Skameri exposed – the crypto scam stealing millions

Lucy ran a business. Derek worked in finance. Both understood markets and risk. And yet, both lost six-figure sums to a crypto scam so convincing it fooled even seasoned investors. If they didn’t see the warning signs, what hope does the average person have?

Their stories challenge the common belief that only beginners and uninformed investors fall for fraud. Instead, they reveal a disturbing truth – even those with financial expertise can be manipulated by a scam sophisticated enough to mirror the real investment world.

What they didn’t know was that they had been targeted by Skameri, a professional fraud network operating out of Georgia. The scammers named themselves – "Skameri" is Georgian slang for scammer, a term they proudly used to describe themselves inside the call center running the fraud.

A former stock exchange professional outplayed by the game

Photo: Unsplash / Nathan Dumlao

Derek had spent years analyzing market trends, understanding risk, and working within the financial system. When he came across a high-tech crypto investment platform that appeared to use AI-driven strategies, it didn’t seem like a scam – it seemed like the future.

According to The Guardian, he started cautiously, investing £250 ($322). The platform’s sleek interface mimicked professional trading terminals, showing rising profits, market charts, and real-time news. Encouraged, he upgraded to a premium account, investing £5,000, then more.

By the time he realized the truth, Derek had handed over £162,000. The fortune he believed he had built was nothing but a mirage.

What he didn’t know was that Skameri’s call center agents had already profiled him as a “high-value target.” Leaked records analyzed by OCCRP show that their fraud operation used sophisticated sales tactics to push victims like Derek toward larger and larger deposits. The more experienced the investor, the deeper they tried to hook them – and the more ruthless their strategies became.

When business instincts fail

Photo: Unsplash / Christin Hume

Lucy, 61, had spent her career building a business. She had made tough financial decisions, learned to navigate risk, and understood the importance of due diligence. She wasn’t the type to fall for get-rich-quick schemes.

That’s why, when she came across a crypto trading platform claiming to offer AI-powered investments, she didn’t dismiss it outright. AI was transforming industries – why not trading? The website was professional, the platform sophisticated, and it seemed to be endorsed by well-known financial figures.

According to The Guardian, deepfake videos featuring TV personality Ben Fogle and financial expert Martin Lewis were circulating on social media, showing them enthusiastically promoting the service. Lucy had no reason to suspect these were fake.

She started small, but as her account balance grew, so did her confidence. Encouraged by her so-called investment advisor, she pulled money from her pension, transferring more funds in hopes of securing long-term gains.

But behind the scenes, Skameri’s call center was celebrating every deposit. Internal chats leaked to journalists show scammers exchanging messages about their “clients,” joking about their personal lives, and competing to extract the most money.

Then, the withdrawals stopped. Every attempt to cash out was met with new obstacles – tax fees, withdrawal charges, anti-money laundering verifications. Each required another deposit. The urgency escalated: if she didn’t act fast, her account would be frozen.

By the time she realized she’d been scammed, Lucy had transferred £100,000. The instincts that had guided her in business had failed her in crypto.

The tactics that fooled even the experienced

The scammer's nondescript call center on Kavtaradze Street in Tbilise, Georgia. Photo: SVT

What makes these scams so effective – even against those who should know better?

The leaks analyzed by OCCRP provide a rare glimpse into how Skameri operated. The Georgian call center, which targeted both Derek and Lucy, ran like a professional trading firm – complete with training manuals, sales targets, and performance-based incentives.

Scammers were trained to act as real financial advisors. They built rapport by mirroring their targets’ interests – Derek was drawn in by discussions on market trends, while Lucy connected with her broker over business challenges. Some agents even encouraged victims to keep a small reserve of cash, making them feel in control while ensuring they had funds left to invest more.

The key psychological trick? The illusion of exclusivity.

Like real hedge funds and private equity firms, Skameri marketed its schemes as elite investment opportunities. They had tiered accounts – Bronze, Silver, Gold – each requiring a higher investment for greater returns. The most promising clients, like Derek and Lucy, were passed on to “retention” agents – scammer equivalents of private bankers, whose sole job was to extract as much money as possible.

One of the most successful agents, who went by the alias Mary Roberts, was personally responsible for bringing in $80,000 a month. According to OCCRP, she cultivated trust, appearing warm and knowledgeable – until victims tried to withdraw their money. Then, she turned aggressive, mocking them for being “stupid” and threatening them if they refused to pay additional fees.

A system designed for impunity

Photo: Unsplash / Kobu Agency

Derek and Lucy were far from alone. According to The Guardian, at least 6,179 victims lost money to Skameri – but this was just one piece of a much larger problem.

The leaks indicate another fraud network, run from Israel with call centers in Bulgaria, Cyprus, and Spain, made an estimated $240 million over three years. Many of these scams operate with near impunity, crossing multiple jurisdictions and making prosecution nearly impossible.

Victims who try to recover their money often hit dead ends. Lucy reported her case to her bank, only to be told that because she had authorized the transfers, there was little they could do. Derek contacted Action Fraud, the UK’s national reporting center for fraud and cybercrime, but was informed that the police had no jurisdiction over scammers operating overseas.

Meanwhile, the perpetrators continue to flaunt their wealth. OCCRP’s investigation revealed that some of Skameri’s top scammers used stolen funds to fund luxury vacations, buy designer clothing, and drive Rolls-Royces. The mastermind behind the operation, Akaki Kevkhishvili, reportedly withdrew $130,000 in personal funds in just three months while maintaining a private security detail.

The cost beyond money

For Lucy, the biggest loss wasn’t the money – it was the self-doubt. She had built a successful business through years of careful decision-making, only to fall for a scam. “I should have known better,” she told The Guardian. “But they made it seem so real.”

Derek, too, was left reeling. His background in finance should have protected him, but the sophistication of Skameri’s operation had outplayed even his expertise.

The lesson, he says, is that intelligence and experience are not enough. “These scams are designed to break through even the strongest defenses. The moment you think you’re too smart to be scammed – that’s when you’re most vulnerable.”

The bigger question – who will stop them?

As investigations into Skameri unfold, one thing remains clear: without stricter international enforcement and better protections for victims, the scammers will simply move elsewhere.

For Derek and Lucy, the damage is already done. But if there’s one thing they hope for, it’s that others will learn from their mistakes – before it's too late.