Four Arrested For Running Fake Crypto Exchanges In Ukraine

Four men have been arrested by the Ukrainian police. These men have been suspected of running six fake cryptocurrency exchanges, Bleeping Computer reported June 21.


Four men between the ages of 20 and 26 purportedly released at least six digital currency exchanges, where they cheated clients, consequently taking cash from them. The asserted guilty parties baited users by promoting the exchanges with counterfeit positive ratings and online surveys. The police supposedly said that the suspects had “special knowledge and skills in the field of programming” and “have created their own CMS-system for managing the content of exchange sites.”


When they went to the suspects’ homes, the police allegedly seized PCs, flash drives, cell phones, and different gadgets. As indicated by a representative for the Ukrainian National Police, “the list of sites is not complete.” Now experts are getting some information about whether they were misdirected by fake trades previously.


Recently, the U.S. Securities and Exchange Commission got an extra emergency court order to freeze the assets of Dominic Lacroix, proprietor of PlexCorps. Lacroix and his partner, Sabrina Paradis-Royer, were blamed for disregarding securities law in regard to the PlexCoin initial coin offering (ICO) led by PlexCorps in August a year ago. The ICO supposedly raised $15 million from “thousands of investors.”


Not long ago, Cointelegraph revealed that a Bitcoin broker in Los Angeles, California, was facing prosecution for professedly running an unregistered multimillion dollar Bitcoin-fiat money transmitting business. Charged Theresa Tetley, 50, purportedly earned at least  $300,000 every year from her underground market business, which kept running between 2014 and 2017 by means of a posting on


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