordance with Article 208 of the Criminal Procedure Code of Ukraine, 11 people were detained, including a 32-year-old organiser and a 28-year-old co-organiser. The detainees were notified of their suspicion under Parts 1 and 2 of Article 255, Parts 4 and 5 of Article 190, and Part 3 of Article 209 of the Criminal Code of Ukraine.
The suspects are in custody. They face up to 12 years in prison with confiscation of property. The investigation is ongoing to identify all participants in the scheme.
