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Tag: Kostas Leonida

November 29, 2022

Dear Legal Department of Alvexo! Stop Your Defamation Campaign!

In April 2022, we published an initial report on the CySEC-regulated Alvexo Group and its offshore activities. In our review, we found that Alvexo used fraudulent crypto campaigns such as 1k Daily Profit or BitIQ to promote its website. Those who registered with these fraud campaigns were directed to the payment page of the offshore broker Alvexo. The CySEC broker has threatened the FinTelegram hosting partner to have the review removed. However, our hoster did not see any violation. Here is the story of the Alvexo defamation campaign against FinTelegram!

May 2, 2022

Introducing CySEC-regulated Alvexo and its offshore onboarding activities!

A few weeks ago, we published our initial review about the offshore broker Alvexo is operated by HSN Capital Group Ltd, regulated by the Financial Services Authority (FSA) Seychelles. It is part of the CySEC-regulated Alvexo operated by VPR Safe Financial Group Ltd. The offshore broker accepts pre-KYC deposits with credit and debit cards, bank transfers, or e-wallets. In our follow-up review on May 2, 2022, we could have easily deposited €50,000 via bank transfer through the Nuvei cashier and optionally received a First Deposit Bonus of 30%.

April 12, 2022

Attention! CySEC-regulated Alvexo Group chases consumers with crypto fraud campaigns!

The website Wealth Info (https://wealth-info.com) is a fake review site and promotes scam campaigns, which it rates with 9+ stars. Today we clicked on the 1k Daily Profit and were taken to the Investment Generator website (https://investment-generator.com), where the 1k Daily Profit campaign is running and promises wealth via Bitcoins. Those who register there will be redirected to the payment page of the offshore broker Alvexo, which belongs to the CySEC-regulated Alvexo Group.

Paxum Bank: The Offshore Bank for the Porn Industry!

Paxum Bank, an offshore financial institution based in Dominica, has found itself at the center of controversy due to its connections with high-risk industries and recent revelations about its relationship with the embattled Tate brothers. Specializing in serving the adult entertainment sector, the bank has become a key player in providing financial services to businesses often shunned by traditional banks. However, this niche focus has also drawn scrutiny from regulators and investigators.

Tate Brothers Case: The Misogynist Influencers Used Offshore Accounts to Launder Proceeds from Sexual Exploitation!

New evidence suggests that the influencer Andrew Tate and his brother Tristan Tate used offshore accounts, including Paxum Bank, to conceal profits from their controversial webcam business. The Tates are facing serious charges, including human trafficking and money laundering. This case highlights the need for robust AML/KYC practices, particularly for payment processors in high-risk sectors like adult entertainment.

UK FCA Charges First Individual for Operating Illegal Crypto ATM Network for Money Laundering!

The UK Financial Conduct Authority (FCA) has charged London-based Olumide Osunkoya with running an illegal crypto ATM network, marking the first case of its kind in the UK. As crypto ATMs are increasingly used for money laundering, the FCA's crackdown on unregistered operators underscores the need for strict regulatory compliance. The ATM scheme allegedly processed £2.6 million in crypto transactions.

Public-Listed Crypto Exchange Coinbase Has to Face Shareholder Lawsuit Over SEC Risks!

U.S. crypto exchange Coinbase must face a shareholder lawsuit accusing it of downplaying regulatory risks, specifically the chances of being sued by the SEC. While a U.S. judge dismissed parts of the case, the key allegation of misrepresenting regulatory risks will proceed. This case underscores the importance of transparency in the crypto sector, where regulatory uncertainties continue to loom large, particularly in the U.S.

U.S. Regulator SEC Charges Seven Public Companies for Violating Whistleblower Protection Rules!

The U.S. Securities and Exchange Commission (SEC) charged seven public U.S. companies with using agreements that restricted employees from reporting securities law violations, resulting in over $3 million in penalties. The SEC takes strict action against organizations and individuals who seek to contractually restrict whistleblowers' rights. The regulator needs insiders to disclose financial wrongdoing and compliance violations.