Ukraine has broken up a Kyiv-based crypto drainer ring that allegedly used fake investment advertising on Telegram channels to target victims in the European Union, Decrypt reported. The scheme directed users to a lookalike cryptocurrency exchange, where their wallets were emptied. The operation reportedly moved as much as $1 million per month. The case highlights the risks posed by fraudulent investment promotions and imitation trading platforms in crypto markets. Details supplied by Decrypt identify the victims as EU residents and the distribution channel as Telegram. No information was provided on arrests, the number of victims, the cryptocurrencies involved, or the legal action taken against those behind the operation.
Source
Decrypt
Written by Moneyiar based on reporting from the cited source and Moneyiar market data.
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