Nearly 1.6 million UAH from a single client: police suspect the organizer of Money 24/7 of a major scam

Law enforcement officers have notified the organizer of the fraudulent network Money 24/7 of suspicion; the network, posing as a legitimate currency and cryptoasset exchange service, according to the investigation, misappropriated clients’ funds. One victim suffered property damage amounting to nearly UAH 1.6 million.

On 10 August 2026 the Department of Cyberpolice of the National Police of Ukraine reported this.

Operatives of the Department of Cyberpolice and investigators of the Main Investigative Department of the National Police, under the procedural supervision of the Office of the Prosecutor General, have notified the organizer of the Money 24/7 network of suspicion.

According to the investigation, the suspect, together with other persons, created a pseudo-financial platform. It was presented as a network of currency exchange points and a service for exchanging cryptocurrencies.

To make the operation appear legitimate, the scheme’s participants used specially created web resources, a Telegram channel, a registered trademark, and an office space set up as a cash acceptance point.

Clients submitted requests to exchange cash for cryptoassets, after which they were invited to the office. There, people handed over funds and awaited the crediting of cryptocurrency to their electronic wallets.

However, after receiving the money, the perpetrators, according to the investigation, did not fulfill their obligations.

To delay victims from contacting law enforcement, some clients were partially transferred cryptoassets. In addition, they were given written guarantees regarding the eventual completion of the operation.

So far, law enforcement has established that one of the victims suffered property damage amounting to nearly UAH 1.6 million.

In July 2026, police, with the tactical support of the TacTeam special unit of the Patrol Police Department, conducted more than 20 searches in seven regions of Ukraine.

During the investigative actions, more than UAH 20 million in cash in various currencies, computer equipment, mobile phones, storage media, documents and other physical evidence were seized.

Investigators informed the suspect of suspicion of organizing the misappropriation of another’s property by fraud on an especially large scale, committed by prior conspiracy of a group of persons – Part 3 of Art. 27, Part 5 of Art. 190 of the Criminal Code of Ukraine.

The court ordered pre-trial detention for the suspect. At the same time, bail was set at UAH 998,400.

If found guilty, the defendant faces up to 12 years of imprisonment with confiscation of property.

The pre-trial investigation is ongoing. Law enforcement is identifying all persons involved in the fraudulent network’s activities, as well as the full circle of victims.

Previously we wrote:

• In Mykolaiv region, a man lost over UAH 82,000 due to fake assistance
• Financial literacy — a key to safety: in the Shyrokiv community, a police officer warned citizens about fraudulent traps
• Discounted lumber: in Mykolaiv region, a woman lost nearly UAH 31,000
• More appeals, fewer registrations: the Korabelnyi District police summed up the half-year results
• In Mykolaiv region, five convicted persons will be tried for 44 counts of fraud