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The Ukrainian police and the Security Service of Ukraine (SBU) recently dismantled a scam network that used a fake investment platform to steal cryptocurrency. This network disguised itself as an investment platform website, luring users to connect their main cryptocurrency wallets and approve a small test transaction when withdrawing funds. Subsequently, it used a "wallet stealer" hidden within the website to automatically transfer user funds to wallets controlled by the operators, kicking victims off the platform. Investigators have currently confirmed 62 victims, with over 46 Ukrainian citizens involved, and the network could steal up to $1 million per month.The police stated that the false profits displayed on the platform are part of the scam, with operators manually creating transactions and adjusting user account balances to create the illusion of investment growth. In addition to cryptocurrency, the platform also collected victims' passport information, phone numbers, email addresses, login credentials, and photos during the registration and identity verification process. The main organizer of the network is a 25-year-old IT expert who recruited over 46 Ukrainian citizens and operated multiple offices in Kyiv and surrounding areas, with members responsible for building and maintaining fake websites, contacting potential victims, and providing security.Victims come from multiple countries, including Germany, Poland, Lithuania, Latvia, Spain, France, the United Kingdom, Canada, and Israel. The police traced the gang's server equipment located in the Netherlands and obtained a database stored there, which included a list of victims, cryptocurrency wallet addresses, suspected stolen amounts, internal communications, and platform operation information. The Ukrainian police and SBU subsequently executed 34 searches in Kyiv and surrounding areas, seizing over 100 computers, more than 100 mobile phones, 79 SIM cards, documents, cash, and 15 vehicles.

On Tuesday, the Ukrainian National Police and Security Service announced the dismantling of a fake investment platform network based in Kyiv. This gang stole cryptocurrency from users in over 20 countries through built-in wallet theft tools. Investigators have currently confirmed 62 victims, including citizens from Germany, Poland, Lithuania, Latvia, Spain, France, the UK, Canada, and Israel. The organizers recruited more than 46 Ukrainians, operating multiple offices in Kyiv and surrounding areas, where developers were responsible for building the fake platform and resisting bans, while other members handled customer service and security.According to the Ukrainian Security Service, the organizer is a 25-year-old IT expert, and the gang's peak monthly revenue reached up to $1 million. The scam began with advertisements for cryptocurrency investment projects on Telegram. After users registered, they connected their wallets and invested funds, while gang members manually forged transactions to show a continuously increasing balance in the user backend. When users requested withdrawals, the platform required them to connect their main wallet and approve a small "test" transaction under the pretext of verification. This authorization immediately triggered the built-in theft tool on the website, transferring assets to wallets controlled by the gang and locking the victims' accounts.Investigators tracked down server equipment storing the gang's database in the Netherlands, which recorded victim information, wallet addresses, stolen amounts, internal communications, and platform operation data, as well as user passports, phone numbers, emails, login passwords, and photos. Police executed 34 searches in Kyiv and surrounding areas, seizing over 100 computers, more than 100 mobile phones, 79 SIM cards, one GSM gateway, cash, and 15 vehicles.

According to Decrypt, the British police confiscated 20.21 bitcoins along with other cryptocurrencies and bank funds, totaling a value of 1.4 million dollars. The individuals involved had previous convictions for money laundering and are now deceased.Investigators traced these assets back to dark web markets that operated from 2016 to 2019 and were later shut down by law enforcement. The police stated that these now-closed websites had facilitated various criminal activities ranging from drug supply to human trafficking, but did not disclose the specific names of the websites.

The Irish National Police (An Garda Síochána) reported that during a special operation against organized crime in the Galway area, police searched two properties and froze two cryptocurrency accounts worth approximately $900,000 in total. In addition, the police also froze a bank account containing €25,000 (approximately $29,100), and seized €9,300 in cash and drugs valued at approximately €18,300 (including amphetamines and cannabis).A man in his 40s involved in the case has been arrested and charged, and the investigation is ongoing.

