Add as a preferred source on GoogleUkraine-Germany Police Dismantle Scam Network Tied to €4.3 Million Losses
Police identified 135 German victims and conducted 56 searches in August and September, seizing more than $90,000 in cash and hardware crypto wallets.
The Cyber Police Department of the National Police of Ukraine said Nov. 6 that Ukrainian and German authorities dismantled an investment scam network tied to more than €4.3 million in losses involving 135 identified German victims.
The department said suspects posed as brokers and financial advisers, directing victims to fake trading platforms that offered cryptocurrency, shares and other financial instruments. Victims were also helped to open crypto-exchange accounts, buy digital assets and transfer them to accounts controlled by the criminal organization. Proceeds later moved through multiple exchanges and transit wallets, the department said.
Police conducted two rounds of searches in August and September, totaling 56 locations: 39 in August and 17 in September. They seized more than $90,000 in cash, hardware crypto wallets and other evidence.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.