4 Ukrainian citizens suspected of operating at least 6 fraudulent cryptocurrency exchanges have been arrested on June 16. The men created platforms that imitated legitimate cryptocurrency exchanges, thus offering scam trading services. The victims were investors interested in buying tokens, who were asked to transfer money into digital wallets registered under forged identification documents through the fake trading sites, according to the press release. The uncovered crime group consisting of skilled programmers set up their own CMS-system to manage their networks. After police were informed of the fraudulent activity, all devices, including computers, mobile phones, hard drives and bank cards, used by the swindlers, were confiscated for a further investigation.
The police have opened criminal proceedings against them under Section 3 of Article 190 (Fraud) of Ukraine’s Criminal Code, but the total amount stolen still isn’t established.