According to Decrypt, the financial investigation department of the police in Avon and Somerset, UK, has seized 20.21 bitcoins along with other crypto assets and bank account funds, totaling approximately $1.4 million (£1.03 million). Investigators traced the assets to dark web markets that operated between 2016 and 2019, all of which have now been shut down by law enforcement and were involved in criminal activities such as drug supply and human trafficking.This is the largest cryptocurrency seizure operation by the police since the introduction of the cryptocurrency wallet freezing order in the UK in April 2024. This power allows the police to freeze and seize cryptocurrencies without prior arrests, transferring them to wallets controlled by law enforcement, and seizing written passwords or storage devices. The individuals involved had previous money laundering convictions and are now deceased.The police pointed out that every transaction processed by these markets is permanently recorded on the blockchain, serving as a valuable source of evidence. The assets were seized earlier this year under the Proceeds of Crime Act, with the court determining that they represented proceeds from illegal activities, and the recovered funds will be used for community and policing projects.

The Public Security Bureau of Hongkou District, Shanghai, China, recently solved a case involving cross-border illegal settlement and illegal foreign exchange trading using virtual currency, arresting 9 criminal suspects and involving an amount of over 200 million yuan. The suspects, including a person named Li, established a technology company at the beginning of 2024 to seek illegal profits, building two platforms online: "Cross-Border Fund Exchange" and "Virtual Credit Card Issuance and Settlement." They solicited customers both online and offline, illegally conducting exchange and settlement services for virtual currency and cross-border funds, profiting through transaction fees, service fees, card issuance fees, withdrawal fees, and other means.Investigators stated, "The uniqueness of this case lies in the fact that the criminals developed two apps and publicly solicited customers on such a large scale, which has never been seen before. The platforms built in this case are themselves a closed-loop illegal financial service system, with all transactions settled internally on the platform. This mode of crime has a higher degree of scale, a longer chain, and is more deceptive." Reports indicate that on the "Cross-Border Fund Exchange" platform, the criminal gang collected customers' virtual currency overseas and exchanged it for foreign currency, forming a "fund pool," and then realized cross-border settlement through fabricated contracts, achieving the exchange and transfer of virtual currency to RMB. On the "Virtual Credit Card Issuance and Settlement" platform, the criminal gang "cooperated" with several overseas private banks to issue virtual credit cards to customers, who could use the card for consumption, but the repayment process had to be settled in virtual currency; the gang exchanged virtual currency for foreign currency overseas, relying on false cross-border settlements to complete clearing with overseas card merchants.

The Shanghai Public Security Bureau reported the investigation and resolution of a major underground money laundering case involving cross-border currency exchange using virtual currency, arresting more than 70 criminal suspects, with the amount involved exceeding 20 billion yuan.

According to Caixin, the Hong Kong police responded to the abnormal liquidation case of Star Bridge Capital's gold trading, stating that multiple reports have been received, with the reported amount of funds that could not be retrieved totaling approximately HKD 6.63 million. After investigation, the case is temporarily classified as fraud and has been handed over to the third team of the Central District Criminal Investigation Unit for follow-up, with no arrests made yet.According to information obtained by the affected investors in this case, as of 1:50 PM, the number of people who have reported to the Hong Kong police (and have obtained a report number) is approximately 180.

According to Caixin, the Hong Kong Court of Appeal yesterday rejected the sentence reduction application of the mastermind behind the electric fraud and human trafficking, Ma Zhihao, and upheld the original sentence of 56 months in prison. During the investigation of the case, the Hong Kong police tracked the criminal funds through blockchain and cryptocurrency transaction records, identifying the key points where ransoms and criminal proceeds were received.It is reported that a victim's family paid approximately 9,527 Tether (USDT) to a cryptocurrency wallet designated by the criminals. The blockchain tracking records conclusively prove that 8,127 USDT flowed into an exchange account registered under Ma Zhihao's real name and Hong Kong ID, which was then exchanged for about 63,000 Hong Kong dollars and transferred to his personal HSBC bank account, becoming important evidence of his involvement in the crime and obtaining profits. The Court of Appeal pointed out that if it were not for the 7-year sentencing cap imposed by the District Court, the punishment faced by the defendant would be much heavier than this.

