Yerevan-based group posed as US carriers, stole freight and converted proceeds to crypto, Armenian police say

Armenian cyber police detained a group in a Yerevan hotel on July 23, alleging they masqueraded as U.S. freight carrier employees. The suspects allegedly rerouted shipments, sold the goods and converted the profits into cryptocurrencies, according to the Armenian Interior Ministry. The ministry did not disclose the total financial loss or cargo types involved.

The operation, described as an "organized scheme" involving "particularly large amounts," was conducted in collaboration with the country’s Investigative Committee and the U.S. law enforcement agencies. Suspects utilized specialized computer equipment and software to impersonate legitimate freight companies, gaining the trust of businesses handling transportation services.

They redirected shipments to different locations, sold the stolen goods and transferred the earnings into privately controlled accounts, which were then exchanged for various cryptocurrencies. The U.S. authorities are also investigating the case, seeking additional evidence and identifying other groups potentially involved in similar schemes within Armenia.

Authorities have not identified any U.S. victims or specific details about the stolen shipments, pick-up or delivery locations, or the identities of the arrested individuals.