Share this article
Ukraine Arrests Suspects Tied to Fraudulent Crypto Exchanges
Ukrainian authorities have arrested four individuals suspected of operating fake cryptocurrency exchanges.
Updated Sep 13, 2021, 8:04 a.m. Published Jun 18, 2018, 6:20 p.m.
Ukrainian authorities have arrested four individuals suspected of running fake cryptocurrency exchanges, the nation's federal police force announced Saturday.
The National Police of Ukraine claimed in a press release that the suspects were arrested for operating as many as six fraudulent cryptocurrency exchange platforms. Cybercrime officials are still looking at the sites to establish how much money was stolen from investors.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The four suspects allegedly created websites that imitated legitimate cryptocurrency exchanges, targeting investors that were interested in purchasing tokens. The suspects further asked the victims to transfer funds into digital wallets registered under forged identification documents through the fake trading sites, according to the police.
As part of the investigation, officials confiscated computers, flash drives, bank cards and mobile phones that were used by the suspects.
Ukrainian police have begun criminal proceedings under Section 3 of Article 190 of Ukraine's Criminal Code, according to statements.
The move marks one of the first major efforts by the nation to police its domestic crypto ecosystem, following a previous move to form a new working group to regulate cryptocurrencies, as previously reported by CoinDesk.
During a January meeting, National Security and Defense Council chief Oleksandr Turchynov said that a lack of regulation around the tech is a threat to Ukraine's economy and security.
Ukrainian Flag image by Shutterstock.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Lighter trading platform sees $250 million withdrawn 24 hours after airdrop
Bubblemaps CEO says outflows seen on Lighter on Dec. 31 are not uncommon as users rebalance hedging positions and move on to the next farming opportunity.
What to know:
- Approximately $250 million was withdrawn from Lighter after its $675 million LIT token airdrop.
- The withdrawals represent about 20% of Lighter's total value locked, according to Bubblemaps CEO Nicolas Vaiman.
- Large withdrawals post-token generation events are common as early participants exit, says CertiK's Natalie Newson.
Top Stories