According to Caixin, a large number of mainland and Hong Kong investors participated in the Hong Kong IPO "new share subscription" through ZD Group, and the related funds cannot be redeemed on time. The Hong Kong police stated that as of August 17, 24 investors have reported the case, which has been treated as "fraud" and is being followed up by the Wan Chai District Major Crime Unit, with no arrests made yet.Previously, several investors were informed that the bank accounts of entities associated with ZD Group had been frozen, resulting in the inability to redeem funds, with the scale of involvement reaching the billion Hong Kong dollar level, some of which are cross-border investment funds from the mainland to Hong Kong.

According to a report by the Korea United News Agency, the Gwangju Police Agency's Cyber Crime Investigation Team will arrest and transfer three suspects led by A (in their 60s), who are suspected of establishing offices in Seoul, Gwangju in South Jeolla Province, and Gunsan in North Jeolla Province since November 2024. They allegedly deceived over 100 elderly individuals aged 70 to 80 into investing in virtual assets with false promises such as "guaranteed principal" and "potential profits of hundreds of billions of Korean won," accumulating approximately 500 million Korean won in fraud.The police stated that there are likely still unreported victims and are continuing to expand the investigation, reminding the public to remain vigilant against investment offers that promise guaranteed principal and high returns.

BitMart founder Sheldon stated that regarding the public accountability statement released by a BitMart employee through the official Twitter account, he has completed the collection of evidence related to the content and claims that the information is all false. Sheldon indicated that he will report to the police during the day in the United States and send a lawyer's letter to the X platform, requesting technical and data evidence collection regarding the relevant content. Sheldon also stated that employee assets do not take precedence over customer assets, and everyone is a customer, with no privileges existing. Previously, BitMart employees publicly questioned the whereabouts of platform assets and related handling situations. Sheldon had previously stated that he would respond to the whereabouts of platform assets by the 19th.Blockchain investigator ZachXBT posted on the X platform questioning the BitMart exchange. In response to the relevant account, he stated that if BitMart indeed has sufficient liquidity, it should directly return the funds to all users instead of issuing vague statements. ZachXBT pointed out that BitMart's related actions have caused real users to be unable to use their funds normally, and there is insufficient transparency. This statement has raised market concerns about the safety of the exchange's funds and operational transparency.

According to Livecoins, the Joint Task Force Against Organized Crime in Rondônia, Brazil (FICCO/RO) executed arrest and search warrants against a gang suspected of electronic fraud and money laundering. The criminal organization is accused of using cryptocurrency exchanges to hide illegal funds transferred from the original victims' accounts.A case investigated in 2025 resulted in losses of approximately $5.74 million. The court has issued 8 preventive arrest warrants and 18 search warrants, and authorized the freezing of related assets such as cryptocurrency exchange and bank accounts. In addition to targeting securities accounts, the law also mandates the seizure of vehicles and boats belonging to the individuals under investigation.

According to CNA, the Singapore Police Force (SPF) and the Cyber Security Agency of Singapore (CSA) reported that a cryptocurrency scam involving fake job postings and compromised software systems resulted in losses of $11.8 million.The scam group impersonated cryptocurrency company recruiters on LinkedIn, used forged domain names to send emails, conducted video interviews, and induced victims to download malware on company devices to complete "technical tests," thereby stealing session tokens, bypassing multi-factor authentication, and ultimately transferring cryptocurrency.

