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The Insta Trading scam facilitated by BridgerPay and Zichain

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The Spanish regulator CNMV issued an investor warning against the Insta Trading (http://www.insta-trading.com) scam allegedly operated by the Bulgarian Alcatel Group Ltd and/or Protiviti Group Ltd and/or Protiviti International EOOD. Fake companies they are! The Novel Tower in Larnaca, Cyprus, and The Gherkin, London, are provided as prestigious addresses on the website. As payment processors, we have once again identified BridgerPay Cashier and, behind it, the crypto exchange Zichain OÜ (http://www.zichain.eu) and its Rashbe a/k/a AirPalas (www.airpalas.com) crypto service.

Estonian crypto payment processor Zichain and its network

The Insta Trading scam is indeed sloppily done and easily recognizable as a scam. For example, the registration confirmation email is full of formatting errors. On the other hand, BridgerPay Cashier is now directly integrated into the scam pages on a window-in-window design. However, once again, the question arises how Ran Cohen and his BridgerPay can accept scam clients like Insta Trading. Hopefully, it is only a matter of time before law enforcement takes a look at these evil payment processors.

The regulated Estonian high-risk payment processor Zichain and its crypto payment services http://www.zichain.eu, CryptoEye (http://www.cryptoeye.eu), Rashbe (http://www.rashbe.com), and AirPalas (http://www.airpalas.com) have increasingly come to our attention as payment processors for scams in recent weeks. Currently, both websites http://www.zichain.eu and http://www.cryptoeye.eu are not available. You only get the Cloudflare error codes 522.

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