Money 24/7 Suspected in Major Ukrainian Cryptocurrency Fraud Scheme
A Ukrainian cryptocurrency exchange called Money 24/7 is suspected of being involved in a major fraud scheme. According to an investigation, the service pretended to be a legitimate platform for exchanging currencies and cryptocurrencies, but after receiving money from customers, it failed to deliver the promised cryptocurrency.
The organizer of the network has been notified of suspicion of fraud by law enforcement officials. One victim may have lost nearly 1.6 million hryvnia (approximately $48,000 USD) in this manner.
Investigators claim that the suspects did not act alone and created a pseudo-financial platform with specialized websites, a Telegram channel, and a registered trademark to convince customers of its legitimacy. They even set up an office that looked like a real cash-handling facility.