The Cyber Police Department and investigators of the National Police of Ukraine, under the procedural guidance of the Prosecutor General’s Office, identified a man who allegedly took possession of a victim’s money under the guise of investments in crypto assets. According to investigators, from 2023 to 2025, the suspect persuaded the victim to invest in cryptocurrency and promised passive income. Over two and a half years, he allegedly extracted more than $655,000 from a single person.
The victim’s money was converted into cryptocurrency and transferred to wallets effectively controlled by the suspect himself. He then moved the assets between various services and cryptocurrency tumblers, which mix coins belonging to many users and break the transaction trail, making it much harder to determine the origin of the funds and trace their subsequent movement.
As part of international cooperation, Czech law enforcement confirmed that the suspect lives in Prague. With authorization from the Czech authorities, they conducted a search with the participation of representatives of the National Police of Ukraine and seized computer equipment, mobile phones, hardware crypto wallets, data storage devices, bank cards and financial documents.
The case is being investigated under Part 5 of Article 190 of the Criminal Code of Ukraine, which covers fraud involving particularly large amounts. The suspect faces 5 to 12 years in prison with confiscation of property.
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