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Tag: BBanc

March 20, 2025

Financial Intelligence Report: The Disappearance of Magua Pay, the High-Risk Payment Network of Moriel Carmi, and Regulatory Scrutiny

The recent disappearance of Magua Pay Inc. and its associated brand Black Rabbit raises serious concerns regarding the financial network behind high-risk payment processing, unauthorized financial services, and fraud facilitation. Magua Pay has long been identified as a facilitator of illegal gambling and broker scams

March 17, 2025

Financial Intelligence Report: The Disappearance of Magua Pay and Black Rabbit – A High-Risk Payment Processor in the Scam Broker Ecosystem

Magua Pay Inc., a Vancouver-based money services business (MSB license M21111044) operating under the brand Black Rabbit, has vanished from the digital landscape as of March 2025. Both its primary website (magua_pay.com) and Black Rabbit’s site are either under construction or offline, signaling potential operational collapse or regulatory pressure. FinTelegram exposed Magua Pay as a payment facilitator of broker scams and unauthorized broker schemes,

February 6, 2023

Another Urgent Warning Against Offshore Brokers SpotInvest And BBanc!

FinTelegram has warned several times against the offshore broker scams SpotInvest and BBanc. However, they are still chasing victims. In the past, both scams were operated through Primis LLC, which is registered in St. Vincent & The Grenadines. Various financial market regulators and FinTelegram issue some warnings. Since then, the websites of SpotInvest and BBanc stated the fake companies SpotInvest Inc. and BBanc Inc., respectively, as the operators. Stay far away and do not lose money; protect your financial health.

November 24, 2022

Attention! Another Regulatory Warning Against SpotInvest Broker Scam!

A while ago, Spanish regulator CNMV warned against the broker scam BBanc, allegedly operated by St. Vincent & The Grenadines registered Primis LLC (report here). On 8 Sept 2022, the UK FCA warned against this offshore broker, as did the French AMF and the Canadian FCNB. Primis LLC was also the operator of the vanished FX Changer scam. The UK FCA warned against SpotInvest, another scam operated by Primis LLC. SpotInvest acts as a clone of FCA-regulated Spot Finance Limited.

October 20, 2022

Urgent Warning Against Offshore Entity Primis And Its Broker Scam SpotInvest!

A month ago, the Spanish regulator CNMV warned against the broker scam BBanc, allegedly operated by St. Vincent & The Grenadines registered Primis LLC (report here). On 8 Sept 2022, the UK FCA also warned against this offshore broker, as did the French AMF and the Canadian FCNB. Primis LLC was also the operator of the vanished FX Changer scam. This week the CNMV warned against Primis and its broker scam SpotInvest.

September 11, 2022

Whistleblower Request – Lithuanian Crypto Payment Processors Mirhax And Conivix!

Lithuanian crypto payment processor Mirhax recently came to our attention as a payment facilitator at the BBanc broker scam (report here). The potential BBanc victims were offered on the scam's payment page to buy cryptos via credit or debit card using Mirhax. These are then transferred to the BBanc scammers' wallets. The BBanc victims are directed to the Mirhax payment page via a referral link. It does not seem to be a deep integration. We would like to know more about Mirhax and the related Conivix scheme.

August 4, 2022

Investor Warning Against BBanc And FX Changer Broker Scams!

the Spanish regulator CNMV warned against the broker scam BBanc, allegedly operated by St. Vincent & The Grenadines registered Primis LLC. This offshore entity is registered as a broker with the Mwali International Services Authority on the Island of Moheli. Primis LLC is also the operator of the FX Changer broker scam. In our BBanc review, we have discovered Coini-Changer as a payment processor. There, potential victims buy cryptos with credit cards which are then transferred to the scams. Stay very far away.

Financial Intelligence Report: Lykke Exchange Collapse

Swiss crypto exchange Lykke has collapsed following a major security breach in June 2024, resulting in the loss of approximately $22 million in customer funds. The incident led to the suspension of trading activities, bankruptcy proceedings, and significant financial losses for investors. This report analyzes the events leading to Lykke's downfall, the impact on stakeholders, and the ongoing legal actions.

Hunting Down: Background on The Arrest of Garantex Co-Founder Aleksej Bešciokov in India!

On March 13, 2025, Indian authorities arrested Aleksej Bešciokov, a Lithuanian national and alleged co-founder of the sanctioned Russian cryptocurrency exchange Garantex, in Kovalam, Kerala. The arrest followed an international law enforcement action Bešciokov now awaits extradition to Lithuania on charges of money laundering, sanctions evasion, and facilitating ransomware transactions.

Call to Whistleblowers: What Is the World Economic Council (WEC) Really Up To?

The financial world in Europe is still reeling from the collapse of Rene Benko’s Signa Group, one of the largest and most scandalous bankruptcies in European history. Amid the rubble, a curious pattern has emerged: leading figures from the World Economic Council (WEC) — including Robert Schimanko, Thomas Limberger, and their legal advisor and business partner William H. Shawn — have quietly moved into strategic leadership positions within foundations linked to Benko.

Kraken’s $1.5 Billion NinjaTrader Acquisition Signals Bold Expansion Ahead of 2026 IPO

Kraken has acquired NinjaTrader in a $1.5 billion deal, marking a strategic leap toward uniting traditional finance with the crypto ecosystem. The move not only diversifies Kraken’s offerings but also sets the stage for its anticipated public listing in 2026. The timing aligns with renewed optimism in the crypto sector, driven by expectations of more favorable regulatory conditions under U.S. President Trump.

FinTelegram

Profile & Regulatory Analysis: Russian-Israeli Crypto Banker Moriel Carmi (formerly Mark Weinstein) and the Case for FCA Scrutiny

This report presents a comprehensive and objective profile of Moriel Carmi, a Russian-born Israeli financier previously known as Mark Mikhailovich Weinstein, who has emerged at the center of a growing network of high-risk payment processors and crypto service providers. Following a landmark ruling by the AIFC Court in Kazakhstan, questions now arise about Carmi’s regulatory fitness within the UK, where he operates the FCA-regulated e-money institution TomPay Ltd.