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Tag: Cryptoprocessing

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

Racing into Controversy? CoinsPaid Shifts Gears with Barrichello Sponsorship Amid Regulatory Scrutiny

CryptoProcessing by CoinsPaid has launched a new motorsport sponsorship campaign with racing prodigies Eduardo and Fernando Barrichello. But behind the glossy Web3 marketing lies a history of regulatory red flags and allegations of facilitating illicit payments. As FinTelegram has repeatedly reported, CoinsPaid is far from a neutral fintech innovator.

Russian Propaganda? Finance Talk And Its Report on Ivan Montik

Recent reports have brought to light intricate relationships among several entities and individuals in the online gambling and cryptocurrency sectors. Notably, Belarusian tech entrepreneur Ivan Montik has been identified as a key figure in these developments. While parts of the report on Finance Talk are related to the FinTelegram findings, Finance Talk is flagged as a Russian fake news site.

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.

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.

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.

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.

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.

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.

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.

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.

Interesting! Crypto Payment Processor CoinsPaid Announced Impressive Performance Numbers!

A few days ago, CoinsPaid, including CryptoProcessing, issued a press release claiming to be the largest crypto payment ecosystem. Allegedly, it has processed over €16 billion worth of crypto in total and continues growing by nearly €1 billion per month in the declining market. In Q3 2022, CoinsPaid allegedly processed 4.9 million transactions worth approximately €3 billion. We exposed CoinsPaid as a payment processor in broker scams and illegal gambling ventures. Impressive, isn't it?