Kyiv Crypto Ring Dismantled for Stealing Millions from EU Citizens

A Kyiv-based cryptocurrency ring has been dismantled by Ukrainian authorities, who claim it drained EU citizens' wallets of up to $1 million per month.

The Security Service (SBU) and National Police investigated a network of dozens of people who posed as cryptocurrency-platform representatives to lure victims into investing in fake projects.

Targets were sent links to counterfeit sites with malicious code that allowed the operators to withdraw funds from the victims' wallets, emptying them.

During searches, authorities seized phones, computers, and 16 high-end cars worth over $1 million. The organizer could face up to 12 years in prison and confiscation of property.