Deep Tide TechFlow message: On May 30, Ukrainian prosecutors recently accused a group made up of multiple former police officers of kidnapping cryptocurrency entrepreneurs and carrying out extortion, with the amount involved exceeding $2.2 million.

Prosecutors said the group includes four officers, including two former police colonels, as well as a civilian with a criminal record. They used police resources and vehicles to impersonate law enforcement officers, kidnapping and extorting people in the crypto industry.

Investigations show that at least four crypto entrepreneurs have been confirmed as having been harmed so far. In one case, a victim living in Kyiv was kidnapped at gunpoint and forced to sign fake debt documents worth $5 million.

At present, the officers involved have all been dismissed, and the case has been handed over to the court for trial.