Ukrainian Authorities Arrest Fake Police Officers for Alleged $250K USDT Theft

The National Police of Ukraine (NPU) is investigating a significant cryptocurrency theft involving scammers who impersonated law enforcement officers. The scheme led to the theft of 250,000 USDT from a business owner who was deceived into believing he was under investigation by the police.

The Fraudulent Scheme

The fraud was carried out in May when the 20-year-old victim, an online business owner, was targeted by the criminals who posed as police officers. They falsely accused him of collaborating with Russian interests and threatened him with severe legal consequences, including charges of treason and imprisonment.

Using intimidation and deceit, the scammers demanded a significant sum of 250,000 USDT to resolve the fake charges. Fearing the repercussions, the victim complied and transferred the funds, which were then laundered through a cryptocurrency exchange to obscure their trail.

Arrests and Legal Proceedings

The Ukrainian cyber police, in conjunction with the State Police and the Prosecutor’s Office, have apprehended four individuals suspected of being behind the scam. These arrests followed a series of coordinated searches, during which authorities recovered computer equipment, counterfeit identification documents, and mobile phones. They also seized approximately $8,500, including $7,000 in cash, over 63,000 hryvnias (about $1,500), luxury vehicles, and ammunition.

The criminals are now facing extortion charges under Part 4 of Article 189 of the Criminal Code of Ukraine. The court will decide whether they will remain in custody or be released on bail with conditions that ensure their attendance at future court hearings.

This case underscores the growing threat of crypto-related crimes. It highlights the need for individuals to be cautious not only against online scams but also against fraudsters posing as law authorities.

CoinTab recently reported that the crypto industry has suffered over $1.2 billion in losses this year due to 154 hacks and scams, reflecting a 15.5% increase compared to last year.