Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
FollowingKey Information
Authorities in Ukraine have dismantled a cryptocurrency phishing network that involved more than 46 suspects and victims in more than 20 countries.
The fraudster used fake investment websites and Telegram promotion to clear the assets in the associated wallets through malicious withdrawal rights and international money laundering channels. Police seized computers, mobile phones, cash and luxury cars, and the organizers face 12 years in prison and property confiscation under Ukraine law.
Case details
Ukraine authorities have dismantled a cryptocurrency phishing network accused of stealing digital assets from investors in more than 20 countries. According to the Ukraine National Police, criminals created fraudulent websites that counterfeit real investment platforms.
These websites display false transaction results and convincing success stories to gain the trust of victims, and then require them to deposit cryptocurrency. Investigators have confirmed that at least 46 Ukraine citizens are suspected of participating in the cybercrime activity.
It is understood that a 25-year-old information technology expert from Kiev led the network and managed its technical infrastructure. Organizers set up illegal offices in multiple locations, with employees responsible for maintaining the website and communicating with potential investors. They used forged performance records as real evidence to induce victims to deposit cryptocurrency in expectation of high returns.
Fraud withdrawal process exposed
Victims are at risk when websites require victims to connect to their cryptocurrency wallets before processing withdrawal requests. These connections grant malicious permissions, allowing operators to access wallets and transfer stored assets.
Criminals transfer stolen cryptocurrency into controlled wallets, then transfer it through money laundering channels, and convert part of it into cash. Investigators traced operational databases and transaction records on servers in the Netherlands.
It is worth noting that these servers contain detailed information about damaged wallets, stolen funds, victims, and the network's financial activities. Police and security personnel conducted 23 coordinated searches of offices and residences associated with the suspects. Authorities seized dozens of mobile phones, a large amount of computer equipment, luxury cars and a large amount of suspected criminal funds.
Allegations and cryptographic security measures
Ukraine prosecutors have charged the main organizers with organized crime and large-scale online fraud. If convicted, the suspect could face up to 12 years in prison and property confiscation.
Authorities are identifying other participants while assessing the plan's overall financial losses and its international scope in Europe and other regions. Cryptocurrency users can reduce similar risks by verifying website addresses before connecting to wallets or approving transaction rights. In addition, investors should regularly check wallet authorizations, revoke unfamiliar access rights, and manage high-value assets separately from wallets used online.
