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.
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, 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 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.
