In a recent case of fraud, a group of Ukrainian scammers reportedly tricked a businessman out of $250,000 in Tether (USDT) by pretending to be police officers.
According to local reports, the scam started in May 2024 when a 20-year-old online business owner was accused by scammers who claimed to be the police of serious crimes including state treason and collaborating with Russia.
They demanded that he transfer $250,000 of Tether (USDT) to a wallet to clear the charges or face long-term imprisonment.
After receiving the funds, the scammer quickly sent the stolen money through an exchange. Fortunately, Ukrainian cyber police were able to trace the stolen cryptocurrency to four suspects and conduct simultaneous raids on their locations.
During these raids, they found bank cards, computers, mobile phones, luxury cars, fake press credentials, ammunition, and nearly $7,000 in cash.
According to the police, these suspects are now facing criminal charges under Ukrainian law, which may result in up to 12 years in prison and the loss of their property.
The police are now waiting for the court’s decision on their custody status and authorities are also looking into their connections to other crimes and possible accomplices.
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