• The police announced the shutdown of a call center that defrauded citizens of Ukraine and the EU under the guise of investments in cryptocurrency, securities, and foreign exchange markets.
  • At any given time, about 60 operators could be working there, and the organizer’s monthly profit could reach $500,000.
  • During the raids, law enforcement officers seized approximately $30,000, nearly 500 phones, and more than 1,000 pieces of computer equipment.

Law enforcement officials shut down a fraudulent call center in Lutsk, whose employees offered citizens the opportunity to invest in cryptocurrency, securities, and foreign exchange markets. According to preliminary data, the organizer may have earned up to $500,000 in profit each month.

Police stated that the operators posed as financial analysts, brokers, or representatives of international investment companies. They offered potential victims extremely high returns on their investments.

People were persuaded to register on specially created trading platforms and make an initial deposit. In their personal accounts, the system artificially displayed balance growth and supposedly profitable trading transactions, after which clients were encouraged to invest increasingly larger sums.

In some cases, victims were encouraged to take out loans to increase their investments.

When people tried to withdraw funds, they were told they had to pay additional “taxes,” “insurance premiums,” or “transaction fees.” After another payment—or if a client refused to pay—their account was blocked, and all communication with representatives of the “investment company” ceased.

In reality, the funds received were immediately transferred to controlled transit crypto wallets. To maintain secrecy, the suspects used internet telephony and VPN services.

What did the police seize?

According to law enforcement, the organizer and some of his accomplices lived in Lviv and managed the Lutsk office through proxies. Law enforcement conducted searches at the call center, the suspects’ residences, and locations where equipment was stored.

  • approximately $30,000;
  • 468 cell phones;
  • 214 SIM cards from Ukrainian and foreign carriers;
  • more than 1,000 pieces of computer equipment;
  • 193 devices containing data;
  • network storage devices;
  • video surveillance equipment;
  • a Lexus car;
  • drafts containing pre-written texts in foreign languages.

The total estimated value of the seized property and equipment is 10 million hryvnias.

Law enforcement officials are currently identifying all individuals involved in the call center’s operations and determining the circle of potential victims. The issue of placing the seized property under arrest is also being resolved.

We previously reported that a crypto-fraud network with a monthly turnover of 100 million euros was dismantled in Europe.

The article “Investments in Cryptocurrencies”: A Fraudulent Call Center with $500,000 in Profits Was Shut Down in Lutsk first appeared on INCRYPTED.