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Ukraine police arrest crypto-fraud suspects

Police in Ukraine have shut down a call center network allegedly run by cybercriminals who posed as legitimate dealers in cryptocurrency, gold, and oil to cheat people there and in the EU out of money.

The crooks were operating in undisclosed locations in Ukraine, from where they used “high-tech equipment and software” to mimic state-owned banking institutions to defraud European citizens, said Ukraine police.

Police arrest alleged cyber gangsters in call center
Men and women belonging to a suspected cybercriminal gang are arrested at an undisclosed location in Ukraine.

“In the course of the investigation, it was established that the employees of call centers presented themselves as employees of state banking institutions and extorted confidential data from citizens' bank cards,” police said.

They added that the ringleaders used dummy websites and cryptocurrency exchange platforms “to attract funds from foreign citizens, guaranteeing the receipt of excess profits in a short time.”

Police also believe some of the fraudsters targeted victims in foreign countries who had already fallen foul of cybercrime, in this case offering to return stolen cryptocurrency for a commission before vanishing once the fee was paid.

During the bust police seized computers and mobile phones which they say contains evidence of crimes committed by the alleged cyber-gang, including databases detailing the cryptocurrency theft victims.

The arrested suspects face up to 12 years in prison if found guilty.

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