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Tag: CoinsPaid

September 19, 2024

Cyprus Real Estate Firm Partners with Notorious CryptoProcessing for Crypto Payments! And Some Background!

Anything is possible in Cyprus. Especially when it comes to cyber finance and illegal gambling and financial platforms. Cyprus was the global hub for illegal and fraudulent binary options. Providers of crypto services have also found a home there. The island is also home to the Dream Hill real estate company, which now offers the purchase of apartments via cryptocurrencies. The partner for this is CryptoProcessing. Here is the most important thing in Telegram style.

September 12, 2024

Starscream Casinos: Offshore Casino Operator, Potential Regulatory Evasion, Payment Facilitators, and More Cyprus Connections!

Online casinos are easily transferable digital assets. The transfer of Gammix Ltd's casinos to offshore operator Starscream Ltd raises serious questions about the continued illegal gambling activities in Europe. Despite massive penalties from the Dutch regulator KSA, Gammix appears to have simply shifted its operations offshore, where it continues to flout regulatory oversight facilitated by regulated payment processors.

Reviews & Ratings

August 2, 2024

Review: Offshore Online Casino Operator Starscream and its Payment Facilitators

As part of our “Follow the Money” research strategy, we look at online casino and gambling schemes and analyze the facilitating payment processors. We often discover FinTechs such as Revolut, MoonPay or Binance Pay, but also many open banking service providers such as Noda. We also discovered a number of facilitating payment processors at the online casinos of the Starscream Group in addition to illegal activities. Here is our review.

May 10, 2024

Between SoftSwiss and CoinsPaid: Who is Ivan Montik?

In the world of iGaming and crypto payment processing, the Belarussian national Ivan Montik is a figure of intrigue and influence. He is the founder and CEO of SoftSwiss, a leader in crypto-based online casinos and gambling solutions. Moreover, he is also the founder of the Austrian-Estonian crypto payment processor CoinsPaid, that is focused on high-risk industries. Officially, the beneficial owner of CoinsPaid is the Austrian Alexander Hors Riedinger. Who is Ivan Montik?

May 9, 2024

Investigative Report: Allegations of Money-Laundering, Tax Fraud, and Compliance Issues Against Crypto Payment Processor CoinsPaid.

Investigative reports published by Shana Dovi on Medium has raised serious allegations against CoinsPaid, an Austrian crypto payment processor operated under Dream Finance OÜ via Estonia. The report outlines a complex scenario of financial misconduct, fraud, and regulatory evasion allegedly orchestrated by the company's management and its shadow stakeholders. Allegedly, the Austrian beneficial owner is only a frontman for the Belarussian people.

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.

August 3, 2023

CoinsPaid Recovered From Lazarus Crypto Heist, All Payment Requests Successfully Processed!

As reported by FinTelegram, the crypto payment processor CoinsPaid has been hacked by the North Korean cybercrime racket Lazarus Group. The company reported that approximately $37 million in cryptocurrency was stolen in this crypto heist. Recently, CoinsPaid announced a near-complete recovery of its weekly transaction volume. The company used data from the Crystal Blockchain service to illustrate its recovery progress.

July 30, 2023

Crypto Heist: Lazarus Group Allegedly Stole $37M From CoinsPaid In A Cyberattack!

Estonia-based crypto payment processor CoinsPaid, controlled by the Austrian national Alexander Horst Riedinger and his Ukraine partner Max Krupyshev, has reported that approximately $37 million in cryptocurrency was stolen in a cyberattack likely orchestrated by the North Korean Lazarus Group. The company suspended automatic transactions and began moving the systems to new infrastructure.

July 3, 2023

Estonian Crypto Payment Processor CoinsPaid Claims A Strong Growth (Again) Without Providing Details!

Crypto payment processor CoinsPaid operates through legal entities in Estonia, Lithuania, and El Salvador. Dream Finance OÜ, the operating entity holding a crypto license in Estonia, is controlled by Austrian entrepreneur Alexander Horst Riedinger and led by Max Krupyshev as CEO. CryptoProcessing is another brand also operated by the Estonian entity. In a new press release, CoinsPaid said that its "spring numbers" 2023 exploded again in a YoY comparison.

