Fraudster from Odesa received a million dollars on investments in cryptocurrency

In Odesa, a court remanded in custody a native of Tiraspol suspected of organizing a fraudulent scheme under the guise of investing in cryptocurrency. According to the investigation, he and his accomplice embezzled hundreds of thousands of dollars from the victims, promising high profits.

This is stated in the decision of the Kyiv District

According to the investigation, in early March 2023, the suspect and his accomplice decided to engage in criminal activity aimed at seizing money from acquaintances and others under the guise of investing in cryptocurrency.

To gain the trust of future investors, the men introduced themselves as experienced traders working on international exchanges, including Binance, and demonstrated allegedly successful trading results. They rented an office space in Odesa, creating the illusion of a legitimate business, and invited potential investors there.

During 2023-2024, the suspects attracted several victims to the so-called fund, with whom they were on friendly terms. In total, they received more than USD 1.2 million, which they transferred to controlled bank accounts and crypto wallets. No real transactions were conducted on the exchanges - the funds were misappropriated and spent for their own needs.

Among the victims are several residents of Odesa, each of whom invested tens and hundreds of thousands of dollars, hoping for the promised high dividends.

On June 12, 2025, the suspect was served a notice of suspicion of committing crimes under Part 5 of Article 190 of the Criminal Code of Ukraine - fraud committed on a large scale or under martial law.

The court imposed on him a pre-trial restraint in the form of detention in the Odesa pre-trial detention center with the possibility of bail in excess of UAH 18 million. If bail is granted, the suspect is obliged not to leave Odesa without the investigator's permission, not to contact witnesses and to hand over documents for traveling abroad. The investigation is ongoing.

Earlier this year, law enforcement officers exposed a pyramid scheme in Odesa that defrauded investors of more than USD 200,000. According to the investigation, the organizers set up a company posing as an investment firm, although it had no licenses.

Анна Бальчінос