Cybercrime | FinTelegram News

Category: Cybercrime

March 6, 2021

The Insta Trading scam facilitated by BridgerPay and Zichain

Spanish CNMV has issued an investor warning against the Insta Trading scam allegedly operated by the Bulgarian Alcatel Group Ltd and/or Protiviti Group Ltd and/or Protiviti International EOOD are also involved as operators. These are fake companies. As payment processors, we have once again identified BridgerPay Cashier and, behind it, the crypto exchange Zichain OÜ and its Rashbe crypto service.

March 5, 2021

The 20+ Mio of scam operator Donnybrooker and the Lithuanian payment processors

Spanish CNMV issued an investor warning against the EuroFX scam operated by Donnybrook Consulting Ltd in the Commonwealth of Dominica. This offshore entity is also the operator of the Energy Markets scam. We have discovered the Russian Piastrix and the illegally operating Lithuanian payment processor Merelita UAB with the regulated e-money institution Epayblock as facilitators. Besides, we have discovered a BTC address with more than BTC490 (equivalent to almost $23.2M).

March 5, 2021

FCA warns against CoinePro broker scam with Inovestments and CCX Markets legacy

The UK FCA has issued an investor warning against the FX and CFD scam broker CoinePro (www.coinepro.com), operated by the Estonian ExchangePower Technology OÜ with registration code 14632465. The only director registered is Nikolay Kunev Kolev, who is also the beneficial owner of Domus Partners Ltd, St. Vincent and the Grenadines, which operated the Inovestment and CCX Markets scams, among others. The CoinePro scam is apparently just the latest link in a long chain of scams since at least 2017.

March 5, 2021

Investor Warning against FXX Trader broker scam facilitated by BridgerPay

Cyprus is high on the list of evil payment processors that support cybercrime and its scams with their technology and services. The Central Bank of Cyprus, as the responsible regulator, does precious little in the fight against these payment villains. These include the Israelis Amit Klatchko and Ran Cohen and their payment processors Praxis Cashier and BridgerPay, respectively. In the FXX Trader scam, the UK FCA has issued an investor warning against we have once again discovered BridgerPay.

Illegal Broker Activities

March 4, 2021

Investor Warning – Crystal Ball Markets is most likely a scam

The unregulated offshore broker Crystal Ball Markets (www.crystalballmarkets.com) is allegedly operated through a legal entity with registration number 262 LLC 2020 in St Vincent and the Grenadines. The only employee we found on LinkedIn is Naina Sharma in Uttar Pradesh, India. However, the profile does not look real. The broker is currently very active on Instagram, Twitter, and Facebook and evidently tries to build up credibility. We found iPayTotal, PayStruct, Perfect Money, and Euro Pacific Intl. Bank Inc. as payment processors. The broker, of course, accepts crypto.

March 2, 2021

Investor Warning – TradingNetwork broker scam with illegal payment processor Skylas

TradingNetwork broker scam is another white-label scam from one of the many scam factories. The scam is allegedly operated by Wabbit Group Ltd, which is registered in the Commonwealth of Dominica. We can now operate these scams almost blindly because the processes and procedures are all the same for these scams. Only domains, brands, and operators change. Also, the scam-facilitating payment processors are almost always the same. This time, we have discovered the illegal Lithuanian payment processor Skylas UAB again.

March 2, 2021

Investor Warning – Universal Markets broker scam facilitated by Praxis Cashier

When analyzing the scams against which the UK Financial Conduct Authority (FCA) issued an investor warning yesterday, two suspects stand out once again - Praxis Cashier as a payment gateway and St. Vincent and the Grenadines as the given address of the scam operating entities. This is also the case with Universal Markets (www.umarkets.io, www.umarketspro.com, or www.umarketspro.net). The scam is allegedly operated by Universal Services LLC and/or UM Media LLC.

March 2, 2021

Good Morning St. Vincent – Investor warning against Sky Capital Broker Scam

There are beautiful places that, unfortunately, are also associated with terrible events. For example, today's vacation paradise Vietnam will long be associated with the Second Indochina War. The Caribbean island nation of St. Vincent and the Grenadines, on the other hand, will long be known as one of the offshore centers through which cybercriminals and scammers have conducted their crimes via offshore entities. The Sky Capital broker scam (www.skycapital.cc and www.skycapital.co) operated by Geiko Holdings Ltd is one of them. With Cashir.Live and Paystruct as its payment facilitators.

March 2, 2021

Investor Warning – Don’t fall for crypto scam FXoptionTrade

The UK FCA has issued an investor warning against the broker scam FXoptionTrade. This scam acts as a clone of the FCA-registered Tickmill UK Ltd (www.tickmill.co.uk). Allegedly, the trading is done via a trading bot achieving up to 15% ROI within just seven days in different investment plans. Bullshit it is! The only way to deposit is Bitcoins (BTC). The scam is sloppily made and a white-label solution from one of the many scam factories. In fact, you can find so many spelling mistakes and flaws that victims should not fall for it.

March 1, 2021

The Ukraine-Lithuanian Finmax scams still active with Praxis Cashier and Spanish partners

Finmax scams have been active since at least 2016. Various regulators and review sites have already issued numerous investor warnings. Nevertheless, the scam is currently active with at least two websites FinmaxFX (www.finmaxfx.com) and FinmaxBO (www.finmaxbo.com). The two Ukrainians, Olena Vakulenko and Oleksandr Vakulenko, coordinate the scams through various legal entities in Lithuania, Vanuatu, Seychelles and St. Vincent and the Grenadines. To date, despite all scam warnings at FinmaxFX, Praxis Cashier with the Spanish Redsys and Comercial Global Payments as payment processor is active.

March 1, 2021

Another warning against Max Capital scam FinMax and its mutations

Regulators have warned against the FinMax scams already. In Jan 2019, the German BaFin warned against the mutation FinMaxBO and issued a Cease-and-Desist Order today. In Oc 2020, the Spanish CNMV warned against the mutation FinmaxFX. The scams are operated by Max Capital Limited, Vanuatu, and Gatelinas UAB, Lithuania. Although Max Capital is licensed by the VFSC, it's not authorized to scam anybody. As scam-facilitation payment processors, we have uncovered Webmoney, Jeton, VLoad, advcash, and Aveia.

February 24, 2021

Consob Enforcement Action – 27ProQuote scam still active offering high crypto deposit bonus

The 27ProQuote (a/k/a ProQuote27) scam is one of them. Most recently, Italy's Consob ordered the black-out of the scam's website www.27proquote.com. FinTelegram reported that Maltese ApcoPay was uncovered to be a payment facilitator in the 27ProQuo scam. Lately, the scam has bet on crypto, promising up to a 50% bonus on crypto deposits. At the time of our re-review (24 Feb 2021), the registration and login page was offline.