May 11, 2023

Crypto Payment Processor CryptoProcessing And Its Russian-Focused Client Pokerdom!

Pokerdom is an online gambling site specializing in Russia and Belarus. According to Similarweb statistics, around 90% of visitors to their different websites in the last 28 days came from these two countries affected by the Western sanctions. The Austrian-controlled crypto payment processor CryptoProcessing, operating via an Estonian crypto license, is the crypto payment processor for Pokerdom.

High-risk payment processors

March 17, 2023

Strange! Crypto Payment Processor CoinsPaid Does ‘Not Announce’ Audited 2021 Numbers!

Crypto payment processor CoinsPaid operates through legal entities in Estonia, Lithuania, and El Salvador. Dream Finance OÜ, the operating entity, which holds a crypto license in Estonia, is controlled by Austrian entrepreneur Alexander Horst Riedinger and led by Max Krupyshev as CEO. In a new press release, CoinsPaid claims to announce 2021 numbers audited by Crowe Global. The truth is that the company does not announce any number.

February 9, 2023

Impressive: Crypto Payment Processor CoinsPaid Disclosed A Billion Euro Transaction Volume!

Crypto payment processor CoinsPaid operates through legal entities in Estonia, Lithuania, and El Salvador. Through Dream Finance OÜ, it holds a crypto license in Estonia. The company is controlled by Austrian entrepreneur Alexander Horst Riedinger and led by Max Krupyshev as CEO. In a press release, CoinsPaid said it processed a transaction volume of around €3 billion in Q4 2022. This is an increase of more than 30% compared to Q4 2021. CoinsPaid claims that its payment gateway processes allegedly about 8% of global on-chain Bitcoin transactions.

Cash Cow Crypto: U.S. CFTC Enforcement Sets Records in FY 2024 with $17.1 Billion in Monetary Relief!

The U.S. Commodity Futures Trading Commission (CFTC) achieved a landmark year in FY 2024, securing over $17.1 billion in monetary relief, including $2.6 billion in civil penalties and $14.5 billion in restitution. The agency’s groundbreaking actions spanned digital asset (crypto) markets, voluntary carbon credits, and major compliance cases, highlighting its leadership in safeguarding market integrity.

U.S. DOJ’s Whistleblower Pilot Program: 250+ Tips in Just Months!

Whistleblowers are the only effective way to fight financial crime. The U.S. DOJ whistleblower pilot program has already proven effective, generating over 250 tips of potential misconduct since its launch in August, according to Principal Associate Deputy Attorney General Marshall Miller. According to a Reuters report, the initiative targets corporate malfeasance and encourages internal self-disclosure by companies.

Online Gambling: Lokinvestigation in Curaçao, its Maltese Connections, and How to Shut Down!

For many years, the far-far-away Curacao was the regulatory mecca of global online gambling. But that is over. The Lokinvestigation, spearheaded by opposition politician and forensic investigator Dr. Luigi Faneyte, reveals systemic failures and alleged corruption in Curaçao’s online gambling sector. With ties to Maltese investors and global financial networks, the report demands transparency but also carries political implications.

KTM’s Collapse: How Pierer and Blazicek Possibly Misled Investors and Profited Amid a €2.9 Billion Crisis!

The recent insolvency filing by KTM AG, Europe's largest motorcycle manufacturer, has unveiled significant managerial failures under CEO Stefan Pierer and Chairman of the Supervisory Board Josef Blasicek of Pierer Mobility AG. Despite clear indicators of financial distress, the company continued to distribute substantial dividends, misleading investors about its fiscal health. Here is an investor update on the KTM case.

Investor Briefing

Investor Briefing: Why Elon Musk’s SpaceX is valued at $350 Billion!

SpaceX, Elon Musk's private aerospace company, is reportedly in discussions to sell insider shares at a valuation of approximately $350 billion. This would be double what the company was reportedly selling shares at one year ago. In December 2023, Bloomberg reported SpaceX shares were being sold at a $175 billion valuation. Musk's closeness to Trump is apparently paying off.