Estonian Compliance Issue – The Estonian lawyer Igor Torsin and Eesti Firma

Eesti Firma with Igor Torsin building crypto license payment providers
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A few days ago, we asked, who is this Igor Torsin, 62, would be. A busy man for sure. We identified him as a director of nine FIU-licensed crypto payment processors in Estonia. Among these are also some that operate as scam facilitators – PayTechno or Steveyx d/b/a Venus Exchange. Evidently, he is the frontman for getting and maintaining the FIU license. Now we know that Igor Torsin is a lawyer working in Tallinn, Estonia, at Eesti Firma OÜ, a company builder specialized in crypto licenses, among other things. This has become a nice business in Tallinn; unfortunately, many scammers also use these services.

Below is the list of licensed Crypto Payment processors in which Igor Torsin is installed as a director.


FIU license


Scam involvement

Paytechno OÜyeswww.cryptopaytech.com, www.paytechno.comyes
DQC Capital OÜyeswww.dqc-capital.comnot yet
BITEEU DCX OÜyeswww.biteeu.comnot yet
Somayko OÜyeswww.xarbor.comnot yet
GreenElephant OÜyeswww.ge.exchangenot yet
Steveyx OÜyeswww.venus.exchangeyes
Venus Exchange Services OÜyeswww.btc-land.comyes
CoinCarrier OÜyesnot foundnot yet
SharkPay OÜyesnot foundnot yet

In some of these licensed companies, Torsin is registered as the only director. Among them is Steveyx (companies register), the Venus Exchange (www.venus.exchange) operator, which we have already discovered several times as a scam facilitator. We understand that Igor Tsorin is not the operational director running the business. Others do that. With that, he probably has no idea that in “his” companies, scams are also supported intentionally or because of compliance errors. Mr. Torsin is most likely is an honest guy working his ass off in Eesti Firma (www.estifirma.ee). However, as a director, he is responsible for his companies’ activities to the relevant authorities and the victims.

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