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Spanish Watchdog CNMV warns against Russian crypto scam Deal Trade

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With daily reports of record prices and superlatives in the cryptocurrency space, it is not surprising that scammers also want to secure a big piece of the pie. Almost every day, financial market regulators warn against new crypto scams. This week, the Spanish regulator CNMV issued an investor warning against the Deal Trade scam (http://www.dealtrade.io) operated by the UK-registered Deal Trade Inc Ltd. As payment processors, we have identified Perfect Money and Payeer. However, the scam merchant is currently disabled on the latter.

The Deal Trade scam promises potential victims a daily interest rate of 3% on their deposits. The scam works with an app that is available for free in the Android store. The publisher of the app is Neon 2020, which has also released a Russian app.

Via the Deal Trade website and the Perfect Money payment option, the registered merchant is Deal Trade Inc Ltd with Company No 12934962. This is registered in the UK since October 2020 and is controlled by British citizen Adam Bramer, born September 1987. He is also the sole director. What makes this company special is that it has a GBP 2 million capital, which according to the UK Companies House filing, is fully paid up by Adam Bramer. The company register extract is also proudly displayed on the website. However, these claimed deposits are not confirmed by an auditor or bank, and no such confirmation is needed. Whether the GBP 2M is actually deposited may be doubted.

On Deal Trade‘s Twitter channel, visitors are welcomed in Russian. We suspect that Deal Trade is indeed a Russian scam, an assumption that is also supported by the use of Perfect Money as a payment option and the Russian app in the Android store.

Do not fall for the crypto scam. Stay super cautious and don’t get confused by the crypto hype.

CategoriesCNMV

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