Tag: Changelly

FinTelegram issues urgent warning against illegal online casino BetsolinoU
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December 19, 2024

Urgent Warning Against Illegal Online Casino Betsolino and its Payment Facilitators!

We recently found an interesting review on LinkedIn about the apparently illegal online casino Betsolino, published by Digital Marketing Strategist Michael Schmitt. According to the review, Betsolino has been identified as an illegal operation. Therefore, we looked at Betsolino and its payment processors. We discovered red flags and issued an urgent warning.
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Payment processors and the online casino and gambling industryU
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January 31, 2024

Uncovering the Shadow: How Payment Processors Unwittingly Fuel Illegal Online Gambling Operations

We've uncovered a concerning trend in our recent analysis of the online casinos and gambling sector, particularly focusing on the high-risk aspects of these activities and their associated payment processors. Many payment processors, including those regulated by financial authorities, seem to be unknowingly engaging in unauthorized and, consequently, illegal online gambling operations. FinCrime Observer published an interesting report about this scene and its payment processors.
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Dama Group and its crypto payment schemeA
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January 28, 2024

Attention: Offshore Casino Operator BitStarza Facilitated by Crypto Payment Processors MoonPay and Changelly!

FinTelegram has pointed out several times that offshore operators of online gambling, casino, and sports betting sites, such as the Dama Group, are increasingly relying on crypto to accept deposits from their clients without having a regulatory permit. In doing so, they use companies they set up in Cyprus as payment agents. The most popular payment facilitators for crypto payments include MoonPay and Changelly. Both facilitate Dama Group's BitStarz.
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Similarweb Margex for September 2022U
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October 24, 2022

Unauthorized Crypto Broker Margex Continues To Grow In The U.S.

The Spanish regulator CNMV issued a warning against crypto derivatives broker Margex. The unauthorized offshore broker offers leverage of up to 100:1, which is significantly higher than the maximum leverage of 30:1 allowed by ESMA. Margex is active on Twitter, YouTube, and Facebook and deploys an aggressive affiliate and referral system to chase new clients. According to the latest statistics, the broker receives most of its traffic from clients in the U.S.
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MFSA-regulated broker Deriv and its offshore activitiesI
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August 15, 2022

Introducing Highly Rated Maltese Broker Deriv And Its Offshore Approach!

On Trustpilot, Deriv, the online broker founded by Jean-Yves Sireau in Malaysia in 1999, receives an impressive 4.5-star rating based on nearly 15,000 reviews. Deriv operates globally with various legal entities and has more than one million clients and more than 1.8 million trading accounts. In Europe, Deriv operates through MFSA-regulated Deriv Investments (Europe) Ltd. According to Similarweb, Deriv focuses on Brazil and South Africa, where nearly 25% of the website's 5.8 million visits are sourced.
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investor warning against crypto derivative broker MargexA
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June 1, 2022

Attention! Unauthorized Offshore Broker Margex Still Soliciting Clients!

In Feb 2022, Spanish CNMV issued a warning against crypto derivatives broker Margex. On its website, Margex claims that the so-called MP Shield system would protect clients from price manipulation on the crypto market. The offshore broker offers leverage of up to 100:1, which is significantly higher than the maximum leverage of 30:1 allowed by ESMA. Margex is active on Twitter, YouTube, and Facebook and deploys an aggressive affiliate and referral system to chase new clients. Margex is still active with Changelly and ChangeNow!
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investor warning against crypto derivative broker MargexI
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February 8, 2022

Investor warning against crypto derivative broker Margex!

The Spanish regulator CNMV has issued a warning against crypto derivatives broker Margex (https://margex.com). On its website, Margex claims that the so-called MP Shield system would protect clients from price manipulation on the crypto market. How this is supposed to work is not explained. The offshore broker offers leverage of up to 100:1, which is significantly higher than the maximum leverage of 2:1 allowed by ESMA. Margex is very active on Twitter, YouTube, and Facebook and deploys an aggressive affiliate and referral system to chase new clients.
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CNMV warns against PrimeBitS
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April 19, 2021

Spanish CNMV issues warning against PrimeBit crypto trading platform

Spanish regulator CNMV has issued a warning against the self-proclaimed P2P crypto trading platform PrimeBit (www.primebit.com). This is allegedly operated by PrimeBit Ltd, registered in St. Vincent and the Grenadines. There you can trade the USD against BTC, ETH, and LTC. Customers can only deposit Bitcoin (BTC) and Tether (USDT) there. If you don't have any cryptocurrencies to deposit, the crypto exchange Changelly (www.changelly.com) is suggested for you to buy. PrimeBit seems to be a scam to us.
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