CNMV | FinTelegram News

Category: CNMV

March 6, 2021

The Insta Trading scam facilitated by BridgerPay and Zichain

Spanish CNMV has issued an investor warning against the Insta Trading scam allegedly operated by the Bulgarian Alcatel Group Ltd and/or Protiviti Group Ltd and/or Protiviti International EOOD are also involved as operators. These are fake companies. As payment processors, we have once again identified BridgerPay Cashier and, behind it, the crypto exchange Zichain OÜ and its Rashbe crypto service.

March 2, 2021

Investor Warning against Universal Markets broker scam

When analyzing the scams against which the UK Financial Conduct Authority (FCA) issued an investor warning yesterday, St. Vincent and the Grenadines had a dominant role as the given address of the scam operating entities. This is also the case with Universal Markets (www.umarkets.io, www.umarketspro.com, or www.umarketspro.net). The scam is allegedly operated by Universal Services LLC, register number 193LLC2019, and/or UM Media LLC, register number 240LLC2020. Surprise! Both companies are registered in Kingstown, St. Vincent and the Grenadines.

March 2, 2021

Another warning against Max Capital scam FinMax and its mutations

Regulators have warned against the FinMax scams already. In Jan 2019, the German BaFin warned against the mutation FinMaxBO and issued a Cease-and-Desist Order today. In Oc 2020, the Spanish CNMV warned against the mutation FinmaxFX. The scams are operated by Max Capital Limited, Vanuatu, and Gatelinas UAB, Lithuania. Although Max Capital is licensed by the VFSC, it's not authorized to scam anybody. As scam-facilitation payment processors, we have uncovered Webmoney, VLoad, advcash, and Aveia.

February 23, 2021

Investor warning against WAM Capital broker scam with BridgerPay and VivaWallet

CNVM issued an investor warning against the broker scam WAM Capital (www.wam-capital.co) allegedly operated by WAM-Capital Limited in New South Wales, Australia, and Gabioni Ltd. According to the website, the scam would be regulated by the Australian ASIC as a CFD provider. In fact, WAM Capital is acting as a fake of the public-listed Australian asset management firm Wilson Asset Management (WAM). The payment processor we discovered is Ran Cohen's BridgerPay and VivaWallet.

February 23, 2021

Spanish Watchdog CNMV warns against Russian crypto scam Deal Trade

The crypto hype is the new playground for scammers. This week, the Spanish regulator CNMV issued an investor warning against the Deal Trade scam (www.dealtrade.io) operated by the UK-registered Deal Trade Inc Ltd. As payment processors, we have identified Perfect Money and Payeer. However, the scam merchant is currently disabled on the latter. Investors should not get too greedy and lose their common sense.

October 27, 2020

Spanish CNMV warns against BitOptionFX and Tradingon broker scams

The Spanish regulator CNMV issued a warning on 26 October 2020 against a number of unauthorized financial services providers. These include BitOptionFX (www.bitoptionfx.com) and Tradingon (www.tradingon.io) operated by Netbit Services and Solutions OÜ.

October 8, 2020

CMNV Warnings against scam Broker LMFX and FinmaxFX

The Spanish regulator CNMV issued several investor warnings against several scam brokers earlier this week. These include LMFX operated by Global Trade Partners Ltd, Macedonia,..

October 7, 2020

Law Enforcement request for information for HybridReserve broker scam

FinTelegram was asked by an EU law enforcement agency to ask for information about the broker scam HybridReserve. The authorities have received several fraud complaints from retail investors. Already in February 2019 the Belgian regulator Financial Services and Markets Authority (FSMA) and other regulators issued an investor warning against HybridReserve, which is operated by Singlebell Ltd in St. Vincent and the Grenadines and Singlebell OÜ from Estonia.

October 1, 2020

Spanish Watchdog CNMV warns against Swissgems and MarketsCFD

A few days ago, the Austrian Financial Market Authority FMA issued an investor warning against the broker scam StarkMarkets, which is operated by the entities Krisimark Ltd and SWISSGEM Ltd. This week, the Spanish regulator CNMV issued a warning against SWISSGEM and the broker scam MarketsCFD which it operates. In May 20120 the Italian CONSOB has already blocked MarketsCFD (www.marketscfd.net).

September 22, 2020

Another warning against PumaTS white-label scam BlueSave

After the UK FCA had already warned against the PumaTS white-label broker Scam BlueSave in July 2020, the Spanish regulator CNMV also issued an investor warning. The scam is operated under the domain www.bluesave.io via the Buen Solutions Ltd, a company registered in St. Vincent and the Grenadines. The scam is still active as we have checked but the payment processors have changed.

September 22, 2020

Spanish Watchdog CNMV warns against GlobalspotFX and Trade Com

The Spanish regulator CNMV has issued an investor warning against the scam broker GlobalspotFX (www.globalspotfx.com). The scam is allegedly operated by Trade Com Limited for an office in London. As a payment provider we have found the Russian PayeCards (www.payecards.com). Already in July 2020, the Italian regulator CONSOB had issued a warning against the scam.

August 27, 2020

EU License Passporting – Spanish CNMV allegedly plans actions to stop malicious practices

According to a report by Gerald Segal of FX News Group (FNG), the Spanish regulator CNMV is planning tough measures against regulated brokers to protect Spanish customers. Specifically, these are mainly CySEC regulated brokers who operate in Spain through the EU Passporting License. The CNMV measures are designed to prohibit the common illegal practices of many regulated brokers and their respective boiler rooms.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.