Ukrainian law enforcement exposed a call-centre network that defrauded investors in Germany, causing substantial losses, according to the National Police.

Investigation and arrests

Authorities carried out 17 searches in Kyiv and the surrounding region as part of the probe into the operation. After the searches, police detained the alleged organiser and three other participants in the scheme.

Modus operandi

The group operated through outbound call centres that contacted potential victims and persuaded them to open accounts on cryptocurrency exchanges. Operators assisted with account setup and guided victims through purchases of various digital assets, then urged transfers to addresses controlled by the perpetrators.

In some instances, the suspects obtained access to victims’ online banking credentials, which allowed them to withdraw funds directly from accounts and to conceal the trail of transfers.

Scale of the fraud

According to the National Police, the scheme targeted 135 German citizens and resulted in losses exceeding €4.3 million. Investigators continue to examine transaction records and communication logs to identify additional victims and accomplices.

Authorities reported that the case remains under active investigation, with forensic analysis of devices and financial flows ongoing to support potential further charges.