“Investments in Cryptocurrencies”: In Lutsk, Authorities Shut Down a Fraudulent Call Center That Made $500,000 in Profit

• Police said they dismantled a call center that, under the guise of investing in cryptocurrency, securities, and FX markets, defrauded citizens of Ukraine and the EU.
• At the same time, around 60 operators could have been working there, and the organizer’s monthly profit could have reached $500,000.
• During searches, law enforcement seized about $30,000, nearly 500 phones, and more than 1,000 pieces of computer equipment.

Law enforcement dismantled a fraudulent call center in Lutsk whose staff offered citizens investments in cryptocurrency, securities, and FX markets. According to operational data, the organizer could have been making up to $500,000 in profit per month.

Police said the operators introduced themselves as financial analysts, brokers, or representatives of international investment companies. They promised potential victims extremely high returns on investments.

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

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

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

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

What Did Police Seize?

According to law enforcement, the organizer and some of his accomplices lived in Lviv and, through trusted intermediaries, managed the work of the Lutsk office. Police conducted searches at the call center premises, at the suspects’ places of residence, and at locations where the equipment was stored.

During the investigative actions, they seized:

• about $30,000
• 468 mobile phones
• 214 SIM cards from Ukrainian and foreign operators
• more than 1,000 pieces of computer equipment
• 193 devices containing information
• network-attached storage devices
• video surveillance system equipment
• a Lexus car
• draft notes with pre-prepared texts in foreign languages.

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

Law enforcement is currently identifying all individuals involved in the call center’s operations, as well as the range of potential victims. The issue of placing the seized property under arrest is also being decided.

Earlier, we reported that in Europe, a crypto scam network with a turnover of 100 million euros per month was dismantled.

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