Ben Givon | FinTelegram News

Author: Ben Givon

October 17, 2021

Whistleblower Business – U.S. awards $40 million to two whistleblowers!

The U.S. SEC announced awards of approximately $40 million to two whistleblowers whose information and assistance contributed to the success of an SEC enforcement action. The first whistleblower, whose information caused the opening of the investigation and exposed difficult-to-detect violations, will receive an award of approximately $32 million. The second whistleblower will receive approximately $8 million for submitting important new information even though he waited several years to report to the Commission.

October 16, 2021

No Impact! CFTC penalizes Tether with $42.5M for their false USDT narrative!

Bitcoin (BTC) broke through the $60,000 mark yesterday with apparent ease despite the apparent realization that Tether has lied to the market about their stablecoin USDT. The U.S. CFTC issued an order simultaneously filing and settling charges against the Tether group of companies d/b/a Tether for making untrue or misleading statements and omissions of material fact in connection with USDT. Some experts believe that this bull leg could take BTC to $100,000 by the end of the year.

October 16, 2021

Attention! CySEC-regulated Phoenix Markets deploys fraud campaign to chase German clients!

Today, the Crypto VIP Club fraud marketing campaign is active on the BigOffersForYou website attacking German-speaking consumers. Our early morning review discovered that the CySEC-regulated broker Phoenix Markets (www.phoenixmarkets.com) used the fraud campaign to chase new clients with non-compliant onboarding procedures. Phoenix Markets is an approved brand and domain of WGM Services Ltd regulated by CySEC under license number 203/13. Stay far away from Phoenix Markets and the Crypto VIP Club.

October 15, 2021

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.

October 15, 2021

Sorry, too late! German BaFin investigates ROIMAX broker scam

The German regulator BaFin announced today an investment of ROIMAX broker scam (www.roimax.io). The operator is said to be the offshore entity ATRIUM Ventures Ltd, registered in the Commonwealth of Dominica. In May 2020, the UK Financial Conduct Authority (FCA) issued an investor warning against the scam that attacks customers in English and German. The scam has already been in retreat for several weeks; registrations and deposits are no longer possible for potential victims.

October 15, 2021

Update on Europol law enforcement actions in Cyprus, Bulgaria, and Ukraine

On 6 October 2021, extensive law enforcement actions were coordinated by Europol and Eurojust in Cyprus, Bulgaria, and Ukraine. Please read our report here. These actions took place on the initiative of German prosecutors in Goettingen, Braunschweig, and Rostock and concerned the so-called "FX Leader Case." FX Leader was one of the alleged up to 170 scam brands operated by a cybercrime organization. During the action, a suspected high-ranking member was arrested in Limassol. Police seized numerous websites and domains.

October 15, 2021

Investor warning against Finexo Markets and Finexo

German regulator BaFin has announced an investigation into the Finexo Markets (www.finexomarkets.com) broker scam. The boiler room agents behind the scam claim to have a branch office in Frankfurt. Until a few months ago, the operator listed was Finexo Holdings Ltd, registered in the UK. The scam attacks victims in English, Italian, Spanish, German, and Russian. The Finexo (www.finexo.io) scam is also still active and attacks European consumers. Don't fall for these fraud s

October 14, 2021

Attention! FCA warns against the Scams Recovery scheme!

Just recently, we reported about the sad and brutal fund recovery business and the warnings against LegalFCA. Scam victims are desperate and therefore vulnerable to any offer of help, no matter how dubious. However, much more often than you think, the so-called fund recovery experts are just the end of a rip-off chain. Today, the UK Financial Conduct Authority (FCA) has issued a warning against the Scams Recovery scheme (www.scamsrecovery.com and www.scams-recovery.com). Stay far away.

October 14, 2021

No more licenses! The end of Estonia’s weird crypto laundering strategy?

In June 2021, Matis Maeker resumed his post as the head of Estonia’s Financial Intelligence Unit (FIU). The agency is the regulator for the thousands of crypto licenses that have been issued over the last couple of years. t agency believes Estonia should scrap its current crypto regulations and start again, he said in an interview with the local news outlet Eesti Ekspress. In total, the FIU issued more than 3,000 licenses (report here). In 2020, some 1,800 licenses have been revoked. Currently, around 400 crypto licenses are still active, which is more than all other EU member states issued.

October 13, 2021

Bravo! German BaFin warns against OIL PROFIT fraud campaign

FinTelegram has warned against the OIL PROFIT campaign several times. The German BaFin follows and issued a warning against the German mutation (www.öl-profit.de and www.oil-profit.de) of the fraudulent marketing campaign. Such campaigns are used to promote illegal broker activities and scams. Usually, victims who register with these fraudulent campaigns are redirected to the payment page of the respective scams and illegal brokers. Additionally, the victims' data is stolen and misused.

October 13, 2021

German BaFin warns against fraud marketing campaign Bitcoin Buyer

BaFin follows FinTelegram's recommendations and issued a warning against the fraudulent Bitcoin Buyer marketing campaign (www.bitcoin-buyer.de). Such campaigns are used against the background of the ongoing crypto hype with and without Elon Musk to promote illegal broker activities and scams. Usually, victims who register with these fraudulent campaigns are redirected to the payment page of the respective scams and illegal brokers. Additionally, the victims' data is stolen and misused.

October 13, 2021

Attention! Do not fall for the fund recovery scheme LegalFCA

Fund recovery is a sad and brutal business. Sad because it involves people who have lost their money on the Internet to scammers and are desperate. Brutal because the fund recovery people are exposed to threats and slander of scammers. Unfortunately, among the fund recovery providers, there are many greedy lawyers and even more scammers who take away a lot of money from the victims once again. LegalFCA is one of these scammers that the UK FCA and the Spanish regulator CNMV have warned against.