Prosecutor General Ruslan Kravchenko reported the exposure of a network of crypto exchangers that were robbing people across Ukraine
Law enforcement officers uncovered a network of crypto exchangers that, under the guise of a legal currency and crypto asset exchange service, seized citizens' funds. This was reported by Prosecutor General Ruslan Kravchenko.
As part of the investigation, over 20 searches were conducted in seven regions of Ukraine.
As the Prosecutor General noted, the scheme was disguised as a legitimate business: there was a website, an application system, Telegram communication, confirmation codes were used, and exchange points operated in various regions of the country. Everything was organized to create the impression of a real financial service.
At the same time, after handing over cash, clients did not receive either cryptocurrency or a refund of their money.
During the documentation of the crime, participants of the network, as reported by the Prosecutor General, seized 50,000 UAH within an undercover purchase using the same scheme.
According to the investigation, after a person submitted an application on the website, a company manager contacted them, providing the application number, individual confirmation code, exchange point address, and other details.
After that, clients came to the designated exchange points, handed over money, which the offenders appropriated, while the victims received only formal explanations and indefinite delays.
During the searches, law enforcement officers seized cash in various currencies totaling more than 20 million UAH.
Currently, as Ruslan Kravchenko reported, suspicion notices are being prepared for the exposed participants of the scheme for misappropriation of others' property by fraud, committed by a group of persons by prior conspiracy.
"In the modern financial world, scammers also look 'modern.' But fraud remains fraud, even if it is presented as a new crypto exchanger. If a person hands over money and receives nothing in return, this is not a business model but a subject of criminal proceedings," said the Prosecutor General.
He added that the investigation is ongoing, and law enforcement officers are identifying all persons who ensured the operation of this platform—from the organizers to those who directly received funds from the victims.
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