Uncovering the Scheme: From a "Legal" Office to Stealing Millions
In June 2026, Ukrainian law enforcement agencies conducted a large-scale special operation during which a fraud network named Money 24/7 was exposed and dismantled. The organizer of this scheme has been arrested and informed of suspicion of committing fraud. According to RBC-Ukraine, citing the Office of the General Prosecutor (OGP) and the National Police (NPU), the criminals created a complex infrastructure imitating the activities of a legal cryptocurrency exchange business.
The essence of the fraud lay in creating a false sense of reliability for clients. The perpetrators registered a trademark, launched professionally designed websites and Telegram channels, and also rented a real office where they accepted cash. People wishing to exchange hryvnias for cryptocurrency submitted applications online, after which they were invited to the office to hand over the funds. However, after receiving the money, the criminals did not fulfill their obligations and did not transfer the cryptocurrency to the victims' wallets.
Methods of Retaining Victims and Scale of Damage
A distinctive feature of the Money 24/7 scheme was the tactic of delaying victims' appeals to the police. To avoid immediate distrust, the fraudsters used psychological manipulation. Some clients were partially transferred cryptocurrency or provided with written guarantees of completing the operation in the future. This forced victims to wait, hoping for the company's honesty, which allowed the criminals to accumulate funds and expand the network.
According to the investigation, the damage from the network's activities was significant. In particular, one of the victims suffered property losses of about 1.6 million hryvnias. Investigators note that the scheme was designed for a mass scale, and the number of victims may be significantly higher, as many victims have not yet realized that they became participants in a fraud.
Contradictory Data
Although the main facts of the arrest and the fraud scheme are confirmed by official statements from the OGP and NPU, there are nuances in the details of the investigation that require clarification. In particular, the initial reports do not specify the exact number of arrested accomplices, other than the organizer. Furthermore, some sources mention that some assets were seized, but the exact amount of funds returned to the victims is not yet disclosed. This creates uncertainty regarding how fully the financial structure of the criminal group has been uncovered.
Context: The Rise of Cyber Fraud in 2026
The exposure of the Money 24/7 network occurs against the backdrop of a general rise in cyber fraud in Ukraine. Recently, the cyber police warned citizens about new schemes related to the sale of cars through fake ads, as well as fraud with educational courses. Experts note that criminals are increasingly using legal tools—such as trademark registration and office rental—to give their schemes the appearance of legality. This makes detecting such crimes more difficult and requires heightened vigilance and inter-agency cooperation from law enforcement.
Recommendations for Citizens
The National Police recommends that citizens exercise caution when exchanging cryptocurrency. Even the presence of an office and official registration does not guarantee the honesty of the business. Before making a transaction, it is necessary to check the company's reputation, read reviews, and also not hand over cash without prior confirmation of receiving the cryptocurrency. In case of suspicion of fraud, you should immediately contact the police.
