Fake police officers demand $250K in stablecoin

Ukrainian scammers posed as police officers and extorted $250,000 worth of USDT from a businessman under false pretenses.

Criminals posing as fake police officers extorted $250,000 worth of stablecoins from a Ukrainian man by threatening him with trumped-up charges.

In May, a 20-year-old online business owner reported to authorities that he had been coerced by men posing as police officers, according to a press release from the Ukrainian National Police on September 2. The scammers intimidated him with false accusations that he was collaborating with Russia and threatened him with a long prison sentence on trumped-up charges of treason.

The extortionists offered to “settle” the fake case for $250,000 and had the victim transfer 250,000 Tether (USDT) to their crypto wallet. After the extortion, the perpetrators quickly converted the stolen funds through an exchange service.

“Internal security unit officers and cyber police experts identified the extortionists, but it turned out that these people had no connection to law enforcement.”

National Police of Ukraine

Fraud network uncovered in coordinated raids in Kiev

A coordinated investigation by the Kyiv National Police and the Kyiv City Prosecutor’s Office identified four suspects residing in Kyiv and the surrounding area. Law enforcement conducted simultaneous raids in Kyiv and other areas, targeting the suspects’ homes, vehicles and other assets.

Items seized during the raids included bank cards, computers, mobile phones, luxury vehicles, fake press IDs, ammunition and about $8,600 in cash. The suspects now face charges that could result in up to 12 years in prison and the forfeiture of their assets.

The operation follows a mid-August case in which Ukraine’s Economic Security Bureau charged a prominent Ukrainian blogger with allegedly evading more than $5 million in taxes through a complex scheme involving cryptocurrency transactions.

The blogger, known for his activities in internet traffic arbitrage and affiliate marketing, allegedly used a sophisticated operation to conceal his significant income from various online industries such as gambling, dating, betting and health products.