Executive Summary
Recent findings by the Organized Crime and Corruption Reporting Project (OCCRP) have revealed that Blue Whale Tech Inc.—operating under the brand Cratos (Cratos.net)—has played a pivotal role as a crypto payment processor and money laundering facilitator for a Georgian cybercrime organization linked to the A.K. Group. This report outlines the illicit financial activities conducted through Cratos and calls for further insider information regarding its operators, partners, and operational practices.
Key Findings from OCCRP
- Illicit Transaction Volume:
Internal documents obtained by OCCRP indicate that Cratos processed nearly $350,000 in crypto payment transactions from at least 40 victims connected to the Georgian cybercrime call center operation. These transactions are part of a broader scheme involving fraudulent investment platforms managed by the cybercrime network. - Questionable Operational Practices:
Despite being a crypto exchange platform, Cratos denies any involvement with call centers or business clients, claiming its services are exclusively for individual users. However, when OCCRP reached out for clarification, Cratos responded with a statement that was quickly followed by the disabling of its email account, raising serious questions about its transparency and operational integrity. - Money Laundering via Blue Whale Tech:
Leaked bank transfer records reveal that Blue Whale Tech received over £386,000 and €206,000 from more than 20 victims across the U.K., Spain, and Ireland within a seven-month period ending in April of last year. Victims were misled into signing Cratos-branded declaration forms, which falsely confirmed that their fiat transfers would be converted to Bitcoin on the Cratos platform. One U.K.-based victim, who lost approximately £30,000 and €77,000 in total, described his ordeal as unmistakably fraudulent and reported that local authorities were unable to act due to the company’s international location.
Implications
The use of Cratos as a crypto exchange by the Georgian cybercrime organization underscores a troubling trend in the exploitation of digital financial services for money laundering and illicit fund transfers. The involvement of a FinTRAC-registered Canadian Money Services Business (MSB) operating under a seemingly legitimate front exacerbates the challenges faced by regulators and law enforcement agencies in tracing and dismantling transnational cybercrime networks.
Request for Insider Information – Information Wanted
FinTelegram is seeking further details from insiders familiar with Cratos, Blue Whale Tech Inc., and their network of operators and partners. Specific areas of interest include:
- Operational Structure:
Detailed insights into how Cratos is managed and any relationships with other financial or technological entities involved in facilitating or laundering illicit transactions. - Partnerships and Affiliations:
Information on any undisclosed partnerships or contractual relationships with marketing firms, payment processors, or shell companies that may be aiding the Georgian cybercrime organization. - Internal Practices:
Any evidence or documentation that could clarify the internal processes, client onboarding methods, or anti-money laundering (AML) measures employed—or conspicuously absent—in the operation of Cratos.
If you have any relevant details or documentation that can help shed light on these practices, please come forward with your information.
Your cooperation is vital. If you have any information, please reach out through our secure channels using the subject “Information Wanted.”
