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Tag: Finexics

September 30, 2021

EFRI, Paytah, and quite interesting Financial Ombudsman Hearings in Malta

Phoenix Payments Ltd d/b/a Paytah, registered in Malta and regulated by the MFSA, is currently at the center of regulatory and criminal investigations in several European jurisdictions. In addition, Paytah is facing claims from scam victims who made deposits to various scams through Paytah and its affiliates. The European Fund Recovery Initiative (EFRI) represented the interests of victims at an obscure Financial Ombudsman hearing in Malta. Franklin Cachia of CSB Group represented Paytah. Cachia is currently the company's contracted compliance officer.

August 25, 2021

Pointless 404 investigation – German BaFin launches probe into vanished Finexics

FinTelegram has issued several warnings against the Finexics broker scam. Likewise, some regulators such as the Austrian FMA have issued investor warnings. The scam was operated through Slinqo Group Ltd, allegedly registered in Cyprus. As predicted, the scam has since disappeared. Nevertheless, the BaFin has announced investigations against the scam and its operators. BaFin will probably not find anything to find the scammers, and investors cannot be protected now either. It's more a sort of forensic investigation, which is the job of law enforcement.

May 10, 2021

Investor Attention – Austrian Regulator warns against Finotive

We have warned against the Finotive broker scam (www.finotive.net) twice before. Following FinTelegram, the Austrian FMA issued an investor warning against it. VT Group Ltd in Cyprus allegedly operates the scam. We identified Harmonte Group LLC in St. Vincent and the Grenadines as a co-operator registered with PayTechno as a merchant. As a payment gateway, we again have PayBox (a/k/a BoxiPay) with PayTechno, PayCent, iPayTotal, and NeoBanq. Some scams die hard.

April 26, 2021

Fraudulent BitQT campaign chasing victims for Finexico scam facilitated by Paytechno et al

A new email in our junk folder from [email protected]. It leads us first again to the already well-known fake article on LPONLINE or TopOnTechBiz. From there, we move on to the fraudulent BitQT campaign on Amazing Offers and Bitcoin Revolution to the broker scam Finexico, which was until recently operated as Finexics and Finotive by Harmonte Group LLC, St. Vincent and the Grenadines, and SLN Development LTD in Cyprus. This network operates white label scams on the running bank. We have already reported about it.

March 23, 2021

Investor Warning – Bitcoin System scheme with Finotive and Finexics broker scams

The fraudulent affiliate campaign Bitcoin System led us today to the broker scam Finotive (www.finotive.net), supposedly operated by Harmonte Group LLC, registered in St. Vincent & the Grenadines. In our scam review, we met old acquaintances. Once again, PayBox (cashier.boxipay.io) was in action as the cashier. As scam-facilitating payment processors, we also discovered the usual suspects. Once again, we exposed iPayTotal, PayNetEasy, PayTechno, and PayCent.

December 15, 2020

Austrian Watchdog FMA warns against broker scam Finexics

Austrian Financial Market Authority (FMA) has issued an investor warning against the scam broker Finexics (www.finexics.io). Slinqo Group Ltd in Cyprus allegedly operates this. We haven't found the company, though. The scam's website is available in English, German, Italian and Spanish. On the German version, Finexics claims to be the world's largest provider of Forex CFDs. Currently, it is no longer possible to register on the website. The scam should have vanished soon.

December 14, 2020

Austrian Watchdog FMA warns against broker scam Finexics

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.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.