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Warning against a clone of CySEC-regulated CharlGate!
We recently reported a warning issued by the Austrian Financial Market Authority (FMA) against ATFX Global, a clone of the ATFX Group. Their companies are regulated in Europe by the UK FCA and the Cypriot CySEC. The operators of the fraudulent ATFX clone are apparently also running a clone of the CySEC-regulated CharlGate Ltd d/b/a FXVIEW (www.fxview.com). This fraudulent clone is working with the domain www.charlgate.net/eu. And it primarily attacks German-speaking consumers.
Latest Updates
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Tredexo broker scam attacks European consumers!
The Tredexo (www.tredexo.com) broker scam is currently hunting for European victims. ABAX Inc., registered in St. Vincent & The Grenadines, is allegedly the scam operator that attacks victims in English and German. Through PaynetEasy's ShinePays cashier (https://gate.shinepays.com), potential victims can lose their money via credit and debit cards as well as Bitcoin deposits. Stay far away and keep your money.
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Urgent Alert! Do not lose your money with Bitcoin Wealth Investment
It's actually getting boring to issue warnings against crypto investment schemes several times every day. These seem to be spreading pandemically. The barriers to entry are non-existent for scammers. They fantasize about investment plans that promise investors staggering profits via algorithms and trading bots within days. Just like Bitcoin Wealth Investment (https://bitcoinwealthinvestment.com) does. Stay far away, please.
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Crypto Scam Alert! UK regulator warns against Bitcoin 24 Vantage FX, Crypto Prospect, and Bitfargo
Currently, we are falling over new crypto investment schemes every hour. They try to defraud consumers with sometimes absurd offers and promises. In recent days, the UK FCA has issued more than a dozen warnings against these crypto schemes. Most recently, the UK regulator has issued warnings against Crypto Prospect (www.cryptoprospecttradingfx.com), Bitcoin 24 Vantage FX (www.bitcoin24vantagefx.com), and Bitfargo (www.bitfargo.io). Stay far away.
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Watch Out BaFin! Notorious high-risk payment processor Fibonatix goes Berlin!
This is perhaps not too good news for the German regulator. Fibonatix, founded by the Israeli Tal Miller, is a notorious high-risk payment processor. It has been facilitating dozens of broker scams. Fibonatix was also one of the payment processors of Gal Barak's cybercrime organization E&G Bulgaria. Barak confirmed that in addition to Payvision, Fibonatix was laundering stolen funds. Fibonatix, regulated as a payment institution by the FCA since 2018, announced the opening of an office in Berlin. It plans to serve the put a specific focus on the DACH region!
Payment Processors
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Finally! German BaFin investigates licensed Estonian scam facilitator mercuryo
FinTelegram has pointed out several times in recent months that mercuryo (www.mercuryo.io and www.mercuryo.co), a licensed crypto exchange in Estonia, is facilitating payment processor broker scams on a large scale and laundering money stolen from customers for them. We have discovered mercury acting as a payment facilitator for scams GlareMarkets (here), CryptoDock (here), and AMarkets (here). It's about time regulators started looking into mercury.
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Please notice! Broker scams Tandem Markets and Global Morgan on the hunt!
In our reviews today, we have discovered that currently, via Yuan Pay a/k/a Yuan Pay Group scam campaign, the broker scam Tandem Markets (www.tandemmarkets.com) is being promoted. This scam is operated by the same boiler rooms and marketing companies as Global Morgan (www.globalmorgan.com). Currently, there are no warnings from regulators against either scam. Stay far away and keep your money and data.
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BaFin follows FinTelegram and investigates vanished RocketChart broker scam
In April 2021, we issued a warning against the RocketChart broker scam that wanted to catch victims via fraudulent marketing campaigns like BitQT. Also, in German-speaking countries. It took a few months before the German regulator BaFin announced an investigation into the scam, which has since disappeared. The investigation probably won't yield much insight, but it may be enough to file a report with the relevant law enforcement agency?
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The calamities of Lithuanian high-risk payment processor Trustcom!
A Lithuanian law firm representing a Bulgarian and a Portuguese company in disputes with the regulated Lithuanian high-risk payment processor Trustcom Financial UAB, which froze the funds of these companies. This case turned into a criminal investigation conducted by the Lithuanian authorities. They suspect money laundering in the amount of more than €1 million in the context of their clients, they say. Another report by Lithuanian online news site Delfi said the Lithuanian FNTT had fined the company €125,000 for money laundering.
Cybercrime Court Cases
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Video showing the arrest of cybercrime activist Kfir Levy in the Philippines
Israeli citizen Tal-Jacki "Jacki" Fitelzon is currently on trial in Munich. He is accused of being a ringleader of Gal Barak's cybercrime organization E&G Bulgaria. On the first day of the trial in Munich, Jacki Fitelzon pleaded guilty and confirmed that E&G Bulgaria was a criminal organization. His co-conspirator, Israeli Kfir Levy, was arrested in the Philippines in October 2021 at the request of German prosecutors. Here is the video of his arrest while he was in a restaura
Regulatory Updates
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Latvian Racket! Morgan FX Capital scam still attacks European consumers!
In September 2021, Spanish CNMV issued an investor warning against the Morgan FX Capital broker scam. The operator of this scam is UK-registered Preqster Ltd which already operated the vanished scams Pips500 and Preqster FX. It is controlled by the Latvian citizen Sergejs Vasiljevs and is one of the many legal entities of the so-called Latvian Racket. While Morgan FX Capital is still active, Preqster Ltd has been dissolved via a compulsory strike-off in Nov 2021. Stay away from Morgan FX Capital.
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Ponzi Alarm! Stay away from crypto scheme INVESTcCOINS a/k/a DictX-Trade
Currently, we could issue dozens of warnings about crypto investment scams every day. They are literally sprouting like mushrooms from the fertile ground of the ongoing crypto bull cycle. The UK FCA issued an investor warning against the crypto Ponzi scheme INVESTcCOINS Funds a/k/a DictoX-Trade. Like many others, this crypto scheme offers (boring) investment plans that promise up to 85% profit within a few days. This is bullshit and fraud! Stay far away.
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Crypto Investor Alert – Stay away from eTradeLimited, JCGlobal Invest, and TAAl Trading schemes
Crypto Investor Alert - Do not fall for eTradeLimited, JCGlobal Invest, and TAAL Trading crypto investment schemes. Like Cascadia-Capital and TMF Investments, which we recently warned about, eTradeLimited, JCGlobal Invest, and TAAL Trading offer various investment plans with which you can supposedly earn 200% (!!!) within a few days. How is that supposed to work even theoretically? These ridiculous ROI promises can't even take place in a bullish crypto market. These promises are simply scams on extremely naive consumers. Stay far away.
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Join the fight against cybercrime!
European Funds Recovery Initiative (EFRI) is a non-government organization with the mission to support scam and cybercrime victims.
