The organizer of a fraudulent cryptocurrency exchange network has been served with a notice of suspicion
Kyiv • UNN
The organizer of the pseudo-financial platform Money 24/7 has been served with a notice of suspicion and arrested. According to the investigation, clients suffered losses, including one victim who lost more than UAH 1.59 million.
The organizer of the Money 24/7 fraud network has been served with a notice of suspicion, the Prosecutor General’s Office said on Monday, UNN writes.
Under the procedural guidance of the Prosecutor General’s Office, the organizer of a fraudulent scheme has been served with a notice of suspicion and arrested. Law enforcement officers exposed the scheme during a large-scale special operation in July 2026. According to the investigation, the suspect, together with other individuals, organized the operation of the pseudo-financial platform Money 24/7, which presented itself as a network of exchange offices and a crypto-asset exchange service
According to the prosecutor’s office, "web resources, a Telegram account, a trademark, and an office equipped as a cash-receiving point were used to create the appearance of legitimate operations."
As stated, clients handed over funds to exchange them for cryptocurrency; however, after receiving the money, the scheme’s participants failed to fulfill their obligations. In order to maintain trust and delay appeals to law enforcement, they partially transferred crypto-assets to some victims and provided written guarantees, the prosecutor’s office said.
According to the investigation, one of the victims suffered losses of more than UAH 1.59 million.
In July 2026, Prosecutor General Ruslan Kravchenko reported that the activities of Money 24/7 had been exposed. At the time, law enforcement officers conducted more than 20 searches in seven regions of Ukraine and seized more than UAH 20 million in cash in various currencies, as well as documents, equipment, phones, data storage devices, and other material evidence.
All participants in the scheme, victims, and other circumstances of the criminal offense are being identified, the PGO said.