FinTelegram has pointed out several times in recent months that mercuryo (www.mercuryo.io and www.mercuryo.co), a licensed crypto exchange in Estonia, is facilitating payment processor broker scams on a large scale and laundering money stolen from customers for them. We have discovered mercury acting as a payment facilitator for scams GlareMarkets (here), CryptoDock (here), and AMarkets (here). It’s about time regulators started looking into mercury and its illegal activities.
The mercuryo crypto exchange is operated in a rather complex regulatory environment. MoneySwap OÜ, licensed in Estonia, owns the trademark. Together with MONEYMAPLE TECH LTD, this entity, registered as a Money Service Business (MBS) in Canada, operates the crypto exchange. Fiat pay-in and pay-out services are provided by MoneyTea LTD, an FCA-registered PSD agent for Cauri LTD, an FCA-registered Payment Institution.
In BaFin‘s view, the content of the websites mercuryo.io and mercuryo.co.com, as well as information and documents available to BaFin, justify the assumption that the company behind the websites is unlawfully offering banking transactions or financial services in Germany.
Our reviews have shown that mercuryo frequently cooperates with the licensed Estonian crypto exchange operator Finanic OÜ d/b/a finanic (www.finanic.io).