The investigation, led by the National Police of Ukraine in cooperation with the Security Service and the Office of the Prosecutor General, exposed a network that functioned with the precision of a legitimate enterprise. A 25-year-old IT specialist allegedly organized the scheme, recruiting over 46 individuals to staff offices in Kyiv and the surrounding region. These teams managed platform infrastructure, engaged in customer communication, and provided security for the operation, which included armed guards for the organizer.
Fraudsters lured potential investors through Telegram advertisements, promising high returns on crypto projects. Once registered, victims were directed to connect their wallets to the platform, where they viewed fabricated dashboards showing consistent investment growth. When users attempted to withdraw their funds, the trap snapped shut. Operators demanded a verification procedure that required users to approve a test transaction. This step activated a wallet drainer, granting the attackers authorization to empty the victims’ assets.
Law enforcement conducted 34 raids, seizing over 100 computers, 100 mobile phones, and 15 vehicles. Investigators also secured a database hosted on servers in the Netherlands, containing internal records and correspondence that linked the group to victims in countries including Germany, Poland, Spain, the UK, and Canada. While 62 victims have been identified, authorities expect this number to grow as they continue analyzing the recovered data. The suspects now face charges under Article 190 of the Criminal Code of Ukraine, as police work to determine the full scope of the financial losses.
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