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Tag: Banxa

Two Casino Groups, Identical “Buy Crypto” Rails and a Potential Shared Control Layer

Illegal gambling Reg Techer -
FinTelegram reviewed CryptoCasino.com and CoinKings.io, two “no-KYC” crypto casinos that appear operationally identical to MegaDice—including the same fiat-to-crypto deposit pattern via Changelly → Banxa and MoonPay. While casino aggregators often attribute these brands to MIBS N.V. (Curaçao), disclosures on the casinos’ own web properties point to Costa Rica entities.

MegaDice Rail Case: “No-KYC” Casino And a Dual On-Ramp Stack with Changelly, Banxa & MoonPay

Crypto Compliance tamir -
FinTelegram reviewed MegaDice as part of our Rail Atlas work. The Curaçao-licensed crypto casino can be accessed from multiple EU jurisdictions and the UK with email-only onboarding in our tests. MegaDice offers direct crypto deposits (no casino-side KYC observed) and an embedded “Buy Crypto / Compra Crypto” rail that routes users into Changelly and MoonPay purchase flows—where fiat processing and KYC appear to be performed by the on-ramp providers, not the casino.

MEXC Compliance Update — Red-Flag Warning

Crypto Compliance Charlene Lensburg -
MEXC is certainly one of the most notorious crypto exchanges when it comes to compliance violations. FinTelegram has already pointed this out several times. But the number of negative customer reviews is also increasing. FinTelegram has repeatedly flagged the crypto-exchange MEXC for opaque structures and unlicensed operations.

Whistleblower Request: Investigating the Red-Listed Crypto Exchange MEXC and Its Ties to Lithuanian EMI Paytend

Crypto Schemes Ben -
FinTelegram has consistently flagged the crypto exchange MEXC, placing it on the Red Compliance List due to multiple regulatory warnings and poor customer feedback. We revealed that MEXC processes its FIAT transactions for cryptocurrency purchases via MEXC Estonia OÜ, which holds a crypto license in Estonia. This Estonian entity, in turn, uses Paytend Europe UAB, d/b/a s Paytend, a Lithuanian-regulated e-money institution, to handle FIAT payments through bank transfers.

“Binance Style” Crypto Exchange MEXC Secures Another Regulatory Warning Issued by Spanish CNMV!

Crypto Schemes tamir -
FinTelegram has already issued several warnings against the crypto exchange MEXC, which is apparently operated by Asians, and has shown how this "Binance-style" crypto exchange operates globally without regulatory permission with millions of customers. Recently, the Spanish CNMV also issued a warning after the German BaFin, the Austrian FMA, the UK FCA and other regulators had already issued warnings. FinTelegram has placed MEXC on the Red Compliance List.

Caution Urged: Another Regulatory Warnings Against Crypto Exchange MEXC!

Crypto Schemes Charlene Lensburg -
Recent months have witnessed a concerted effort by U.S. authorities, including the Department of Justice, the FinCEN, and regulatory bodies such as the SEC and the CFTC, to clamp down on crypto exchanges flouting financial laws and regulatory norms. However, the landscape in Europe presents a contrasting scenario where exchanges like MEXC continue their operations amidst allegations of illegal activities and regulatory infractions. Recently, the Hong Kong SFC warned against MEXC.

Another Regulatory Warning Against Crypto Exchange Gate.io and ClavisChain!

Crypto Schemes Ben -
A few weeks ago, we put the crypto exchange Gate.io on our Orange Compliance List due to obvious regulatory problems, and recently, the Austrian Financial Market Authority FMA issued a warning against ClavisChain and in this context also against Gate.io. The FMA failed to provide further explanations in its investor warning. ClavisChain looks like a clone of Gate.io. We advise all traders to exercise extreme caution with ClavisChain and Gate.

Crypto Exchange MEXC: Secures Scam Level Rating On TrustPilot; Issues Crypto Debit Card With Paytend!

Crypto Schemes tamir -
FinTelegram has already issued several warnings against the crypto exchange MEXC. The points we criticized have still not been resolved. The website does not provide any information on the operators or regulations. These are essential details whose absence automatically results in a red flag. We found the Lithuanian EMI Paytend to be the payment processor for bank transfers. On Trustpilot, MEXC secured a 1.9-star rating with a poor trust level. Here is our update.

Attention: Crypto Exchange Bybit Under Regulatory Scrutiny Receives Red Compliance Rating!

Compliance tamir -
The Binance case has kept the crypto scene busy over the last few days. Binance and its founder, Changpeng Zhao (CZ), have pleaded guilty to money laundering as part of a $4.3 billion settlement with the U.S. authorities. The U.S. authorities are also investigating Bybit, which works with the same payment processors as Binance. We have added this crypto exchange to our Red Compliance list in our initial review. Here is our review.

Attention: Asian Crypto Scheme MEXC Appeals Against The Revocation Of Estonian License!

Crypto tamir -
The Estonian entity of the crypto scheme MEXC, MEXC Estonia OÜ, has appealed against the revocation of its license in court in Estonia. The appeal reinstated the license. Pending the court's decision, the license is therefore to be recognized as valid. It remains to be seen whether the court will confirm the FIU's revocation of MEXC Estonia's crypto license.

OK, That’s Binance! What About MEXC And Crypto Payment Processors?

Compliance tamir -
The crypto industry is struggling to find its place. This is currently most evident at Binance, which has just had to pay $4.3 billion to drop charges and lawsuits in the US. Binance CEO Changpeng Zhao had to resign and is to go to prison, say the prosecutors. In Europe, MEXC, a crypto exchange from Asia, is currently in the crosshairs of regulators, as are its partners such as MoonPay, Simplex, and Banxa. MEXC lost its Estonian license last week.

Attention: Crypto Exchange MEXC Downgraded To Red Compliance Status!

BaFin tamir -
The Estonian entity MEXC Estonia OÜ holds a crypto license issued by the Estonian FIU. The entity operates as a payment agent and distributor for the crypto exchange MEXC. FinTelegram recently reported the warning issued by Austrian FMA against the crypto exchange MEXC. In October 2023, the German BaFin also issued a warning. Due to the regulatory warnings and other issues, we downgraded MEXC to our Red Compliance list. Here is the update.

FinTelegram is a cyberfinance intelligence and compliance platform investigating financial crime, regulatory violations, and the rails, entities, and ecosystems that facilitate them. Combining investigative journalism, whistleblower intelligence, and forensic compliance analysis, we map risk across payments, banking, crypto, and offshore structures to support transparency, accountability, and informed action.

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