Crypto scammers come in different shapes and faces. In this part of the globe, they come from call centers — agents who sweet-talk their targets and steal their money.
Since Russia’s invasion of Ukraine on February 24 this year, hundreds of soldiers and civilians have been killed by atrocities.
In the midst of damage and death, however, scammers take advantage of the circumstance by employing technological means to separate their victims from their money.
Recently, the police and the Security Service of Ukraine launched an operation against a call center that was defrauding people.
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The scheme was intricate. Call center agents deceive unwary customers with the use of eloquence and the power of persuasion.
They utilized software that conceals their actual phone number in order to appear legit. This is coupled with bogus websites for institutions and exchanges that facilitate the trading of fiat currency, cryptocurrencies, gold, and securities.
Within the European Union, local and foreign nationals were targeted by this scam.
The National Police of Ukraine said:
“After gaining permission to recover the lost funds, individuals provided instructions for transferring ‘commissions’ to the accounts of the scheme’s participants.”
Image: Bitcoin.comThe call center fraudsters pretend to be the “Community of Cryptocurrency Brokers.” They claimed to be working for the broker group and offered to help victims find and recover their stolen funds in exchange for a “commission.”
“After receiving the monies, communication with the ‘brokers’ was severed, and no payments were made,” the NPU said.
Recently, Ukraine’s crypto market has experienced a significant expansion. Just this March, President Volodymyr Zelenskyy signed the Virtual Assets Bill. This piece of law legalizes digital assets nationwide.
Additionally, the measure establishes the legal status of crypto assets and the papers required for exchanges to register in the country.
Ukraine has received $150 million in relief from overseas contributions. These donations were utilized to provide the country’s people and military with necessities in its defense against Russia.
Ukraine’s optimistic stance on cryptocurrency is extremely encouraging for a variety of reasons. This could elevate its profile in the crypto sphere.
This might also potentially create jobs for millions of displaced individuals and battle-weary troops after the war.
However, the rise of fraudulent call centers in the country is a warning indicator of what may occur if enforcement efforts are not maintained.
According to the Ukraine’s Criminal Code, those found guilty of the aforementioned call center fraud might be sentenced to 12 years in jail.
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