Police in Ukraine arrested four people, including the alleged leader, over call centers that ran fake crypto investment schemes. At least 135 people in Germany lost more than 4.3 million euros, about $5 million. Callers posed as brokers and advisers, showed victims fake profits on fake platforms, and in some cases got into their online banking.

Key facts

  • Who: Ukrainian police, working with German investigators
  • What: Four arrests over fake crypto investment call centers
  • Victims: At least 135 people in Germany
  • How much: More than 4.3 million euros, about $5 million
  • Source: The Record and BleepingComputer

The phone rang, and a friendly "financial adviser" offered a way into crypto. For at least 135 people in Germany, that call cost more than 4.3 million euros. Ukrainian police have now arrested four people they say ran the call centers behind it, including the alleged leader, The Record reported.

Three suspects are in custody before trial, and a suspected co-organizer is under house arrest. Police searched more than 50 properties in two rounds, working with German investigators. The suspects face up to 12 years in prison if convicted, BleepingComputer reported. Police say they are still looking for more members and more victims.

How the calls worked

Callers posed as brokers and advisers. They steered people to investment websites that showed growing profits, but the sites were fake. Money went to wallets the group controlled. In some cases the callers also got into victims' online banking, Metacurity reported.

Signs the "broker" is the scam

  • They called you first and keep calling.
  • Your profits only exist on their website. Real gains can be withdrawn without new "fees" or "taxes." Here's how to spot a fake crypto exchange.
  • They ask for remote access to your computer, or your banking login. No real broker needs either.
  • After you lose money, someone offers to get it back for a fee. That's often the same crew. Read about recovery scams.

The same playbook, warm talk first and a fake platform later, drives pig butchering scams worldwide.

Sources: The Record, Ukraine arrests four in $5 million crypto scam targeting Germans (November 2026), BleepingComputer, Ukraine dismantles crypto scam network that stole 4.3 million euros (November 2026), Metacurity, Ukraine busts EU crypto scam ring that stole 4.3 million euros (November 2026).