Ukrainian police dismantle crypto scam network earning $1 million a month

Ukraine's National Police, working with the country's Security Service, dismantled a large network of fake cryptocurrency investment platforms. According to ArzDigital, the network defrauded users in more than 20 countries and earned up to $1 million a month in illegal revenue. Based on initial reports from Ukrainian authorities, 62 victims have been identified so far, and the investigation continues to determine the exact scale of stolen assets and identify other victims. According to Ukrainian police, the operators built seemingly legitimate websites and advertised on Telegram to convince users to deposit funds, showing them a completely fabricated trading dashboard; when users requested withdrawals, the platform used a fake "additional verification" step to trick them into granting access to their wallets through so-called wallet-drainer tools.