Ukrainian Cryptocurrency Scammers Busted, Facing Up to 12 Years in Prison
A group of individuals in Ukraine used Telegram channels and social media to scam people into investing in cryptocurrency. The suspects promised significant profits, but required victims to pay a 'commission' and a 'profit tax' to receive their earnings.
The Cyber Police and investigators from the Kharkiv region uncovered the organized fraud group, which comprised residents of Kremenchuk and Cherkasy aged between 24 and 27 years. The suspects used social media platforms to find victims, who were misled into believing they would earn substantial profits through cryptocurrency trading.
The police conducted 27 searches at the suspects' residences, seizing computer equipment, mobile phones, and bank cards worth approximately 750,000 hryvnias. The indictment for fraud against seven perpetrators and the organizer has been sent to court, with the accused facing up to 12 years in prison.