Cryptocurrency / cryptowallet fraud

«Our task is to protect your rights and interests. We do not tell "tales" - the client must be honest and aware of the objective reality of the situation.»

Kovalev Artem

Head of criminal law practice

Head of problem debt practice, criminal lawyer

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Cryptocurrency / cryptowallet fraud

Virtual assets are gaining more and more popularity every day. Payment of wages in cryptocurrency, payments for services – all this is becoming commonplace in the modern world. With the expansion of the cryptocurrency market, the danger of fraudulent scams on crypto exchanges increases, including fake exchangers, promises of large profits, financial pyramids, extortion of funds, etc. To protect your crypto-assets, you need to be quite careful and knowledgeable. If you have become a victim of fraud, contact the experienced lawyers of the company “Prikhodko and Partners”, who will help you return the stolen funds, as well as bring the offenders to justice.

What is the criminal liability for cryptocurrency fraud?

  • Article 190 of the Criminal Code of Ukraine – committing fraudulent actions, including with cryptocurrency, may be punished by:
  1. with a fine of up to 8 thousand n.m.g.
  2. public works up to 240 hours.
  3. corrective works up to 2 years.
  4. probationary supervision for up to 3 years.
  5. restriction of freedom for up to 5 years.
  6. imprisonment for up to 12 years with confiscation of all available property.
  • Article 185 of the Criminal Code of Ukraine – qualifies in the case of secret theft of funds from a crypto wallet and is punishable by:
  1. with a fine of up to 3 thousand n.m.g.
  2. public works up to 240 hours.
  3. corrective works up to 2 years.
  4. probation supervision for up to 5 years.
  5. restriction of freedom for up to 5 years.
  6. imprisonment for up to 12 years with confiscation of all available property.

What are the most dangerous types of cryptocurrency scams?

Some of the most dangerous types of cryptocurrency scams are phishing and ICO (Initial Coin Offering) scams. Phishing involves creating fake websites or sending e-mails that appear to be official in order to trick users of their private keys or credentials. This can lead to a complete loss of funds in the accounts. ICO scams, where fraudsters create fake projects promising big profits but disappear after receiving investment, are another serious threat.

Fraud on crypto exchanges is also a significant threat to cryptocurrency users. This can include fake exchanges created to steal users’ funds, hacks of legitimate exchanges where criminals use vulnerabilities in security systems to steal cryptocurrencies, and insider attacks where exchange employees can abuse their access to systems to commit fraudulent activities.

Importantly! These types of scams require constant vigilance, use of reliable platforms and compliance with security rules to minimize risks.

Legal recommendations for cryptocurrency protection

  • Before using any cryptocurrency platform, such as an exchange or wallet, you should carefully investigate whether the platform is licensed and complies with local regulatory requirements.
  • Comply with AML and KYC requirements when dealing with cryptocurrency platforms. This will help you avoid legal problems and reduce the risk of fraud.
  • Comply with tax requirements for declaring cryptocurrency income and transactions.
  • Use legally sound contracts when dealing with cryptocurrency, especially for large transactions or investments.
  • Keep your personal data and cryptographic keys in a safe place.
  • Consider insuring your cryptocurrency assets to protect yourself against potential losses.

Can we help?

The lawyers of the company “Prikhodko and partners” can provide all-round assistance in case of fraud with crypto-currency and crypto-wallets:

  1. Consultation and legal analysis. The lawyer “Prikhodko and partners” will conduct a detailed analysis of your situation, determine which financial laws have been violated, and provide recommendations for further actions. It will also explain your rights and possible protection options, help you understand the complex legal aspects of cryptocurrency fraud.
  2. Representation in court. Our company can represent your interests in court, prepare the necessary procedural documents and act as your defender.
  3. Case management. Preparation of a statement of claim and other documents necessary for filing complaints with law enforcement agencies and the court.
  4. Cooperation with law enforcement agencies. Cooperation with experts and law enforcement agencies to investigate fraud cases, collect evidence and identify offenders.
  5. Legal support for damages. The lawyer “Prikhodko and partners” will help judge the damages and provide material compensation.
  6. Legal security audit. We will conduct a security audit of your cryptocurrency assets and provide recommendations for their protection.

The law firm “Prikhodko and Partners” has experience in the field of cryptocurrencies and can provide high-quality legal support, helping clients protect their interests and minimize the risks of fraud. Contact us and we will help you return the stolen funds from your crypto wallet.

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Kovalev Artem
Head of criminal law practice

Head of problem debt practice, criminal lawyer

Contact now
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