Notorious Deutsche Handelsbank did it again. It facilitated the HashTrade (www.hashtrade.pro) broker scam, officially confirmed as a scam on Reddit. But, unfortunately, victims are still falling for the scam. Allegedly, the scam is operated by Xertz Consulting Ltd, registered in the Commonwealth of Dominica. This offshore entity is also associated with other scams such as Hackford or Paragon Finance. Victims have sent us payment documents showing that they made payments to the scam via PGSellers Ltd and their bank account at Deutsche Handelsbank.
Officially, PGSellers apparently sells Education Packages to the victims of scams. This is the typical pattern for illegal payment processors and money laundering. We have already discovered both PGSellers as illegal payment pr IGM Holdings, HQ Trade, and FinoCapital (read report here). PGSellers is a registered merchant with several payment services providers and is owned by the British Paul Solinsky (Companies House).
In the ongoing Covid-19 pandemic, scammers find a perfect environment for their scam operations. Home office and social distancing make victims much more vulnerable to all kinds of cybercrime. Please be super-cautious and stay far away from any financial offers from platforms they don’t know and/or operated through offshore entities.