Ukraine Busts Crypto Fraud Network Targeting EU Victims

Ukraine’s Security Service and National Police dismantled a Kyiv-based crypto fraud network that allegedly targeted EU citizens via Telegram channels, luring victims with fake investment opportunities and cloned crypto websites containing wallet “drainer” code to perform unauthorized withdrawals. Authorities searched 23 locations, seized phones, computers, cash and 16 luxury cars, and say the group — led by a 25-year-old IT specialist and comprising several dozen people — generated up to $1 million in monthly turnover at its peak; the investigation is ongoing.