We have received an email introducing a new cryptocurrency that will make us rich. The link in the email takes us to a MyShopify page and a cheering article about the Chinese Yuan Coin, a state-approved crypto coin issued by YuanPay Group. Bullshit, it is! From there, we are taken to the YuanPay Group site (https://digitalsouce.com/yuanpayapp_de), i.e., to the fraudulent campaign. Upon registration, we are redirected to the payment page of various scams such as HashTrade (http://www.hashtrade.io), algofgain (http://www.algofgain.com), or AGKapital (http://www.agkapital.com). There is no such thing as a Chinese Yuan Coin.
We already know the HashTrade scam (http://www.hashtrade.io) from our research and exposed them and their facilitating payment processors. However, the scam has integrated a new illegal payment processor. This is the Lithuanian Dilomita UAB with a bank account with The Currency Cloud Limited (http://www.currencycloud.com) to which potential victims should deposit their future loss. hey use fake invoices (pictured left) to relabel these illicit proceeds and launder the stolen money.
On its website (www.dimolita.tech), the company bills itself as an IT services company. However, the truth is that with Dilomita (companies register), we have discovered just another illegal Lithuanian payment processor that launders money for scammers via bogus invoices.
In the algofgain (http://www.algofgain.com) scam, we have discovered as many as 14 supporting payment processors. Among them, we find the usual suspects like iPayTotal and new ones like Estonian bitngo (http://www.bitngo.co) or Turkish RHGPARTNERS (http://www.rhgpartners.com). We will therefore discuss the algofgain in a separate review.