Organizer of Money 24/7 network arrested: customers were scammed under the guise of cryptocurrency exchange

The organizer of the fraudulent Money 24/7 network was reported suspicious and taken into custody as a preventive measure. According to the investigation, the participants in the scheme created a pseudo-financial platform through which they received money from clients, supposedly for exchange for cryptocurrency, but did not fulfill their obligations.

This was reported by the Prosecutor General’s Office.

How the scheme worked

According to law enforcement officers, the participants in the scheme organized the activities of the Money 24/7 platform, which was positioned as a network of exchange points and a service for transactions with crypto assets.

To create the impression of legal activity, they used web resources, a Telegram account, a trademark, and an office equipped as a cash point.

Clients transferred money to the network participants for further exchange for cryptocurrency. According to the investigation, after receiving the funds, the attackers did not fulfill the agreements.

At the same time, crypto assets could be partially transferred to individual clients or written guarantees could be provided. Law enforcement agencies believe that in this way the participants in the scheme tried to maintain the trust of the victims and postpone their appeal to the police.

According to the investigation, one of the victims suffered losses in the amount of more than 1.59 million hryvnias.

More than 20 searches and millions in cash

Law enforcement officers exposed the activities of Money 24/7 in July 2026.

As part of the investigation, more than 20 searches were conducted in seven regions of Ukraine. During the investigative actions, more than 20 million hryvnias in cash in various currencies were seized, as well as documentation, computer equipment, mobile phones, data carriers and other physical evidence.

Currently, law enforcement officers are identifying all persons who could have been involved in the operation of the network, as well as the full range of victims.

The pre-trial investigation is ongoing. The final legal assessment of the suspects’ actions must be provided by the court.