Young Entrepreneur Extorted For $250,000 In USDT By Fake Ukrainian Police As Hyped Multi-Chain Meme Coin Launching This Week
On Monday (September 2), in Ukraine, police arrested a criminal cabal that is alleged to have extorted $250,000 in the Tether (USDT) stablecoin from an entrepreneur.
They carried out the scheme by posing as law enforcement officials and threatening the victim with criminal charges for a crime he never committed.
Fake Police Scare Entrepreneur Into Handing Over $250,000 After Falsely Accusing Him Of Collaborating With Russia
Breaking news: 🗞
Ukrainian police have arrested a criminal group posing as law enforcement officers to extort $250,000 in Tether (USDT) from a businessman. 💵⚖️ pic.twitter.com/j4VpFaKdbv
— Eneko (@Enek_T) September 3, 2024
A statement from the Ukraine National Police and its Cyber Police Unit claims that the four suspects now face up to 12 years in prison if found guilty.
The plot was carried out in May of this year. The victim, a 20-year-old online business founder, made a report to law enforcement that unknown individuals had impersonated police officers.
It’s alleged that the gang intimidated the entrepreneur by accusing him of collaborating with Russia. They then proceeded to threaten him with a lengthy prison sentence for treason.
They then went on to offer the victim a deal. In exchange for $250,000, paid in USDT, the group claimed that this would “settle the issue.”
The entrepreneur, believing the group, complied with the demands out of fear of legal repercussions. He transferred 250,000 USDT to a crypto wallet controlled by the fake police officers.
The statement claims that the criminals quickly moved the stolen funds through a crypto exchange.
Four Suspects Were Quickly Apprehended In Ukraine And Found With Fake IDs, Bullets & Cash
Ukrainian fraudsters posing as police extorted $250,000 in USDT by threatening a businessman with fake charges. Four suspects were identified and raided, revealing cash, luxury items, and fake credentials. #Ukraine #CryptoFraud #USDT #Cybercrime #ScamAlert #CryptoNews
— TheLazyDesigner (@cuttie_nft) September 2, 2024
Cyber police officers were able to track the movement of the crypto assets. It quickly identified the suspects who, unsurprisingly, had no official ties to law enforcement. Investigators from the State Police in Kyiv then conducted a coordinated operation to apprehend the quartet.
Searches were carried out across multiple parts of Ukraine. Namely, Kyiv, the Kyiv region, and the Cherkasy region.
Law enforcement targeted the homes and vehicles of the suspects and their family members. Authorities seized bank cards, computer equipment, mobile phones, luxury cars, fake journalist IDs, ammunition, and cash totaling $7,000.
The statement from the Cyber Police in Ukraine finishes by saying they are now checking to see if the four individuals were involved in committing other similar crimes.
DISCOVER: 19+ Next Cryptocurrencies To Explode in 2024
BONUS: Base Dawgz (DAWGZ) Set For DEX Launch This Week Following Successful $3.2 Million Presale
The Base Dawgz presale has officially ended, but many investors were still left sidelined. Luckily, the team has made DAWGZ purchasable for the next 24 hours at the listing price.
So if you weren’t able to get into the presale, you still have one day to buy DAWGZ tokens before they hit exchanges, with many analysts predicting a post-listing pump.
According to the project’s whitepaper , the team has set aside 20% of the total DAWGZ supply for initial liquidity. A further 15% will be used for marketing. This marketing allocation will be crucial as meme coins rely heavily on hype and viral promotion.
Base Dawgz is gaining much attention because it is a multi-chain meme coin. While its home is on the Base network, its functionality extends to multiple chains.
Thanks to advanced cross-chain tech, DAWGZ tokens can move between various networks to take advantage of yield farming and staking opportunities on other networks.
Grab your bag now and sit back while waiting for the official DEX launch of DAWGZ later this week.
DAWGZ PRESALE LINK
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Vitalik Buterin: The ideal Ethereum experience should be like using a credit card
A whale invested $2.7 million to buy WIF and BONK today
Caitlyn Jenner faces lawsuit from JENNER memecoin buyers