In Nov 2020, a UK court ordered iPayTotal Ltd to go into insolvency and liquidation. Many millions disappeared in the collapse of the British-Indian high-risk payment scheme. The beneficial owners were Ruchi Rathor, Anirudh Pratap Singh Rathor, and Anurag Pratap Singh. They operate several successor schemes through legal entities in India and Europe. Ruchi Rathors future son-in-law, Yuvraj Singh, is the mastermind behind OpenUp, Kryptova, and BitMatix. Merchants should avoid these payment schemes.
|Related schemes||CryptoMatix, Payomatix,|
Kryptova, PayStudio, iPayTotal
|Business activities||High-risk payment processor|
|Legal entities||BitMatix IO Pvt Limited (prev. iPayTotal Pvt Ltd), India|
BitMatix IO Ltd, UK
|Related individuals||Ruchi Rathor (India)|
Yuvraj Singh (India)
Anurag Pratap Singh (India)
Anirudh Pratap Singh Rathor (India)
Chhavi Mishra (India)
BitMatix is just one of the iPayTotal successor schemes. There is also CryptoMatix, PayoMatix, Kryptova, OpenUp, and PayStudio. According to our information, Yuvraj Singh, the future son-in-law of Ruchi Rathor, is the co-mastermind behind these new schemes.
BitMatix is operated through UK-registered Bitmatix IO Ltd and India-registered Bitmatix IO Pvt Limited (formerly iPayTotal Pvt Ltd). Yuvraj Singh, an Indian, is installed as the director and owner of the UK entity. The directors of the Indian company are Ruchi Rathi and Anurag Pratap Singh. The latter is being sought by the liquidators of iPayTotal Ltd to answer open questions surrounding the missing funds and assets.
As reported by FinTelegram, there are no funds in iPayTotal Ltd but at least GBP 1.1 million of claims from creditors.
If you have any information about BitMatix, CryptoMatix, Payomatix, Kryptova, or any other payment scheme, please share it with us via our whistleblower system, Whistle42.