A large-scale fraud ring allegedly tricked victims into paying cash for crypto that never arrived, prompting nationwide searches and major seizures.

Law enforcement officials have uncovered a fraudulent network of crypto-exchange operators who were robbing people nationwide.

The Attorney General, Ruslan Kravchenko, announced on Telegram that during the investigation law enforcement conducted more than 20 searches across seven regions of Ukraine.

Under the banner of a currency exchange and crypto-asset service operated a mechanism for taking people’s money. The scheme was masked as a legitimate business: a website, applications, Telegram communication, verification codes, exchange points in all regions. Everything was done to make…