Suspects in creating an online cryptocurrency exchange in Ukraine face up to six years in prison

The Khmelnytsky region’s cyberpolice have identified two suspects in organising an illegal online cryptocurrency exchange and a number of electronic currencies banned in Ukraine. The department’s website reports.

The alleged offenders were two men aged 35 and 45.

Police found accounts in electronic payment systems and in banks through which the illicit financial operations were conducted.

Authorities have opened criminal proceedings under articles concerning illicit actions with transfer documents, payment cards and other means of access to bank accounts, as well as money laundering of proceeds obtained by criminal means.

Earlier in June, the Ukrainian cyberpolice closed 20 online exchanges for laundering funds using cryptocurrencies.

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