• 3,000 firms
  • Independent
  • Trusted
Save up to 70% on staff

News » Ukraine busts criminal crypto call center ring

Ukraine busts criminal crypto call center ring

Ukraine busts crypto call center
Photo from National Police of Ukraine

KYIV, UKRAINE — Ukraine National Police successfully dismantled a sophisticated criminal call center network that lured victims into phony cryptocurrency investments. 

The operation led to the seizure of luxury cars and the arrest of an individual with ties to a notorious criminal figure known as a ‘thief in law.’

Extensive operations and arrests across Ukraine

In a coordinated effort, Ukrainian authorities conducted 40 searches across the country, resulting in the detention of 14 suspects. These individuals are accused of defrauding victims not only in Ukraine but also in Moldova, Kazakhstan, and the European Union. 

The police confiscated 12 luxury cars, 136 units of computer equipment, 951 SIM cards, and $64,500 in funds.

Elaborate crypto investment scam tactics

The criminal network operated by calling victims and posing as employees of a stock exchange. Using sophisticated psychological techniques, they convinced individuals to invest their personal funds into cryptocurrency schemes. 

The stolen funds were then funneled into digital wallets and bank cards controlled by the criminals.

Organized crime links and hierarchical structure

Among those detained were two key suspects, aged 49 and 51, who are believed to have orchestrated the entire operation. 

They allegedly managed a network of call centers and employed 12 other members. Each accomplice had specific responsibilities, including planning the fraud, hiring personnel, and gathering information on their targets. 

The funds obtained from the scam were distributed among the group, with some members reportedly using the money to support the ‘criminal community.’

One of the organizers is said to have worked closely with a ‘thief in law’ known as ‘Khmyelo.’ 

The term ‘thief in law’ originates from the Russian ‘Vory v Zakone,’ referring to a high-ranking member of a criminal organization. This connection underscores the deep-rooted ties between the call center network and organized crime.

Ukraine’s crackdown on cybercrime and fraud

In a translated announcement, Ukrainian police emphasized the scale and impact of the operation. 

“This is a significant step in our ongoing efforts to combat organized crime and protect our citizens from fraudulent schemes,” stated a police spokesperson.

The successful raid highlights the Ukrainian authorities’ commitment to cracking down on cybercrime and protecting the financial interests of individuals across multiple countries. 

The investigation is ongoing, and further details are expected to emerge as authorities continue to unravel the full extent of the criminal network.

Read more here.

Start your
journey today

  • Independent
  • Free
  • Transparent

About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO)

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between Philippines outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 900+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.

“Excellent service for outsourcing advice and expertise for my business.”

Learn more
Banner Image
Get 3 Free Quotes Verified Outsourcing Suppliers
3,000 firms.Just 2 minutes to complete.
Learn more

Connect with over 3,000 outsourcing services providers.

Banner Image

Transform your business with skilled offshore talent.

  • 3,000 firms
  • Simple
  • Transparent
Banner Image