Organizer of Money 24/7 pseudo-exchange network arrested

Law enforcement officers reported suspicion and arrested the organizer of the fraudulent Money 24/7 network. Its participants, according to the investigation, appropriated clients' money under the guise of exchanging cash for cryptocurrency.

The platform positioned itself as a network of currency exchange points and a service for operations with crypto assets. To create the appearance of legitimate activity, the organizers used web resources, a Telegram account, a trademark, and an office equipped as a cash acceptance point.

Clients handed over money to network participants for exchange into cryptocurrency, but after receiving the funds, the latter did not fulfill their obligations. To some victims, the perpetrators transferred only part of the promised crypto assets or issued written guarantees. In this way, they tried to preserve the trust of clients and delay their appeal to law enforcement.

According to the investigation, one victim alone suffered losses of over UAH 1.59 million.

The activities of Money 24/7 were uncovered in July 2026 during a large-scale special operation. At that time, law enforcement officers conducted over 20 searches in seven regions of Ukraine.

During the investigative actions, they seized over UAH 20 million in cash in various currencies, as well as documents, computer equipment, mobile phones, electronic storage devices, and other physical evidence.

Currently, law enforcement officers are identifying all network participants, other victims, and the full circumstances of the pseudo-financial platform's operation.

In accordance with Article 62 of the Constitution of Ukraine, a person is presumed innocent until proven guilty by a court conviction.

Based on materials from: Office of the Prosecutor General