Victims of cybercrime and financial fraud  protest outside Armenian  Government building

ArmInfo.  Armenian citizens who have suffered from cybercrime and financial fraud held a protest outside the government building on July 1.  With their actions, they  attempted to draw the attention of law enforcement agencies to the  fraud committed by an investment organization.

Speaking to the reporters from the  "Public Control" NGO, human  rights activist Mher Karagezyan stated that protesters would continue  to gather until the rights of those harmed by the investment fraud  are fully restored.  "The state has yet to establish effective  mechanisms, which is why we are demanding the creation of a targeted  fund to ensure the restitution of citizens' financial rights,"  Karagezyan said. He further criticized government initiatives,  adding, "The state has not yet managed to mitigate the consequences  of existing cybercrimes and investment fraud, yet it is already  initiating the creation of a centralized database for citizens' phone  IMEI codes, which will only create fertile ground for new cybercrimes  in the future."

One of the protesters, Migran Danielyan, reported losing $12,000 on  the Hellobit platform. According to him, the actions of the scammers  represent not only financial fraud but also a matter of national  security.

"The HelloBit financial investment platform operated in Armenia from  September 2024 to November 2025.  For over a year, this platform  maintained numerous offices across Armenia, printed brochures,  distributed them to citizens, and plastered their logos on cars,  storefronts, barbershops, and gas stations—advertising was running  around the clock. I address this to the Director of the National  Security Service, Mr.  Simonyan: is this not a national security  issue? Where were you looking for all those months? Did you really  not see any of this? I hope Mr. Simonyan will answer me," Danielyan  stated.

Participants noted that the organization had operated openly for  months without sufficient oversight.  Consequently, citizens  expressed strong dissatisfaction with the performance of the  Investigative Committee and the Prosecutor General's Office, citing  negligence and inaction by these law enforcement agencies.