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Poland, Ukraine Joint Raids Shut Down Fake Trading Scheme That Hit Thousands of Investors

For your consideration by For your consideration
June 9, 2026
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Poland, Ukraine Joint Raids Shut Down Fake Trading Scheme That Hit Thousands of Investors
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Thursday, 04/06/2026 | 20:01 GMT by
Jared Kirui

  • According to the investigators, the probe began after a surge in complaints from Polish investors who lost money through online forex platforms.
  • The group posed as legitimate brokers offering foreign exchange trading opportunities.

warning-fraud_880-400

A joint investigation between Polish and Ukrainian
authorities has led to the shutdown of three call centers linked to a
large-scale forex fraud scheme that targeted thousands of investors.

According to the Central Office for Combating Cybercrime, the operation resulted in multiple
arrests and the seizure of significant assets, as officials continue to
investigate an organized group accused of running fake investment platforms.

Cross-Border Investigation and Arrests

The case began after Polish authorities recorded a rise in
complaints from individuals who claimed losses through online forex
investments. The Krakow Regional Prosecutor’s Office identified an organized
crime group that presented itself as legitimate brokers offering trading
opportunities in the foreign exchange market.

You may also like: Dubai Police, US and China Avert $562M in Crypto Scam Losses, Unravel “Pig Butchering” Network

Investigators found that the platforms did not conduct real
trades. Instead, operators simulated activity to convince victims that their
investments were growing. Once funds were deposited, the group redirected the
money.

Poland’s Central Cybercrime Bureau, working with
prosecutors, requested assistance from Ukraine after tracing parts of the
operation to multiple locations there. Authorities identified 28 sites
suspected of hosting the call centers.

Ukrainian law enforcement conducted searches at these
locations and uncovered three active call centers. Officers detained 12
individuals during the raids, with nine placed in pretrial detention.
Prosecutors have brought charges against 23 suspects in connection with the
case.

Losses, Seizures, and Ongoing Probe

Authorities estimate that at least 2,000 victims were
affected, with total losses reaching a minimum of 80 million Polish zlotys. The
investigation also led to the seizure of assets valued at 18.2 million zlotys.

Recovered property includes cryptocurrency, cash, luxury
cars, watches, and other high-value items. Courts have also imposed bail
totaling 4.4 million zlotys as proceedings continue. Officials say the case reflects a broader pattern of
cross-border investment fraud, where criminal groups use call centers and
digital tools to target victims in different countries.

In a related case
earlier this year, European authorities dismantled another network that caused
losses exceeding €50 million. The current investigation remains active, with authorities
working to identify additional participants and trace remaining funds.

Cases of forex fraud are on the rise. In April, for instance, Dubai Police, working with US and Chinese authorities disrupted a major “pig butchering” crypto scam network that targeted victims across several countries. Authorities said they have warned nearly 9,000 potential victims and prevented an estimated $562 million in losses, arresting 276 suspects and shutting down nine scam centers, most of them in the United Arab Emirates.

Prosecutors in the US charged several people linked to the scheme with crimes including wire fraud and money laundering, calling the case part of a wider push against fast-growing cross-border financial crime. Investigators found that the network ran organized scam hubs where recruited staff followed scripts to build long-term trust with victims before steering them into fake cryptocurrency platforms.

A joint investigation between Polish and Ukrainian
authorities has led to the shutdown of three call centers linked to a
large-scale forex fraud scheme that targeted thousands of investors.

According to the Central Office for Combating Cybercrime, the operation resulted in multiple
arrests and the seizure of significant assets, as officials continue to
investigate an organized group accused of running fake investment platforms.

Cross-Border Investigation and Arrests

The case began after Polish authorities recorded a rise in
complaints from individuals who claimed losses through online forex
investments. The Krakow Regional Prosecutor’s Office identified an organized
crime group that presented itself as legitimate brokers offering trading
opportunities in the foreign exchange market.

You may also like: Dubai Police, US and China Avert $562M in Crypto Scam Losses, Unravel “Pig Butchering” Network

Investigators found that the platforms did not conduct real
trades. Instead, operators simulated activity to convince victims that their
investments were growing. Once funds were deposited, the group redirected the
money.

Poland’s Central Cybercrime Bureau, working with
prosecutors, requested assistance from Ukraine after tracing parts of the
operation to multiple locations there. Authorities identified 28 sites
suspected of hosting the call centers.

Ukrainian law enforcement conducted searches at these
locations and uncovered three active call centers. Officers detained 12
individuals during the raids, with nine placed in pretrial detention.
Prosecutors have brought charges against 23 suspects in connection with the
case.

Losses, Seizures, and Ongoing Probe

Authorities estimate that at least 2,000 victims were
affected, with total losses reaching a minimum of 80 million Polish zlotys. The
investigation also led to the seizure of assets valued at 18.2 million zlotys.

