What happened
In Dnipro, law enforcement together with colleagues from Latvia and Lithuania conducted an international special operation VENI, VIDI, VICI and uncovered a network of call centers that defrauded EU citizens through crypto investing schemes. Eleven people were detained; preliminary estimates indicate nine citizens of Latvia and Lithuania were affected, and losses exceed 8 million UAH.
Together with our partners we carried out a large-scale operation, as a result of which 11 people were detained and evidence of illegal activity was seized.
— Ruslan Kravchenko, Prosecutor General
How the scheme worked
Investigators distinguish two stages of the scam. The first — pseudo-investing: operators called foreigners, posing as brokers or platforms, asked for remote access to devices, created the illusion of growth in fake applications and occasionally returned small amounts to persuade victims to invest more. When a victim tried to withdraw funds, contact was cut off.
The second stage — the so‑called asset recovery: the same people offered “legal help,” sent forged documents and videos, and lured additional money under the guise of commissions or insurance payments. The obtained funds were converted into cryptocurrency and withdrawn through a network of controlled persons.
Scale and evidence seized
During 30 raids authorities seized equipment and documents, including 41 mobile phones, 46 laptops, 4 tablets, server equipment, crypto wallets, bank cards, and cash in various currencies totaling more than 21 million UAH. All participants have been charged with large‑scale fraud, money laundering and forming a criminal organization. Ten suspects were ordered held in custody without the right to bail; one was placed under round‑the‑clock house arrest due to health reasons.
Why this matters for Ukraine and its partners
This case is an example of transnational criminal business that uses technology for mass fraud. First, it causes direct harm to citizens of partner countries and risks complicating relations if such cases go unanswered. Second, the scheme exposes classic vulnerabilities: social engineering, remote access and rapid conversion into crypto assets. For economic security and the financial sector’s reputation, it is important that such investigations lead to swift court decisions and the return of assets to victims.
What’s next
The investigation continues — law enforcement is examining electronic evidence and laundering networks. The story is also a signal to banks, payment services and users: there is a critical need for better information‑sharing between government bodies and international partners, improving citizens’ digital literacy, and rapid blocking cooperation between jurisdictions.
In short: a large‑scale international operation stopped a network that defrauded Europeans via crypto; equipment and funds were seized; the case demonstrates the need for coordinated actions to counter crypto‑money laundering and cyber fraud.
