This guest post was written by an insider from Ruchi Rathor‘s group. In the past, we have written many times about the many high-risk payment processors around Ruchi. This is a super-tough business and certainly not for the faint-hearted. After a plausibility check of this guest post (Guest Submissions here), we decided to publish it. We can neither confirm nor falsify the content. We think that these reports are in any case valuable to learn information about backgrounds and acting persons. OctaPay, an iPayTotal spinoff supported by Ruchi Rathor, vanished a few months after its launch, and merchants lost money. If you have any comments, you can send them to us via our whistleblower system, a comment, or a guest post.
In 2020, when high-risk payment processor OctaPay was formed, they took payment solutions from OpenNode via Afnan Rehman. OpenNode, at that time, was a platform where users could purchase Bitcoins (BTC) and pay via their credit cards. Their credit card solution was provided to them via Wyre. It was a chain of facilitation. We have proof that OpenNode seized $150,000 owed to its client, OctaPay. Many other OpenNode clients have also not received their payments.
In principle, there are always ways to deal with difficult matters in the high-risk industry. OpenNode was supposed to send a notice to its clients like OctaPay about the chargebacks, suspicious transactions, and so on, but not only did they not inform them and other clients about this, but they went on to shut down the MID and decided not to communicate anything any further.
It’s understandable for the banks to hold money, but they always provide reasons as to why a solution was shut down, or the money was not released.
After several attempts to establish contact with Afnan Rehman, there was no communication. We are sure from our sources and the proof we have that he not only knew what would happen but he is also involved in the grand scheme of ransacking the merchants and the clients. We are also sure that if someone contacts Afnan regarding this, his natural response would be that he was not involved, but we are sure that he will admit that he knew the entire plan all along the way.
If you have any information about OctaPay, its operators, and its facilitators, please let us know through our whistleblower system, Whistle42.