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Jubiter CEO Richard Brockhume explains the difficulties with scammers!
FinTelegram writes mostly negatively about companies and persons, which is owned to the fact that we are committed to protecting investors and consumers. Thus, we warn against scams and their facilitators. Most recently, the crypto payment processor Global DLT Exchange S.R.O. was in the focus of our reports. We spoke with Jubiter and CoinDeck CEO Richard Brockhume about it to better understand scam-related issues for crypto payment processors.
Latest Updates
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Urgent Attention! Broker scam FXQuote247 still chasing European victims!
Recently, we have issued warnings against the broker scams FX-Capitalize (www.fxcapitalize.com) and FXQuote247 (www.fxquote247.com). Lacari Group Ltd, registered in St. Vincent & the Grenadines, allegedly operates these scams. This offshore entity also operated the vanished scam proFXCredit (www.profxcredit.com). The UK Financial Conduct Authority (FCA) issued an investor warning against the FXQuote247 scam and states the address of a Bulgarian boiler room.
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Wow! CFTC awarded record-breaking $200 million to whistleblower
Whistleblowers are the most potent weapon of law enforcement and regulators. The U.S. Commodity Futures Trading Commission (CFTC) announced an award of nearly $200 million to a whistleblower whose specific, credible, and timely original information significantly contributed to an already open investigation and led to successful enforcement action well as to the success of two related actions. The whistleblower’s information led the CFTC to substantial, direct evidence of wrongdoing.
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Whistleblower campaign – U.S. and Canada authorities search for Cartu Brothers!
The Israeli-Canadian Cartu Brothers - David Cartu, Joshua Cartu, and Jonathan Cartu - are notorious binary options scammers and are in big trouble with regulators and law enforcement agencies in the U.S. and Canada. In Toronto, the Ontario Securities Commission (OSC) has brought a fraud complaint against the brothers. The U.S.CFCT has also sued the brothers for alleged binary options fraud in Texas. David Cartu is also notorious for his proximity to Wirecard. Insiders claim he was a major Wirecard shareholder.
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The Wandering Fraud & an update on the GetFinancial Case!
Simona Weinglass provided an update on the GetFinancial Case and the respective law enforcement actions in Israel, which have been initiated by German prosecutors. Allegedly, 15 people have been questioned by the police, four are said to be extradited to Germany. Court documents show that the cybercrime organization ran the scams GetFinancial, IntegraOption, SolidCFD, TradeSolid, BitCapitalMarkets, MyCoinbanking, Procapitalmarkets, Profitstrade, FXPace, Acceptrade, and Gainfintech using the platforms SpotOption and Tradologic.
Payment Processors
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R4I – Have you heard about the WALP Entertainment?
We did not know about WALP Entertainment S.R.L. until recently. The company supposedly is registered in Costa Rica and is massively involved in crypto gambling. This offshore entity also operates the unlicensed crypto gambling site Pasino (www.pasino.com) and the unregulated crypto payment processor FaucetPay (www.faucetpay.io). WALP Entertainment is also the issuer of the Feyorra (www.feyorra.com) crypto token, which is positioned as a payment token for the gambling industry. Pasino advertises on one of Gery Shalon's websites.
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German BaFin warns against HandelXP broker scam
Today the German regulator BaFin announced an investigation against the broker scam HandelXP (www.handelxp.de) and its operator. On the website, we did not find any information about the legal entity behind the scam and, of course, no information about persons. The scam is available in English and German and is apparently operated through boiler rooms in Belgrade. Deposits of victims are processed via the website Special Gift Cards (www.specialgiftcards.co.uk) and Trustly.
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Urgent warning against CoinsTrades facilitated by BridgerPay!
During the next law enforcement action day in Cyprus, agents should also visit the offices of the Israeli-Cypriot payment processor BridgerPay in Limassol. This would be a very efficient way to follow the trail of money stolen by scammers. For very many of the big scams, BridgerPay processed the payments through its cashier. So also for CoinsTrades (www.coinstrades.com) against which FinTelegram has warned several times. Today, the German BaFin announced investigations.
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Alert! TIOMarkets facilitated by Praxis Cashier and FCA-regulated Monsas attacks consumers!
The Spanish regulator CNMV today issued a warning against broker scam TIOMarkets (www.tiomarkets.com). TIO Markets Ltd, registered in St. Vincent & The Grenadines, is allegedly running the scam. Potential victims are chased via the fake site of DonauCapital Wertpapier GmbH (www.donaucapital.es) pretends to be a German investment company regulated by the CNMV. After registration, victims receive a welcome email from TIOMarkets and are redirected to their website.
Cybercrime Court Cases
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R4I – SmartApe, the Russian-Israeli hosting company for cybercriminals!
Many evil people hate FinTelegram. For a good reason. These people are cybercrime activists who steal money from consumers through illegal websites and get rich doing it. Many of these bad people are Israelis who use the considerable potential of their highly-gifted FinTech pundits to steal money in the cyberfinance space. FinTelegram writes about these people. We are hated and slandered for this, for example, by people around Gery Shalon, Gal Barak, or Vladislav Smirnov, who run defamatory websites via the hoster SmartApe.
Regulatory Updates
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Investor warning against Onyx Trade Group and Lencher ExPro!
The UK FCA has issued an investor alert stating that Onyx Trade Group (www.onyxtradegroup.uk) is not authorized to offer financial services in the United Kingdom. The online broker is allegedly operated by Lencher ExPro LLC, registered in St. Vincent & The Grenadines. This offshore entity also operated the Novo Trade (www.novo-trade.de) scam against which the German BaFin warned. Today, Onyx Trade Group's website was only partially functional. However, it is possible that the scammers will reboot with a new domain soon.
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Investor warning! Do not fall for PandaTS white-label scam 7XFX!
The exploding cryptocurrencies are constantly creating new scams that focus on the greed of consumers who still want to get in. Alongside this, every day, we find ever-growing warnings from financial market regulators against funds recovery schemes. And more and more law enforcement actions against scammers. That's the good news. Today the UK FCA issued a warning against the 7XFX broker scam. A white label scam of the Israeli PandaTS. Please shut them down!
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Attention! UK regulator warns against Funds Back fund recovery scheme!
It may be dull, like the flight crew safety briefing. You've seen it a hundred times and don't think you'll use it again. The truth, however, is that safety briefings and warnings can't be done often enough. Fund recovery schemes, in particular, are the meanest scam done often performed by scammers or former scammers. Today, the UK FCA warned against the Israeli Funds Back. It was the fourth warning against a fund recovery scheme over the last few days!
Support Scam Victims
Join the fight against cybercrime!
European Funds Recovery Initiative (EFRI) is a non-government organization with the mission to support scam and cybercrime victims.
