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Tag: EESTI FIRMA

R4I – Scam-facilitating licensed Estonian crypto payment processor PayTechno

Crypto Payments tamir -
We already know Igor Torsin. Don't we? The 62-year old Estonian lawyer works for Estonian company builder Eesti Firma OÜ and is a director at nine FIU-licensed Estonian crypto companies (read this report). Among them is PayTechno OÜ, supervised by the FIU with license number FVT000151. The company was registered in May 2018 and operates two domains www.cryptopaytech.com and www.paytechno.com. The latter is one of the worst scam-facilitators as a crypto payment processor. We would like to know more.

Investor Warning – Trade Com Group, GlobalSpotFX, Spotfinex, FXonspot, and TopEuroFX scams

Illegal Broker Activities Charlene Lensburg -
GlobalSpotFX, Spotfinex, FXonspot, and TopEuroFX are associated with a Trade Com Limited, which does not appear to exist. In January and August 2020, the UK FCA issued investor warnings against the FXonspot scam; in September 2020, the Spanish CNMV. Until recently, the Google App Store offered the Spotfinex trading app. This has been renamed TopEuro FX (www.topeurofx.com) and is still available for download. As facilitating payment processors, we have discovered Payecards and Estonian Woodstock OÜ with the Lithuanian e-Money Institution Finolita Unio.

Estonian Compliance Issue – The Estonian lawyer Igor Torsin and Eesti Firma

Crypto Payments Charlene Lensburg -
We asked a few days ago, who is this Igor Torsin would be. A busy man for sure. We identified him as a director of nine FIU-licensed crypto payment processors in Estonia. Among these are also some that operate as scam facilitators - PayTechno or Steveyx d/b/a Venus Exchange. Evidently, he is the frontman for getting and maintaining the FIU license. We learned that Torsin is a lawyer working in Tallinn, Estonia, at Eesti Firma OÜ, a company builder specialized in crypto licenses, among other things.

Bleaxmond Scam – Boiler room agents vanished into thin air

Cybercrime Charlene Lensburg -
On Aug 7, 2020, the UK regulator FCA has warned against the Estonian broker scam Bleaxmond. FinTelegram reported on it here. While the website (www.bleaxmond.com) is still online, no registration is possible, and boiler room agents vanished victims reported. The illegal broker is operated by AlephLink Solutions Ltd OÜ, which is registered in Estonia. Efthymios Marangos and Karmo Neider used to be the company’s directors.

Update on Bleaxmond Scam Family with AlephLink Solutions

Cybercrime tamir -
The UK regulator FCA has warned against the Estonian broker scam Bleaxmond. The illegal broker is operated by the Estonian AlephLink Solutions Ltd OÜ,. The former director Karmo Neider informed us today that he resigned two weeks after the FCA warning.

FinTelegram is a cyberfinance intelligence and compliance platform investigating financial crime, regulatory violations, and the rails, entities, and ecosystems that facilitate them. Combining investigative journalism, whistleblower intelligence, and forensic compliance analysis, we map risk across payments, banking, crypto, and offshore structures to support transparency, accountability, and informed action.

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