Ukraine Scammers Use Fake Crypto Exchanges to Dupe Victims of Millions

A complex scheme involving fake cryptocurrency exchanges was uncovered in Ukraine.

The scammers created professional-looking websites, maintained an active Telegram channel, and even opened a physical office to make their operation appear legitimate.

The victims were asked to hand over cash at the office, but the promised cryptocurrency never materialized.

To prevent immediate reporting to authorities, some customers received a small portion of the agreed-upon amount in cryptocurrency and were given written guarantees that the transaction would be completed soon.