The cybercrime combating unit of the Ukrainian police has uncovered a network of fraudulent crypto trading websites. Four people are suspected of offering the fake online exchange services. They have maintained at least six platforms luring cryptocurrency traders with deceptive messages.
Police on the Lookout for More Fake Exchangers
Officers from Ukraine’s Cyberpolice have exposed an organized group of scammers who created a network of fake online exchangers offering conversion of cryptocurrencies. According to a press release issued by the National Police, a number of sites have been used to deceive and defraud unsuspecting citizens who wanted to trade their cryptos.
“The criminal group consisted of four people […] possessing specialized knowledge and skills in programming,” the NPU’s press service said. They had set up their own CMS-system to manage the websites’ content. The platforms imitated the activities of legitimate online cryptocurrency exchangers, supporting multicurrency conversion, and even displayed fictitious positive ratings and reviews.
The victims were invited to transfer their money to digital wallets registered with forged identification documents under false names of foreign citizens. After receiving some funds through a particular platform, the scammers would close it and open a new one, law enforcement officials explained.
So far, Ukrainian police have found at least six fake websites: moneycraft.info, swapex.net, myexchanger.lv, iconvex.net, likechange.biz, and wowex.online, Financial Club reports. Most have been taken down already, with one now redirecting to sites with pornographic content. Investigators believe there are more undiscovered websites and have asked the public to report suspicious platforms to email@example.com.
Three of the suspects, aged between 20 and 26 years, have been implicated directly in the six established fraud schemes. They are all residents of the city of Dnepropetrovsk. The police have opened criminal proceedings against them under Section 3 of Article 190 (Fraud) of Ukraine’s Criminal Code.
Officers have already conducted authorized searches at the addresses of the suspects. They have seized computer equipment, including flash drives, as well as bank cards and mobile phones that were used by the scammers. The Cyberpolice unit is currently studying the identified websites to determine the size of the fraud…