The Ukrainian National Police recently launched an investigation into a criminal call center network responsible for scamming individuals with false promises of profitable cryptocurrency investments.
According to reports, the fraudsters operated call centers that targeted citizens from Ukraine, Moldova, Kazakhstan, and the European Union.
In a significant breakthrough, authorities have apprehended 14 suspects, including the purported masterminds behind the operation. Additionally, they have confiscated 12 high-end vehicles, 136 pieces of computer equipment, 951 SIM cards, 455 starter packs, and a substantial sum of cash amounting to $64,500.
Two Georgian Nationals Organized Ukraine’s Crypto Crime
According to police reports, authorities suspect that two individuals from Georgia played a key role in orchestrating the cryptocurrency scam ring. These suspects, known to have ties to criminal networks, are believed to have recruited 12 others into the illicit operation.
Officials emphasized their active pursuit of the case, aiming to ascertain the full extent of the fraud and the number of victims affected.
In connection with the investigation, Ukrainian police released video footage of the raids conducted on premises linked to the cryptocurrency call center scam.
The description accompanying the video highlighted that one of the masterminds behind the fraudulent call center network had close ties to a criminal figure known as ‘Hmp’, suggesting the involvement of organized crime elements. Call center staff allegedly targeted unsuspecting individuals from various countries, enticing them to invest in cryptocurrency. The police undertook a specialized operation to disrupt the criminal organization’s activities and apprehend its members.
The perpetrators adeptly posed as seasoned stock exchange experts, leveraging their guise to lure individuals into investing their personal savings in cryptocurrencies.
Additionally, police elaborated on how the fraudsters employed psychological manipulation tactics to persuade victims of the investment’s lucrative potential, ultimately leading them to transfer funds to the criminals’ electronic wallets and bank accounts.
Interestingly, each member of the group assumed distinct roles within the fraudulent operation, from devising schemes and recruiting staff to outlining the “business” framework and distributing profits among themselves.
Currently serving jail time, the suspects will soon face proceedings at the Kyiv Regional Prosecutor’s Office, according to authorities.
Meanwhile, the National Bank of Ukraine (NBU) reiterated in January its stance that cryptocurrency “is not money” and expressed its commitment to regulating the sector.