Recovered property includes cryptocurrency, cash, luxury
cars, watches, and other high-value items. Courts have also imposed bail
totaling 4.4 million zlotys as proceedings continue. Officials say the case reflects a broader pattern of
cross-border investment fraud, where criminal groups use call centers and
digital tools to target victims in different countries.

In a related case
earlier this year, European authorities dismantled another network that caused
losses exceeding €50 million. The current investigation remains active, with authorities
working to identify additional participants and trace remaining funds.

Cases of forex fraud are on the rise. In April, for instance, Dubai Police, working with US and Chinese authorities disrupted a major “pig butchering” crypto scam network that targeted victims across several countries. Authorities said they have warned nearly 9,000 potential victims and prevented an estimated $562 million in losses, arresting 276 suspects and shutting down nine scam centers, most of them in the United Arab Emirates.

Prosecutors in the US charged several people linked to the scheme with crimes including wire fraud and money laundering, calling the case part of a wider push against fast-growing cross-border financial crime. Investigators found that the network ran organized scam hubs where recruited staff followed scripts to build long-term trust with victims before steering them into fake cryptocurrency platforms.

Jared Kirui

  • 2832 Articles
  • 54 Followers

Jared Kirui is an Editor at Finance Magnates with more than five years of experience in financial journalism. He covers online trading, fintech, payments, and crypto industries with a focus on companies, regulation and compliance, executive moves, trading technology, and market analysis.

His work has been featured in other media outlets, including Benzinga, ZyCrypto, The Distributed, and The Daily Hodl.

Education:
Bachelor of Commerce degree (Finance option), University of Nairobi

  • 2832 Articles
  • 54 Followers

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  • Track Record? IBs & Brokers Between Automation and Trust


    Track Record? IBs & Brokers Between Automation and Trust

    Track Record? IBs & Brokers Between Automation and Trust


    Track Record? IBs & Brokers Between Automation and Trust

    Track Record? IBs & Brokers Between Automation and Trust


    Track Record? IBs & Brokers Between Automation and Trust

    A WhatsApp group, a YouTube channel, a referral link: Most retail traders in Africa found their broker through an IB, and the relationship with brokers can become complex. This session pulls back the curtain on how IBs are tracked, paid, and incentivised, and what that means for the trader on the other side of the referral link.

    You will learn:
    -How IB compensation works (CPA vs. revenue share) and why it shapes the advice they give
    -What brokers actually track: cookies, partner tags, MT4 manager accounts, and sub-IB networks
    -Which platform perks are genuine trader value and which are IB marketing dressed up as benefits
    -How to evaluate an IB before you deposit and what questions to ask when something feels off


    A WhatsApp group, a YouTube channel, a referral link: Most retail traders in Africa found their broker through an IB, and the relationship with brokers can become complex. This session pulls back the curtain on how IBs are tracked, paid, and incentivised, and what that means for the trader on the other side of the referral link.

    You will learn:
    -How IB compensation works (CPA vs. revenue share) and why it shapes the advice they give
    -What brokers actually track: cookies, partner tags, MT4 manager accounts, and sub-IB networks
    -Which platform perks are genuine trader value and which are IB marketing dressed up as benefits
    -How to evaluate an IB before you deposit and what questions to ask when something feels off

    A WhatsApp group, a YouTube channel, a referral link: Most retail traders in Africa found their broker through an IB, and the relationship with brokers can become complex. This session pulls back the curtain on how IBs are tracked, paid, and incentivised, and what that means for the trader on the other side of the referral link.

    You will learn:
    -How IB compensation works (CPA vs. revenue share) and why it shapes the advice they give
    -What brokers actually track: cookies, partner tags, MT4 manager accounts, and sub-IB networks
    -Which platform perks are genuine trader value and which are IB marketing dressed up as benefits
    -How to evaluate an IB before you deposit and what questions to ask when something feels off


    A WhatsApp group, a YouTube channel, a referral link: Most retail traders in Africa found their broker through an IB, and the relationship with brokers can become complex. This session pulls back the curtain on how IBs are tracked, paid, and incentivised, and what that means for the trader on the other side of the referral link.

    You will learn:
    -How IB compensation works (CPA vs. revenue share) and why it shapes the advice they give
    -What brokers actually track: cookies, partner tags, MT4 manager accounts, and sub-IB networks
    -Which platform perks are genuine trader value and which are IB marketing dressed up as benefits
    -How to evaluate an IB before you deposit and what questions to ask when something feels off

    A WhatsApp group, a YouTube channel, a referral link: Most retail traders in Africa found their broker through an IB, and the relationship with brokers can become complex. This session pulls back the curtain on how IBs are tracked, paid, and incentivised, and what that means for the trader on the other side of the referral link.

