Law enforcement agencies are investigating a cryptocurrency pyramid scheme that was discovered on Telegram in August 2025. The scheme, known as Smart Club, used social media platforms to attract investors with promises of high profits from cryptocurrency trading.
The investigation revealed that the scheme operated through a fake exchange called Walletry, which artificially simulated profits of around 10% per month. To create an illusion of trust, partial withdrawals were allowed, but a significant portion of the profit was returned to the organizers as 'service fees.'
As the investigation progressed, it was found that over 20 residents from the Chernivtsi region had fallen victim to the scheme, with damages considered especially large. The authorities have identified key figures involved in the operation, including a moderator who has been detained.