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December 30, 2022

Urgent Warning Against Russian Broker Scam Binarium Attacking Eastern European Consumers!

In Dec 2021, the Italian Consob ordered the blackout of Binarium's websites for Italian consumers. The boiler rooms operate with Russian phone numbers and are located in Russia, Latvia, and Ukraine. Binarium is huge. According to the latest Similarweb statistics from December 27, 2022, almost 325000 people have visited the website in the last 28 days. Mainly from Eastern European countries. Stay far away and protect your financial health.

December 29, 2022

High-Risk Payment Processor Payeer, Its Russian Clients, And An Excellent Trust Level!

We have been following the activities of the high-risk payment processor Payeer for several years now. Payeer is operated through Payeer OÜ, which holds an Estonian crypto license, and Paycorp Limited, registered in Vanuatu by the VFSC. Most recently, we discovered Payeer as a payment processor at many Russian high-risk merchants such as Express Wallet or Taxi Money. In recent months, an average of 25% of website visitors came from Russia.

December 29, 2022

Update On PrimeXBT Crypto Trading Scheme And Its Russian Connections

We recently brought the first review about PrimeXBT and explained that one of the controlling persons behind it is Dmitrij Pruglo who also runs the Malta-registered blockchain software company Covesting International Limited with Tim Voronin. Via Twitter, @braisincapital subsequently provided us with information showing that Pruglo and his partners have other companies and also own Gensaga Capital in

December 28, 2022

Exposed: Regulated Austrian Crypto Company HBDIG Technologies And Money Laundering!

It is a well-known fact that crypto is used by criminals for money laundering. Moises Fernandez Barea, a Spanish residing in Dubai, and his partner Erik Aaron Lara Riveros are involved in the crypto world. They use the FMA-registered Austrian HBDIG Technologies GmbH for their transactions. Confidential emails show how Erik Aaron Lara Riveros and Moises Fernandez prepared documents in a bid to convince banks and financial institutions to execute their transactions.

December 27, 2022

Investor Warning Against Offshore Broker Schemes PocketOption And PO Trade!

The offshore broker PocketOption is allegedly operated by the offshore entity Gembell Limited in the Marshall Islands. We found that PocketOption is connected to PO Trade and controlled by the Russian Evgenii Kalashnikov. Both offshore schemes supposedly do not accept clients from the U.S. or EEA, however, it was no problem to register as a resident of these regulatory regimes. Deposits are possible with credit/debit cards, Jeton, Perfect Money, Webmoney, Advcash, or via crypto. Stay far away and protect your financial health.

December 27, 2022

Be Cautious When Trading With Novox Capital Successor PrimeXBT!

We recently brought an update on Novox Capital Ltd, a CySEC-regulated investment firm (CIV) that was notorious for facilitating vast binary options scams. Until a few months ago, the entity was controlled by Shay Hillel and Yehoram Hillel. The company was apparently sold to Dmitrij Pruglo and renamed PXBT Trading Ltd. It applied for voluntary suspension of its CySEC license due to the acquisition. Pruglo is the CEO and shareholder behind the Malta-registered crypto company Coinvesting and one of the key players of the PrimeXBT offshore crypto trading platform.

December 26, 2022

Interesting! The Vanished Binary Options Scam Facilitator Novox Capital And Its Legacy!

More trials against binary options scam operators or their facilitators coming up in the first half of 2023. The former beneficial owners of the (then) CySEC-regulated Novox Capital Ltd are also in the spotlight: the Israelis Shay Hillel, Yehoram Hillel, and their partner and frontman Israel Bash. They are currently not charged however the prosecution alleges that their Novox Capital had been massively involved in running and facilitating vast binary options scams. Gal Barak and his cybercrime organization E&G Bulgaria were a close partner and client of Novox Capital.

December 26, 2022

The Israeli Madoff Extradited To Israel

The times of Israel reports, that American-Israeli Michael Ben-Arim a/k/a Michael Greenfeld, accused of running a $150 million Ponzi scheme over 15 years, was extradited from Bosnia early Sunday to undergo trial, over what is believed to be the worst such scam ever carried out in the Jewish state, police and the Israel Securities Authority (ISA) said. He allegedly defrauded about a thousand investors in both countries in a 15-year scam. Hebrew media has dubbed Ben-Ari “the Israeli Madoff.”

December 25, 2022

Revealed: Venezuela Funds Laundered Through Moises Fernandez Barea And His Jade Group!

The notorious Moises Fernandez Barea, who was behind the vanished payment processor Aexon is into laundering funds out of Venezuela. The South American country is subject to international sanctions. Through his Dubai-registered company Jade Management Co which holds License number 820645, Moises Fernandez Barea opened a bank account with Emirates Islamic. Moreover, it works with the Swiss payment agent Simnati Consulting Group SA to launder illicit Venezuelan funds.

December 23, 2022

Offshore Broker LQDFX Facilitated By Confirmo And PayRedeem!

Offshore broker LQDFX has been on our radar for about two years now. The founder is the well-known fintech entrepreneur Ozan Ozerk a/k/a Ozan Özerk, who founded several regulated companies in the UK, Lithuania, and other EEA jurisdictions such as OpenPayd or EuroTrader. The UK FCA has recently issued a warning against the offshore broker LQDFX, violating the EEA regimes' regulatory requirements. The offshore broker is facilitated by the crypto payment processor Confirmo. It also accepts payment cards issued by PayRedeem.

December 22, 2022

Cyprus High-Risk Payment Processor Payabl Facilitates Offshore Broker VT Markets In Europe!

VT Markets is an Australien multi-asset broker regulated by the ASIC. Moreover, VT Markets operates offshore entities in South Africa and St. Vincent & The Grenadines. It does not have a license to offer its financial services in the EEA jurisdictions. However, almost 40% of the website visitors are from EEA countries. The Spanish CNMV issued already a warning aginst the offshore broker. A significant portion of VT Markets customers' deposits are settled through Cyprus-based Payabl via its PowerCash21 gateway. Here is an update.

December 22, 2022

U.S. Regulators & Prosecutors Charge FTX Executives Caroline Ellison And Gary Wang!

The U.S Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and the Department of Justice (DOJ) charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their roles in fraudulent FTX crypt scheme co-founded by Sam Bankman-Fried (SBF) and Wang. Ellison and Wang pleaded guilty to the criminal charges and cooperate with the authorities.