Ukrainian cyber police, together with Czech law enforcement agencies, have uncovered a crypto investment scam. As part of an international operation in Prague, searches were conducted at the home of a suspect who defrauded a man of over $655,000.
Ukrainian cyber police, together with Czech law enforcement agencies, have uncovered a crypto investment scam. As part of an international operation in Prague, searches were conducted at the home of a suspect who defrauded a man of over $655,000.
This was reported by the Cyber Police Department and the National Police of Ukraine under the procedural guidance of the Prosecutor General's Office.
According to the investigation, between 2023 and 2025, the attacker convinced the victim to invest money in cryptocurrency, promising passive income. The funds received were converted and transferred to crypto wallets that the fraudster actually controlled. To hide the origin of the money and make it difficult to track it, he constantly moved assets between different services and cryptocurrency toggle switches.
During searches at the suspect's residence in Prague, computer equipment, mobile phones, hardware crypto wallets, data carriers, bank cards, and financial documents were seized.
The perpetrator faces punishment under Part 5 of Article 190 (Fraud on an especially large scale) of the Criminal Code of Ukraine. This is punishable by imprisonment for a term of 5 to 12 years with confiscation of property.
