In 2023, Ukrainian law enforcement agencies received more than 1,500 reports related to crimes in the cryptocurrency space. This was stated by Evgeny Panchenko, head of the Operational-Analytical Support and Open-Source Analysis Department of the Cyberpolice, at the Binance Super Meetup in Lviv.
According to him, the cases included both direct investor fraud and reports from witnesses of similar offences.
Panchenko also noted that the most common cryptocurrency-related fraud schemes are:
- phishing;
- selling fake tokens;
- a three-way scheme — when the scammer acts as an intermediary between the user and a legitimate service;
- bank denial — during a P2P operation the scammer, after obtaining the cryptocurrency, cancels the bank transfer of their funds;
- sale of illegal software and illicit goods;
- schemes Pump & Dump;
- cryptocurrency pyramids;
- wallet hacks.
The law enforcement official also offered tips to help protect against fraudsters.
Panchenko also spoke about the StopFraud bot created with the participation of the cyberpolice. It allows checking a phone number, a bank card, or an IBAN for signs of related fraud.
As of December 2022, Ukrainian law enforcement completed investigations into more than 600 cases related to cryptocurrencies.
In most cases, criminals used digital assets to launder criminal proceeds and trade illegal goods on the dark web.