Computer Crime Research Center


Ukraine takes down cybercrime group hitting crypto fraud victims

Date: September 01, 2022
Source: Computer Crime Research Center
By: Sergiu Gatlan

The National Police of Ukraine (NPU) took down a network of call centers used by a cybercrime group focused on financial scams and targeting victims of cryptocurrency scams under the guise of helping them recover their stolen funds.

The fraudsters behind these illegal call centers were also allegedly involved in scamming citizens of Ukraine and European Union countries interested in cryptocurrency, securities, gold, and oil investments.

Throughout this cross-border fraud operation, they used software and high-tech equipment that made it possible to spoof the phone numbers of state banking organizations.

"In the course of the investigation, it was established that the employees of call centers presented themselves as employees of these state banking institutions and extorted confidential data of citizens' bank cards," the NPU revealed.

"The organizers of the scheme used previously created websites and platforms for exchange trading of currency and cryptocurrency, securities, gold and oil to attract funds from foreign citizens, guaranteeing the receipt of excess profits in a short time."

While claiming to be members of a so-called "Community of cryptocurrency brokers," the attackers also used contact information belonging to previous victims of other cryptocurrency scammers to deceive them that they could help them recover their stolen funds for a "commission."

However, they interrupted all communications after tricking the targets into transferring the money to attacker-controlled accounts.

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