14.07.2025
2 min
760
Ukrainian and German law enforcement agencies dismantled a network of fraudulent call centers whose members stole more than €4.3 million by posing as cryptocurrency and stock investment advisors. At least 135 German citizens fell victim to the scam, and the arrests included the organizer of the criminal scheme.
Operation Trade was carried out by officers from the Cyber Police Department, the Main Investigation Department of the National Police of Ukraine, and German law enforcement agencies. According to investigators, the scammers established a network of call centers across Ukraine, where operators posed as financial advisors and persuaded people to invest in cryptocurrencies, stocks, and other financial instruments.
To carry out the scheme, the criminals used fake investment platforms, encouraging victims to open accounts and transfer funds. The scammers assisted clients in purchasing cryptocurrency, which was then transferred to wallets under their control. In some cases, the fraudsters also gained access to victims’ online banking accounts.
To conceal the origin of the stolen funds, members of the group transferred the money through a network of bank accounts, cryptocurrency exchanges, and digital wallets. According to the Cyber Police of Ukraine, investigators have identified 135 German victims who collectively lost more than €4.3 million.
In August and September 2026, Ukrainian and German law enforcement officers conducted more than 50 searches in Kyiv and other regions of Ukraine. During the operation, they seized computers, mobile phones, SIM cards, hardware cryptocurrency wallets, documents, and more than $90,000 in cash.
Following the investigation, four members of the criminal organization were arrested, including its alleged leader. If convicted, they face up to 12 years in prison with confiscation of property. Law enforcement agencies are continuing to identify other individuals involved in the fraudulent network and locate additional victims.
This is not the first operation of its kind in Ukraine. In September, law enforcement officers dismantled another network of fake cryptocurrency investment platforms that defrauded users from more than 20 countries. Investigators identified 62 victims, including citizens of Canada, France, Germany, Israel, Latvia, Lithuania, Poland, Spain, and the United Kingdom.
The investigation into the international Operation Trade is ongoing. Authorities have not ruled out the possibility that the number of victims and the total financial losses could increase as additional cases of fraud are uncovered.
