Tag: BitandBuy

Lessons from BitMEX Case for EuropeL
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October 11, 2020

Lessons from BitMEX Case – Arrests, warrants, and bribing regulators with coconuts

The U.S. Prosecutors charge the BitMex founders Arthur Hayes, Benjamin Delo, Samuel Reed along with the senior manager Gregory Dwyer with (a) violating the Bank Secrecy Act and (b) conspiring to violate the Bank Secrecy Act, by willfully failing to establish, implement, and maintain an anti-money laundering (“AML”) program at the crypto exchange or BitMEX. The charges each carry a maximum penalty of five years in prison.
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Scam warning Trade99 and ClearTransfer and vanished BTCwithcardB
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August 31, 2020

Broker scam Trade99, ClearTransfer, and another vanished crypto platform

Since we started our reports about the RoyalsFX Scam and described the background and processes, victims of other scams like LincolnFX or Trade99 have come forward. They have identified similar processes and/or have been involved in several of these scams and have discovered parallels. The involvement of the CySEC-regulated Maxigrid Ltd as a payment processor and its crypto platform BitandBuy was one of these parallels. As is the disappearance of another crypto platform.
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Joshua Group scam broker networkS
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August 19, 2020

Scam broker RoyalsFX, LincolnFX, and CapitalFunds are part of the Joshua Group

In the last weeks, we have invested considerable time and resources in the Scams RoyalsFX and LincolnFX. These scams were customers of the CySEC-regulated Maxigrid Ltd of Roy Almagor and Jekaterina Pedosa and have processed payments of client-victims via crypto and FIAT. Substantial sums of the customer victims were processed via the now-closed crypto platform BitandBuy (www.bitandbuy.com and https://crypto.maxigrid.com). The platform disappeared without further comment during the probe in Maxigrid. These scams and many more are part of the scam network of the Joshua Group.
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CySEC and Scam TourismT
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August 7, 2020

The CySEC Scam Tourism – Launch of Investigative Series

CySEC is the financial supervisory authority of the Republic of Cyprus and a sort of gatekeeper for the EU financial markets. Cyprus has developed into the single most important gateway to EU financial markets for non-EU citizens and organizations. The Israeli financial scene in particular makes intensive use of this gateway. But also Russian individuals and companies enter the EU financial markets via Cyprus. The CySEC is controversial within the EU regulators because of its "relaxed" approach.
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