A Resident of Mykolaiv Region Suspected of Cryptocurrency Fraud Worth $355,000

Law enforcement agencies have reported suspicion against a 44-year-old resident of the Mykolaiv region, accused of large-scale cryptocurrency fraud and laundering of criminal proceeds. This was announced by the Main Directorate of the National Police in the Zhytomyr region and the Zhytomyr Regional Prosecutor’s Office.

According to the investigation, the suspect met a resident of Zhytomyr region in 2022 via the Telegram messenger. The man presented himself as an expert in investments and virtual assets, maintaining regular online communication.

In the summer of 2024, he convinced the victim to transfer cryptocurrency from the Binance exchange to Trust Wallet, providing a combination of symbols that was perceived as a technical code. As a result, the resident of Zhytomyr region transferred more than 25.58 million NOT (over $355,000 at that time) to the fraudster’s wallet.

The investigation established that part of the funds was later cashed out through a chain of transactions on international crypto exchanges. The total damage amounted to more than 14.6 million hryvnias.

The suspect is charged under Part 5 of Article 190 (“Fraud on a particularly large scale”) and Part 2 of Article 209 (“Legalization of property obtained by criminal means”) of the Criminal Code of Ukraine. If found guilty, he faces up to 12 years in prison with confiscation of property.