PayTechs | FinTelegram News

Category: PayTechs

December 11, 2020

Problems at OctaPay – European director fired for refusing to accept illegal practices!

Troubles at high-risk payment processor Octapay which is allegedly conntected to iPayTotal through Vishal Coodye and its Rashal International LLC. Yesterdy, Octapay announced that its European CEO Christian V. was fired on accusations of an extensive list of serious malicious activities. We would like to learn more about Octapay and its activities.

PayTechs
R4I

December 8, 2020

R4I – Let us know more about the High-Risk Payment Processor Octapay and iPayTotal

Octapay Limited was founded on 16 September 2020. According to UK Companies House, the sole director and beneficial owner is Madhumita Singh. The company acts as a payment processor for high-risk merchants in gaming, crypto and forex operating the websites www.octapay.fund. And it seems to be related to iPayTotal.

November 13, 2020

Investor Warning – JP Finance with BridgerPay and Coder54

The JP Finance broker scam has already been active for several months. It is currently operated with the domain www.jp.finance by Jean Pierre Technologies Ltd, which is allegedly registered in the Marshall Islands. As facilitating payment processors, we have identified the unregulated Cypriot payment processor BridgerPay from Ran Cohen and Voucher payment service Code54.

November 5, 2020

Praxis Cashier announced the acquisition of IC Markets as forex client

The unregulated Cyprus-registered Praxis Cashier System Ltd (Praxis Cashier) of Amit Klachko announced the acquisition of IC Markets (www.icmarkets.com) as a new Forex and CFD client. IC Markets is a globally operating regulated broker scheme established by Andrew Budzinski in Australia in 2007. Its different entities are regulated by Australian ASIC, Cyprus CySEC, and FSA Seychelles.

October 12, 2020

The PayTech Papers – Regulatory Challenge in Fighting Cybercrime

The revised Payment Services Directive (PSD2) to regulate payment services throughout the EU and EEA came into force in January 2018 and officially kicked-off the “Open Banking Era” with FinTech unicorns TransferWise, Revolut, Monzo, or N26 leading the pack. The number of licensed PayTechs in the EEA exploded as a study published in July 2020 shows. Unfortunately, the number of unregulated and therefore unauthorized acting PayTechs specializing in scams and cybercrime also exploded.

September 18, 2020

BridgerPay – Another Israeli high-risk payment processor ind Cyprus

We have identified BridgerPay as a payment provider of some broker scams in the last few weeks and subsequently put it on the Payment Processor Blacklist. We are of the opinion that without the intentional or negligent involvement of payment processors most of the scams would not be possible in the first place. FinTelegram wants to warn consumers, investors, and the payment industry about these bad payment processors via the blacklist. BridgerPay is no longer on it.

September 12, 2020

German BaFin’s first September warning – TradInvestor broker scam and BridgerPay

On September 11, 2020, the German regulator BaFin issued the first investor warning on the international side this month. Either Germany is free of scammers or BaFin is still shocked by the Wirecard scandal. Either way. BaFin warns against the broker scam TradInvestor, which is allegedly operated by Ez Education. This scam is connected to the TradoFX scam.

August 23, 2020

FCA warns against PumaTS scam RoyalStox!

The UK regulator FCA has issued an investor warning against the scam broker RoyalStox (www.royalstox.com). This is operated by Marom Partners Limited on St. Vincent and the Grenadines. The scam is part of the Leverate and PumaTS network and connected to their Activ8 trading servers. It’s another full-blown scam from without any special features. The scam works with the payment processors Praxis Chashier and QubePay for crypto payments.

August 5, 2020

Broker scams LincolnFX, ZurixCorp, and its payment processors

The UK watchdog FCA and the Spanish regulator CNMV issued investor warnings against the scam broker LincolnFX operated by Lincolnfx.capital Ltd. It's still online on August 5, 2020. The FinTelegram Research team has received documents from some of the scam's victims and thus has taken a closer look. Consequently, facilitating payment processors like Plus Exchange or Titan Payments as well as interesting connections have been identified.

August 5, 2020

Investor Warning – FairBit broker scam and Estonian crypto payment processors

The UK regulator FCA issued an investor warning against the Forex broker Scam FairBit (www.fairbit.com) on August 4, 2020. The scam is officially operated by Gama Solutions Ltd., registered in St. Vincent and the Grenadines. The scam lures with a super great Fair-Bit Trade engine that would generate large profits for the investors (victims). Besides the usual credit and debit cards, crypto payments are possible, which are processed via the Estonian crypto-payment processor Bitxtech.

July 27, 2020

Investor Alert – Payment Processor Mister Tango aka Secure Nordic Payments

In the last few weeks, we have noticed, based on reports of scam victims and whistleblowers, that more and more payments of scams and investment schemes are processed via MisterTango. The "MisterTango" brand is operated by Secure Nordic Payments UAB, regulated by the Bank of Lithuania. The company was fined by the Lithuanian regulator in October 2019 for non-compliance with money laundering (AML) regulations.

July 27, 2020

Request 4 Information – Israeli-Estonian Payment Processor Pradexx

Some of the PumaTS broker scams are facilitated by the Israeli-Estonian payment processor Pradexx OÜ. This company is the legal entity operating the FIAT payment platform Pradexx (www.pradexx.com) and the crypto payment platform NextPayWay (www.nextpayway.com). According to the information provided on its website, NextPayPay has managed to acquire "over 380,000 people across 123 countries since 2018." Impressive, isn't it? We would like to learn more.

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.