On 12 March 2021, the UK Financial Markets Authority (FCA) issued an investor warning against the RazerMarkets broker scam (www.razermarkets.com), allegedly operated by RazerMarkets Ltd. This company is registered in the Marshall Islands. It is a PandaTS white-label scam. As a payment processor have once again discovered BridgerPay. Behind BridgerPay Cashier, we have also discovered the Estonian crypto payment processor CryptoPayIn, operated by Navasu OÜ. Until recently, Plus Exchange was also integrated as a cryptoprocessor. The scam is still active and attacks investors in Europe.
Some victims of the RazerMarket scam have reported to us that it is still active. In our review today, we have seen this confirmed. We have also seen that the payment processors of the scam are still active as well. On TrustPilot, the RazerMarkets scam now has many scam reviews resulting in a 1-9 star rating with a “Poor” trust level.
It is quite startling that a payment processor and VISA partner like BridgerPay ignores investor warnings from financial regulators like the FCA and continues to facilitate the scam. Well, actually, we’re not surprised. Israeli BridgerPay founder Ran Cohen is known for fueling the growth of his Cyprus-based payment processor via scam support.
Integrated into the BridgerPay cashier, the Estonian Navasu OÜ d/b/a CryptoPayIn (www.cryptopayin.com) is also still active in the scam. This crypto payment processor has also been uncovered as a scam-facilitator in the broker scams BrokerUnity, Interactive Trade (report here), and Financial Resident scam (report here). We have compiled our information on CryptoPayIn and Navasu in this report here.