The UK Financial Conduct Authority (FCA) has issued an investor warning against Infinitrade (www.infinitrade.com). According to the information on the scheme’s website, the unregulated broker is operated by A&E Products Ltd, a company registered on the Marshall Islands and with a company address in Sofia, Bulgaria. One of the typical scam patterns. The unregistered and unauthorized broker offers Forex, CFD, and crypto trading.
Crypto1 – another Estonian Payment Processor
Bitcoin (BTC) is offered as an additional payment option. You can either send the BTC directly to a specified blockchain address or purchase it via the crypto-broker Crypto1 (www.crypto1.io). This exchange is operated by Finligue Grupp OÜ, a crypto-financial service provider registered in Estonia (not again), where the Latvian Anatolijs Belavskis, born August 1988) is registered as the sole director. This guy is also found in the UK Companies House as an active director and controlling person of Treastone Ltd.
This Estonian license has been issued in February 2020 and cost just a few thousand Euros. Dozens of forex and crypto scammers use this license. Our FinTelegram Research team cannot understand why the Estonian authorities are so negligent in granting and monitoring these crypto licenses.