Scam-facilitating Estonian crypto payment processor Tinkbit offline

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As recently as March 2021, white-label payment gateway provider Akurateco announced via press release that, in addition to Tranzzo and Connectum, it has also integrated licensed Estonian crypto payment processor Tinkbit OÜ d/b/a Tinkbit (http://www.tinkbit.com) into its portfolio. Surprisingly, today the website is down and producing the Error 1016 Cloudflare error message. Maybe it’s just a short-term problem, maybe not. In recent months, Tinkbit has come to our attention as a scam-facilitating payment processor. Karmo Neider and Erik Johan Fredung are installed as directors of Tinkbit OÜ.

According to the Estonian companies register, the Swede Erik Johan Fredung is the beneficial owner of Tinkbit. We have seen Tinkbit along with the Praxis Cashier payment gateway as a payment processor in several scams such as GNTFIN, blocked by the Italian regulator Consob in August 2020 (report here), or HBC Market (report here).

We would like to know more about Tinkbit and its network of people and companies. If you have any information, we would be grateful if you could share it with us.

CategoriesCrypto Payments

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