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Tag: advcash

Crypto-Exchange

March 5, 2023

Troubled U.S. Crypto Industry! ByBit Suspends US Dollar Deposits Via Bank Transfer!

Dubai-based crypto exchange Bybit has suspended United States dollar deposits via bank transfers (including SWIFT) in response to “service outages from a partner,” the company announced via a blog post and on Twitter. However, customers can continue to deposit USD via the Advcash Wallet or buy cryptocurrencies with a credit card on ByBit's One-Click Buy page. Funds can be withdrawn through wire transfers until March 10.

February 20, 2023

Update: ‘Gen-Z of Broker’ Opofinance And Its Compliance Rating!

In October 2022, we issued a warning against the offshore brokerage scheme Opofinance, operated by offshore entities in the Seychelles and St. Vincent & The Grenadines. Opofinance operates under a securities dealer license from the FSA Seychelles in most regulatory regimes worldwide without a license. In doing so, Opofinance also violates regulatory requirements and falsely claims that membership with the Financial Commission will protect investor funds. Compliance rating: Red!

February 13, 2023

Attention! Another Regulatory Warning Against FCA-Regulated Vantage Group!

Vantage Prime Group LLC d/b/a VantageMarkets (VantageMarkets.co.uk) is regulated in the UK by the FCA. In addition, the VantageMarkets scheme runs offshore entities through which it performs onboarding of clients in the EEA region, in violation of the regulatory requirements of the FCA and ESMA regulators. The Italian Consob has ordered the black-out of the VantageMarkets offshore broker website (VantageMarkets.com). It is not the first regulatory warning. Be very careful when dealing with this broker scheme.

February 1, 2023

Urgent Warning Against Bet Swagger And Cyprus Payment Processor Pulsion Processing!

It is currently common for online casino, sports betting and gambling operators equipped with an e-gaming license in Curacao to have a payment subsidiary in Cyprus. This also has the advantage of having a location in the EU. The operator of Bet Swagger, Usoftgaming N.V., has also chosen this structure and processes the payments of its customers via the Cyprus-registered Pulsion Processing Ltd. We have heard massive complaints from several customers of this scheme. Therefore, we issue a warning.

Offshore Broker

February 1, 2023

Investor Warning Against Offshore Broker Capital Street FX!

Capital Street FX is an offshore broker allegedly operated by Capital Street Intermarkets Limited in Mauritius. The company is registered with the FSC Mauritius as an Investment Dealer. Technology and payment services are provided through UK-registered Minus Zero Technologies Limited. It is an Indian broker scheme also believed to have an office in Dubai. Capital Street FX does not have authorization for North America, Australia, or EEA. Here is our initial review.

February 1, 2023

Introducing Offshore CySEC-Regulated Errante And Its Offshore Activities!

Errante is the trading name of the investment company Notely Trading Ltd, which CySEC regulates with license number 383/20. Errante also operates two offshore mutations via Errante Trading LLC, St. Vincent & The Grenadines, and Errante Securities (Seychelles) Ltd, regulated by the FSA Seychelles. For unknown reasons, the Seychelles mutation switched the domain Errante.com to Errante-Global.com in December 2022. Here is our initial review.

January 30, 2023

Warning Against Russian PocketOption and PO Trader Broker Schemes Disguised As Ice Cream Seller!

In December 2022, we brought our initial report on the offshore broker PocketOption, allegedly operated by the offshore entity Gembell Limited in the Marshall Islands. PocketOption is connected to PO Trade, operated by PO Trade Ltd. The Russian Evgenii Kalashnikov controls the schemes. According to the latest Similarweb statistics, PockeOption acquired almost 18% of its clients in the U.S. Deposits are possible with credit/debit cards, Jeton, Perfect Money, Webmoney, Advcash, or via crypto. Stay far away and protect your financial health.

January 24, 2023

Interesting: The Explosive Growth Of Offshore Broker RoboForex!

RoboMarkets Ltd is a CySEC-regulated broker d/b/a RoboMarkets. RoboForex is the scheme's offshore broker operated by RoboForex Ltd, Belize, regulated by FSC Belize. The offshore broker solicits clients in EEA regions and offers leverage of up to 1:1000. According to Similarweb statistics, more than 2.8 million people visit the website in the last 28 days, with the majority coming from Mexico, Brazil, and Russia. Here is our update. RoboForex recorded explosive growth over the last months.

January 4, 2023

Investor Attention: Offshore Broker FreshForex Facilitated By Mercuryo et al.!

FreshForex is not a small or new offshore broker. With more than 330,000 visitors in December 2022 on its various websites, the forex and CFD broker founded in 2012 belongs to the top league. The operator is reportedly the St. Vincent & The Grenadines registered entity Riston Capital Ltd. Most visitors to the website in the last three months came from Bangladesh, France and Russia. FreshForex has a special focus on clients from Russia for several dedicated Russian language websites have been set up.

December 27, 2022

Investor Warning Against Offshore Broker Schemes PocketOption And PO Trade!

The offshore broker PocketOption is allegedly operated by the offshore entity Gembell Limited in the Marshall Islands. We found that PocketOption is connected to PO Trade and controlled by the Russian Evgenii Kalashnikov. Both offshore schemes supposedly do not accept clients from the U.S. or EEA, however, it was no problem to register as a resident of these regulatory regimes. Deposits are possible with credit/debit cards, Jeton, Perfect Money, Webmoney, Advcash, or via crypto. Stay far away and protect your financial health.

High-risk payment processors

December 20, 2022

Advcash Launched Crypto Friendly IBAN-SEPA And ADV2 Wallet Via Canadian Entity!

Similarweb classifies the high-risk payment processor Advcash as a Russian scheme, which corresponds to our information. The the beneficial owners of the offshore payment processor registered in Belize are not disclosed. However, whistleblowers have informed us that they are Russians. The beneficial owners of Advcash are known to Mercuryo, a payment infrastructure provider that has implemented a crypto-friendly IBAN/SEPA solution for Advcash. Additinally, the ADV2 Wallet was launched via the Canadian Payean Finance Inc.

November 18, 2022

Update: Russian High-Risk Payment Processor AdvCash And Its Mercuryo Connection!

Advcash is a notorious high-risk payment processor operated through Belize-registered and licensed Advanced Cash Limited. According to the information we have, is controlled by Russians and is operated through Gibraltar. Between Aug to Oct 2022, more than 4.3 million people visited the website, of which almost 22% were from Russia. Advcash works closely with crypto payment processor Mercuryo, also controlled by Russians. That's where nearly 60% of Advcash's outgoing links go. Here's an update.