The FinTelegram News team always tries to update its database with new or newly discovered individuals and legal entities. A strategic focus is placed on payment processors in this context. Recently we discovered the offshore payment processor GumBallPay facilitating the BitOptionFX broker scam. We would like to learn more about GumBallPay, its beneficial owners, and the network.
In a first quick OSINT analysis, we have already established that
- no names of individuals and/or no social media accounts are connected with the offshore payment processor;
- GumBallPay processes payment of broker scams like BitOptionFX (see FinTelegram report here) and has been able to confirm this with a test transaction;
- the payment processor has Israeli roots. The graphic design of the website was made by the Israeli agency Tomer Art (www.tomerart.co.il) of Tomer Yizraeli. As the website is in Hebrew and addresses potential Hebrew clients only we conclude that GumBallPay is beneficially owned by Israeli FinTech guys. By the way, we think the design is really well done;
- the payment platform GumBallPay (www.gumballpay.com) is operated by Pulaski Publicity Ltd, registered on the St. Vincent & the Grenadines. On another website (www.pulaski.website), this company bills itself as a marketing and SEO company;
- the company is registered with notorious company builders Wilfred Services Ltd in SVG where dozens of scam operators are registered.
- GumBallPay has focused on the high-risk segments gaming, forex, and esports, says the website, and therefore high-risk merchant accounts are offered. In the case of BitOptionFX, the offshore payment processor goes one step further and handles illegal transactions for Forex scammers.
We would like to know more about GumBallPay. Please share your experience and information about our whistleblower system with the FinTelegram Research Team.