According to La Tribuna, the body of a Chinese man was found outside the Jade Park high-rise apartment in the Trinidad district of Asunción, Paraguay. Preliminary identification confirmed the identity as Harry Chun Tak Yeh, the founder and managing partner of Quantum Fintech Group. The police stated that he is suspected to have fallen from the 30th floor of the building, and his body was found completely naked and covered with a black plastic bag. Investigators found the apartment door on the 30th floor ajar, with the interior in disarray, and confirmed that he also owned another apartment on the 27th floor of the same building. Criminal technicians have collected evidence outside the building and from both apartments, and relevant physical evidence has been handed over to the prosecution. The prosecution is currently investigating multiple possibilities, including accident, suspected suicide, and homicide, while the judicial department will determine the specific cause of death and the circumstances through an autopsy.It is reported that Chinese-American cryptocurrency investor Harry Yeh entered the Bitcoin market in 2013 when the BTC trading price was $60. He launched his first fund with $250,000, and his investment network claims to manage over $2.4 billion in assets, closely linked with Fantom, Tomb Finance, Lif3, ZooCoin, L3 USD, and L3 Reserve.

According to the Dongguan Release public account, the Dongguan Hengli police successfully intercepted a virtual currency investment fraud case, preserving 1.1 million yuan in cash just 5 minutes before the victim's offline transaction with the fraudster, thus avoiding significant economic losses.It is understood that the victim, Ms. Li (pseudonym), previously met an unfamiliar online acquaintance who lured her with "internal investment channels for virtual currency," promising low thresholds and high returns, and created a false impression of investment profits through forged profit screenshots. Subsequently, the fraudster induced Ms. Li to withdraw 1.1 million yuan in cash under the pretext of "needing to exchange cash for USD recharge" for payment. After discovering risk clues, the Dongguan police quickly activated the early warning interception mechanism, organized police forces to rush to the bank to dissuade her, and ultimately successfully prevented the fund transfer before the transaction.

The Korean National Police Agency has selected Upbit's parent company, Dunamu, through public bidding to be responsible for the custody of seized virtual assets, with a contract period of 1 year.The confiscated digital assets will be managed through the digital asset custody service Upbit Custody, responding in real-time to regulatory infrastructure and conducting custody and management within 365 days. This service employs 100% offline cold wallets, 24/7 monitoring, and introduces MPC, DKG multi-key management, and multi-signature technology to ensure asset isolation and security.

According to CoinPost, the Financial Services Agency of Japan and the National Police Agency recently jointly sent a letter to the Japan Virtual Currency Exchange Association (JVCEA), requesting exchanges to strengthen anti-fraud measures. This request includes 11 specific requirements, such as the need for withdrawal addresses to be registered in advance, enhanced transaction monitoring, strict verification of identification documents when opening accounts, and setting a withdrawal limit for a certain period after users deposit fiat currency or purchase crypto assets.The background of this action is the increasing prevalence of investment scams and "pig butchering" schemes on social media, where criminals frequently use crypto accounts to transfer illegal funds. The Financial Services Agency also suggested that exchanges flexibly set withdrawal limits based on customers' risk levels and transaction purposes, and that suspicious transactions should immediately result in account restrictions or freezes, while enhancing intelligence cooperation with the police. For system renovations that are difficult to implement in the short term, exchanges are allowed to proceed in phases. In addition, the Financial Services Agency has officially established the "Cryptocurrency and Stablecoin Division," responsible for related regulatory affairs.

According to CoinPost, the Financial Services Agency and the National Police Agency of Japan jointly issued a request to the Japan Virtual Currency Exchange Association (JVCEA), asking all cryptocurrency traders to strengthen withdrawal restrictions to prevent fraud victims, proposing a total of 11 new measures.The main content includes: the introduction of a pre-registration system for withdrawal destinations, setting a certain period of withdrawal restrictions after depositing fiat currency or purchasing cryptocurrency, establishing withdrawal limits based on customer risk assessments, and enhancing transaction monitoring and information-sharing mechanisms with police in each prefecture. The background is that the damage from social media investment inducements and "pig butchering" scams continues to expand, with criminal methods becoming increasingly complex.