    You will learn:
    -How IB compensation works (CPA vs. revenue share) and why it shapes the advice they give
    -What brokers actually track: cookies, partner tags, MT4 manager accounts, and sub-IB networks
    -Which platform perks are genuine trader value and which are IB marketing dressed up as benefits
    -How to evaluate an IB before you deposit and what questions to ask when something feels off


    A WhatsApp group, a YouTube channel, a referral link: Most retail traders in Africa found their broker through an IB, and the relationship with brokers can become complex. This session pulls back the curtain on how IBs are tracked, paid, and incentivised, and what that means for the trader on the other side of the referral link.

    You will learn:
    -How IB compensation works (CPA vs. revenue share) and why it shapes the advice they give
    -What brokers actually track: cookies, partner tags, MT4 manager accounts, and sub-IB networks
    -Which platform perks are genuine trader value and which are IB marketing dressed up as benefits
    -How to evaluate an IB before you deposit and what questions to ask when something feels off

  • gRAND Plans: Trading South Africa’s Most Volatile Asset


    gRAND Plans: Trading South Africa’s Most Volatile Asset

    gRAND Plans: Trading South Africa’s Most Volatile Asset


    gRAND Plans: Trading South Africa’s Most Volatile Asset

    gRAND Plans: Trading South Africa’s Most Volatile Asset


    gRAND Plans: Trading South Africa’s Most Volatile Asset

    The Rand is one of the world’s most politically sensitive currencies. Budget speeches, credit rating reviews, MPC decisions, election results — each one moves it. For South African traders, the ZAR is home ground; it is not safe ground. This panel asks the practical question: how do you trade a currency you live in?

    Attendees will walk away with:
    -A clear view of which domestic events have the most consistent impact on ZAR across recent cycles
    -Understanding of how global risk appetite and dollar strength amplify or dampen local triggers
    -Insight into how institutional positioning around SA credit events differs from retail assumptions
    -Perspective on the risk management challenge of trading your own currency with leverage


    The Rand is one of the world’s most politically sensitive currencies. Budget speeches, credit rating reviews, MPC decisions, election results — each one moves it. For South African traders, the ZAR is home ground; it is not safe ground. This panel asks the practical question: how do you trade a currency you live in?

    Attendees will walk away with:
    -A clear view of which domestic events have the most consistent impact on ZAR across recent cycles
    -Understanding of how global risk appetite and dollar strength amplify or dampen local triggers
    -Insight into how institutional positioning around SA credit events differs from retail assumptions
    -Perspective on the risk management challenge of trading your own currency with leverage

    The Rand is one of the world’s most politically sensitive currencies. Budget speeches, credit rating reviews, MPC decisions, election results — each one moves it. For South African traders, the ZAR is home ground; it is not safe ground. This panel asks the practical question: how do you trade a currency you live in?

    Attendees will walk away with:
    -A clear view of which domestic events have the most consistent impact on ZAR across recent cycles
    -Understanding of how global risk appetite and dollar strength amplify or dampen local triggers
    -Insight into how institutional positioning around SA credit events differs from retail assumptions
    -Perspective on the risk management challenge of trading your own currency with leverage


    The Rand is one of the world’s most politically sensitive currencies. Budget speeches, credit rating reviews, MPC decisions, election results — each one moves it. For South African traders, the ZAR is home ground; it is not safe ground. This panel asks the practical question: how do you trade a currency you live in?

    Attendees will walk away with:
    -A clear view of which domestic events have the most consistent impact on ZAR across recent cycles
    -Understanding of how global risk appetite and dollar strength amplify or dampen local triggers
    -Insight into how institutional positioning around SA credit events differs from retail assumptions
    -Perspective on the risk management challenge of trading your own currency with leverage

    The Rand is one of the world’s most politically sensitive currencies. Budget speeches, credit rating reviews, MPC decisions, election results — each one moves it. For South African traders, the ZAR is home ground; it is not safe ground. This panel asks the practical question: how do you trade a currency you live in?

    Attendees will walk away with:
    -A clear view of which domestic events have the most consistent impact on ZAR across recent cycles
    -Understanding of how global risk appetite and dollar strength amplify or dampen local triggers
    -Insight into how institutional positioning around SA credit events differs from retail assumptions
    -Perspective on the risk management challenge of trading your own currency with leverage


    The Rand is one of the world’s most politically sensitive currencies. Budget speeches, credit rating reviews, MPC decisions, election results — each one moves it. For South African traders, the ZAR is home ground; it is not safe ground. This panel asks the practical question: how do you trade a currency you live in?

    Attendees will walk away with:
    -A clear view of which domestic events have the most consistent impact on ZAR across recent cycles
    -Understanding of how global risk appetite and dollar strength amplify or dampen local triggers
    -Insight into how institutional positioning around SA credit events differs from retail assumptions
    -Perspective on the risk management challenge of trading your own currency with leverage

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