Tag: Chhavi Mishra

FinTelegram has already reported that the UK entities behind the high-risk payment processors, Kryptova, Bitmatix, and Paypound are in the process of being dissolved. The UK Companies House announced that the companies cease to exist via voluntary strike-off as of April 18, 2023. They belong to the network of notorious Indian payment veteran Ruchi Rathor. Merchants should take the best care of their money and avoid black-listed Kryptova, Bitmatix, and Paypound.

The high-risk payment processor BitMatix is part of Ruchi Rathor's network and is operated by her son-in-law Yuvraj Singh. Until recently, BitMatix IO Ltd in the UK was listed as the operator. On January 23, 2023, a voluntary strike-off request was filed by the company. As with the other UK companies in the network, Kryptova, and Paypound. The BitMatix website now states a BitMatix Inc. as the operator. We have not been able to find this company and advise merchants to be super-cautious.

Kryptova Biz Ltd d/b/a Kryptova (www.kryptova.biz) is or was an unregulated crypto-focused high-risk payment processor. The company was established in October 2021 by the Indian citizen Chhavi Mishra and is controlled via an offshore entity on the Isle of Nevis. We suspect that Kryptova is part of the network of Indian-British payment veteran Ruchi Rathor. Currently, one of Kryptova's websites has gone offline, and a first notice for a compulsory strike-off is registered at the UK Companies House.

High-risk processor Payomatix is one of the many payment ventures of the notorious British-Indian Ruchi Rathor, the mastermind behind the collapsed payment scheme iPayTotal scheme. Just recently, Rathor launched the RaiseMoney initiative, an online community assisting entrepreneurs and investors in their early-stage financing. The legal entity behind this new scheme is Payomatix Technologies Pvt Limited, a company black-rated on PayRate42. We advise merchants and investors to be super-cautious!

The high-risk processor Payomatix is one of the many payment ventures of the notorious British-Indian Ruchi Rathor, the mastermind behind the collapsed payment scheme iPayTotal scheme. The scheme’s UK entity went into insolvency with creditor claims totaling about GBP 1.1M (report here). On LinkedIn, Payomatix is currently soliciting gambling operators that plan to address the Indian market. Payomatix is black-rated on PayRate42. We advise merchants to be super-cautious!

In Nov 2020, a UK court ordered iPayTotal Ltd to go into insolvency and liquidation. Many millions disappeared in the collapse of the British-Indian high-risk payment scheme. The beneficial owners were Ruchi Rathor, Anirudh Pratap Singh Rathor, and Anurag Pratap Singh. They operate several successor schemes through legal entities in India and Europe. Ruchi Rathors future son-in-law, Yuvraj Singh, is the mastermind behind OpenUp, Kryptova, and BitMatix. Merchants should avoid these payment schemes.

Kryptova Biz Ltd d/b/a Kryptova is an unregulated crypto-focused high-risk payment processor established in October 2021 by the Indian citizen Chhavi Mishra. FinTelegram has exposed Kryptova as a scam facilitating payment processor times and again. Recently, the company appointed the Panamese Manuel Jose La Serna as a Director and registered a new controlling entity - Kryptova Biz LLC on the Island of Nevis; this is where Paypound's parent company resides. We believe that the very same people control them.

iPaytotal was a notorious Indo-British high-risk payment processor that was primarily involved in scams and cybercrime activities. FinTelegram has exposed iPayTotal as a facilitator in dozens of scams. In Nov 2020, iPayTotal Ltd in the UK was ordered by the court to go into insolvency and liquidation. Many millions disappeared in the process. The beneficial owners were Ruchi Rathor, Anirudh Pratap Singh Rathor, and Anurag Pratap Singh. They are currently operating a number of successor schemes through their companies in India and the UK. BitMatix is just one of them.

The court-appointed Joint Liquidators submitted a progress report in Feb 2022 providing a sense of the scale of the iPayTotal disaster while outlining how these high-risk payment processors operate. The liquidators identified 13 creditors but only seven reported claims totaling about GBP 1.1 million. These are likely to be the merchants who wanted to receive their payments through iPayTotal. iPayTotal Ltd was just one of many legal entities in the vanished group. So we can assume that the damage to the merchants is actually many times higher. Many millions have disappeared.

It seems that the former people around the collapsed high-risk payment processor iPayTotal have developted a vast network of successor companies. Initially, OctaPay was a successor but since vanished again. Currently, Paypound and Payomatix and the crypto payment processors Cryptomatix and Kryptova are associated with Indian-British iPayTotal co-founder Ruchi Rathor. iPayTotal is active as a fintech software provider through companies in India and Portugal. Ruchi Rathor is still one of the driving forces behind these high-risk payment ventures with close African ties.

Kryptova Biz Ltd d/b/a Kryptova (www.kryptova.biz) is an unregulated crypto-focused high-risk payment processor. The company was established in October 2021 by the Indian citizen Chhavi Mishra and had its registered office at a virtual office address in London. We last exposed Kryptova at Invest Area broker scam as a facilitating payment processor. The Spanish CNMV, the Italian Consob, and the German BaFin issued warnings against Invest Area. We would like to learn more about this new kid on the block.