Crystal Ball Markets | FinTelegram News

Tag: Crystal Ball Markets

May 3, 2023

Urgent Warning Against Unauthorized Offshore Broker Crystal Ball Markets!

In March 2021, we issued our first investor warning against the unauthorized offshore broker Crystal Ball Markets The operator is Crystal Ball Markets LLC, registered in St. Vincent & The Grenadines. Since March 2021, the supporting payment processors have changed. Currently, clients can make their deposits via the Russian payment platform Perfect Money, bank wire, and crypto. We have given the offshore broker a red compliance rating.

Offshore Broker

August 25, 2022

Requested Update On Unauthorized Offshore Broker Crystall Ball Markets!

In March 2021, we issued an investor warning against the offshore broker scam Crystal Ball Markets, operated by the offshore entity Crystal Ball Markets LLC. Since March 2021, the supporting payment processors have changed. The offshore broker has no authorization to operate as a Forex, CFD or Crypto broker in Europe or other jurisdictions. We were contacted the brokers Chief Strategy Officer Sasaenia Omilabu and advised that Crystal Ball Markets would be registered with FINTRAC of Canada as a Money Services Business (MBS). Here is the update!

Illegal Broker Activities

September 6, 2021

Another investor warning against Crystal Ball Markets broker scam

In March 2021, we issued an investor warning against the broker scam Crystal Ball Markets (www.crystalballmarkets.com), mainly active on Instagram and social media. The scam operator is Crystal Ball Markets LLC, registered in January 2020 with registration number 262. The offshore entity was founded by the notorious company builder Wilfred Services Ltd. Since March 2021, the supporting payment processors have changed. Currently, the (potential) victims are asked to make their deposits primarily through PayPal or via cryptocurrencies. Stay away! Stay happy!

April 30, 2021

R4I – Secretive scam-facilitating payment processor Paystruct

In recent weeks, Paystruct (www.paystruct.com) has appeared more and more frequently as a payment processor in our analysis of scam brokers. Like many of the high-risk payment processors, Paystruct discloses very little information on its website. There is no indication of the legal entity and individuals behind it. Contact can be made by email or phone with a number in London. Also, there is no additional information on the merchant dashboard except that Paystruct is supposed to be the world's best closed-loop token payment system with payouts under 24 hours.

Illegal Broker Activities

March 4, 2021

Investor Warning – Crystal Ball Markets is most likely a scam

The unregulated offshore broker Crystal Ball Markets (www.crystalballmarkets.com) is allegedly operated through a legal entity with registration number 262 LLC 2020 in St Vincent and the Grenadines. The only employee we found on LinkedIn is Naina Sharma in Uttar Pradesh, India. However, the profile does not look real. The broker is currently very active on Instagram, Twitter, and Facebook and evidently tries to build up credibility. We found iPayTotal, PayStruct, Perfect Money, and Euro Pacific Intl. Bank Inc. as payment processors. The broker, of course, accepts crypto.

Solaris Bleeds Cash and Jobs: Can This High-Risk Fintech Survive, Let Alone IPO?

Solaris, a German fintech and neobank, has a long history of compliance troubles. Moreover, its ongoing financial losses and regulatory woes doubt its long-term profitability, even as it sheds jobs and restructures for survival. A potential IPO, as rumored by the German platform Gründerszene, seems speculative at best in light of its deep-rooted issues with compliance and financial stability.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.

Gotbit and Russian Executives Charged by U.S. DOJ and SEC for Crypto Market Manipulation!

Gotbit Consulting LLC, along with its Russian executives, has been charged by the U.S. DOJ and SEC for its role in a widespread market manipulation scheme. By using wash trades, Gotbit inflated crypto asset prices and volumes, deceiving investors and raising millions in illicit profits. The company’s fraudulent activities were executed across multiple jurisdictions, with key figures now facing extradition and prosecution.

SEC Charges Market Manipulators in Crackdown on Crypto Asset Fraud

The U.S. SEC has charged three market makers and nine individuals for manipulating the crypto asset market, generating artificial trading volumes and misleading retail investors. The fraudulent schemes created the illusion of active markets, prompting unsuspecting investors to pour money into manipulated crypto assets. The DOJ filed criminal charges against the scheme operators in a parallel transaction.

U.S. DOJ Charges 18 Individuals and Entities in Global Crypto Fraud Crackdown!

The U.S. DOJ has charged 18 individuals and entities in an international operation targeting market manipulation and fraud in the crypto industry. The defendants, including market makers and token promoters, are accused of using wash trading and false trading activity to deceive retail investors and artificially inflate crypto prices. This is the first major criminal case of its kind in the crypto market.