In a recent scam, Ukrainian fraudsters impersonating police officers managed to extort $250,000 in Tether (USDT) from a young online business owner. The criminals coerced the victim by falsely accusing him of collaborating with Russia and threatening him with serious criminal charges, including state treason, which could result in a lengthy prison sentence.
According to a press release from the National Police of Ukraine, the 20-year-old businessman was targeted in May by men who claimed to be police officers. They demanded $250,000 to “resolve” the fabricated charges, leading the victim to transfer the funds in stablecoin to the scammers’ crypto wallet. The extortionists quickly laundered the stolen funds through a cryptocurrency exchange.
Law enforcement agencies, including the internal security unit and cyberpolice experts, launched an investigation and identified the culprits, who were found to have no actual connection to any police force. A coordinated operation involving the Kyiv National Police and the Kyiv City Prosecutor’s Office led to simultaneous raids across Kyiv and surrounding regions, resulting in the arrest of four suspects.
During the raids, authorities seized various items, including bank cards, computers, mobile phones, luxury vehicles, counterfeit press credentials, ammunition, and approximately $8,600 in cash. The suspects now face serious charges that could lead to up to 12 years in prison and the confiscation of their assets.
This case follows another high-profile incident in mid-August, where the Economic Security Bureau of Ukraine charged a prominent Ukrainian blogger with evading over $5 million in taxes through complex cryptocurrency transactions. The blogger was accused of using an intricate scheme to hide substantial income from various online activities, including gambling, dating, betting, and health products.
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