Ukrainian Police Shut Down Money 24/7 Crypto Exchange Scam

Ukrainian authorities have shut down a cryptocurrency exchange scam that operated under the guise of 'Money 24/7'.

The fake platform, which claimed to offer currency and cryptoasset exchange services, was uncovered by cyber police during an investigation that spanned seven regions in Ukraine.

Over ₴20 million (approximately $660,000) in cash was seized from the suspects' offices, as well as computer equipment, mobile phones, data storage devices, and documents related to the scheme.

The organizer of the scam faces up to 12 years in prison with confiscation of property, according to Ukrainian law.