BridgerPay | FinTelegram News

Tag: BridgerPay

October 16, 2021

Attention! CySEC-regulated Phoenix Markets deploys fraud campaign to chase German clients!

Today, the Crypto VIP Club fraud marketing campaign is active on the BigOffersForYou website attacking German-speaking consumers. Our early morning review discovered that the CySEC-regulated broker Phoenix Markets (www.phoenixmarkets.com) used the fraud campaign to chase new clients with non-compliant onboarding procedures. Phoenix Markets is an approved brand and domain of WGM Services Ltd regulated by CySEC under license number 203/13. Stay far away from Phoenix Markets and the Crypto VIP Club.

October 15, 2021

Urgent warning against CoinsTrades facilitated by BridgerPay!

During the next law enforcement action day in Cyprus, agents should also visit the offices of the Israeli-Cypriot payment processor BridgerPay in Limassol. This would be a very efficient way to follow the trail of money stolen by scammers. For very many of the big scams, BridgerPay processed the payments through its cashier. So also for CoinsTrades (www.coinstrades.com) against which FinTelegram has warned several times. Today, the German BaFin announced investigations.

October 10, 2021

Urgent warning! GS4Trade broker powered by BridgerPay is still chasing victims!

In July 2021, the German BaFin had warned against GS4Trade (www.gs-4trade.com) and announced the launch of an investigation. In September 2021, the UK FCA issued another investor warning against the broker scam running as a white-label mutation on the SIRIX platform of Israeli Leverate. GS4trade Invest Limited, registered in the Marshall Islands, allegedly operates the broker, attacking consumers in English and German. As facilitating payment processors, we again found BridgerPay, Jubiter, and CoinDeck.

October 2, 2021

German BaFin follows FinTelegram and investigates ElitSolutions with BridgerPay!

FinTelegram warned against the broker scam ElitSolutions in early September 2021. At the time, the scam had come to our attention because it chased victims via the Bitcoin Buyer fraud marketing campaign. Recently, the German regulator BaFin announced investigations against ElitSolutions and its operator, the Polish Terem Ok Sp Z.o.o. Currently, victims can lose their money on credit and debit card payments in the scam. We have discovered BridgerPay as a payment processor.

September 21, 2021

Finally! German BaFin investigates JoyTrust broker scam!

We have already issued a warning against JoyTrust on May 14, 2021 (see notice here). The German regulator BaFin has followed our warning and announced investigations against the illegal broker JoyTrust (www.joytrust.net) and its operator, the UK registered Top Suite Ltd. According to our research, the JoyTrust scam has been active since 2020 with various payment processors such as iPayTotal or NeoBanQ. The illegal broker works with the Israeli PROFTIT CRM platform.

September 10, 2021

Introducing scam-facilitating payment processor NeoBanQ

NeoBanQ is one of the most aggressive scam-facilitating payment processors for credit and debit card processing. To name a few, Apollo Finances, Fortexo, ProfitMarket, ProAktivMarket, or StatusMarkets we have uncovered in the last few weeks. Often NeoBanQ works in combination with BridgerPay cashier. NeoBanQ is operated through an unregulated legal entity in the United Kingdom and controlled by Billy Eldridge. Since its launch in early 2020, the payment processor has facilitated dozens of major scams.

September 7, 2021

Introducing crypto payment processor Global DLT Exchange with Jubiter and Coindeck

Coindeck is a new high-risk crypto payment processor brand operated by Slovakia-based Global DLT Exchange S.R.O., which also operates Jubiter. The latter was the trade name of Estonian Jubiter Technologies OÜ, which was licensed until February 2021. After many scam involvements, the company lost or renounced its license. Jubiter was transferred to Global DLT Exchange S.R.O. but continued to surface as a scam facilitator. Frequently together with BridgerPay. Most recently, we also found both in the GoldBachInvest scam.

September 7, 2021

Spanish CNMV warns against BridgerPay client ProAktivMarket

CNMV has issued a warning against ProAktivMarket. An entity in St. Vincent and the Grenadines allegedly operates the scam. A specific legal entity is not named on the website of the scam, which attacks consumers and naive retail in German and English. German-speaking consumers seem to be the primary target. As a payment processor for credit and debit cards, we have once again discovered BridgerPay and Neobanq. Perfect Money and the Estonian crypto payment processor Quamtor are integrated into the facilitating BridgerPay cashier.

September 7, 2021

Attention! GoldBachInvest broker scam facilitated by BridgerPay and Coindeck

CNMV has issued an investor warning against GoldBachInvest (www.goldbachinvest.com). The operator of the scam is allegedly Gold Bach Invest Limited, registered in the Marshall Islands. Our educated guess would be that the same scammers and boiler rooms operate GoldBachInvest as the GS4Trade scam (report here). Both operate on Leverate's SIRIX platform. As a supporting payment processor, we again found Israeli-Cypriot VISA network partner BridgerPay; and Slovakian crypto payment processor Coindeck.

August 31, 2021

Cyprus Boiler Rooms in Belgrade II – Parogan, Olympus Prime, and Asgard

Israeli online entrepreneurs have annexed two cities in Europe - Limassol and Belgrade. The boiler room scene in Belgrade, the Manhattan of the Balkans, is still vibrant. We started our series with perhaps the most notorious boiler room operator in Belgrade, the Cyprus resident Armin Ordodary. With his Bizserve DOO, he runs a boiler room whose agents attack customers in Europe with various scams. Cypriot Nikos Andreou is also active in Belgrade through his boiler rooms Parogan and Olympus Prime. As is Pantelakis Kyriakou. But let's properly unfold the story.

August 24, 2021

Investor warning against broker scam InvCenter facilitated by Praxis Cashier

The Austrian Financial Market Authority (FMA) has recently issued an investor warning against the InvCenter broker scam (www.invcenter.com). The scam operator is allegedly St. Vincent and the Grenadines-registered Advanced Software Solutions Ltd. As a payment processor, we have once again found Israeli Cypriot Praxis Cashier by Amit Klatchko in our review. A year ago, in July 2020, the UK Financial Conduct Authority (FCA) warned against the scam, but Praxis Cashier is unimpressed. Stay far away from InvCenter and Praxis Cashier.

August 2, 2021

CNMV, BaFin, and FMA warn against Blumanstock broker facilitated by BridgerPay and Jubiter

On 2 August 2021, the Spanish regulator CNMV has issued an investor warning against the Blumanstock broker scam (www.blumanstock.com). The Austrian FMA and German BaFin did so in May and June 2021, respectively. The Marshall Islands-registered Blumanstock Limited is allegedly the operator of the scam. As the facilitating payment processors, we found the Israeli-Cypriot BridgerPay of Ran Cohen and the Slovak Global DLT Exchange S.R.O d/b/a Jubit