Ukrainian police dismantle crypto scam ring that used fake investment platforms and wallet drainers
Ukrainian police and the Security Service of Ukraine (SBU) said they had dismantled an international crypto fraud network that used fake investment platforms to steal funds from victims. The scheme showed fabricated gains on screen to build trust, then prompted users to connect real wallets during a withdrawal "verification" step. That action triggered a wallet drainer, allowing the group to empty funds instead of processing withdrawals. According to the authorities, the operation generated as much as $1 million a month. Investigators have identified at least 62 victims across more than 20 countries, while more than 46 Ukrainians are believed to have been involved in the group’s operations. Police said the platform also collected passport details, phone numbers, email accounts, login credentials and personal photos during registration and identity checks. Investigators traced the group’s infrastructure to servers in the Netherlands and obtained a database containing victim lists, wallet addresses, allegedly stolen amounts, internal communications and operating procedures. Ukrainian police and the SBU then carried out 34 searches in and around Kyiv, seizing more than 100 computers, more than 100 phones, 79 SIM cards, documents, cash and 15 vehicles. The investigation is ongoing.








