Tag: Maksym Krupyshev

A cache of internal communications leaked by a high-level whistleblower has finally shattered the wall of separation between CoinsPaid and the notorious AlphaPo. The evidence reveals a coordinated effort by CEO Max Krupyshev and Head of Legal Maria Akulenko to mask financial interdependencies, including a mysterious loan from AlphaPo and direct executive overlaps.

Dream Finance OÜ, the Estonian core entity behind the CoinsPaid/CryptoProcessing brands, has published its audited 2024 financials. The numbers show a spectacular turnaround from a large 2023 loss to a strong profit. It is also noteworthy that Dream Finance UAB in Lithuania also achieved an impressive profit of just over €1 million in 2024, with revenues of slightly more than €1.9 million.

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.

In the world of iGaming and crypto payment processing, the Belarussian national Ivan Montik is a figure of intrigue and influence. He is the founder and CEO of SoftSwiss, a leader in crypto-based online casinos and gambling solutions. Moreover, he is also the founder of the Austrian-Estonian crypto payment processor CoinsPaid, that is focused on high-risk industries. Officially, the beneficial owner of CoinsPaid is the Austrian Alexander Hors Riedinger. Who is Ivan Montik?

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.

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.

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.

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.

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?

We warned against the scam Global Trader broker a few weeks ago where we found CryptoProcessing as one of the payment facilitators. In a statement, CryptoProcessing, part of the CoinsPaid group, admitted that they were briefly involved in the scam environment through their UK partner Charge Money Ltd but immediately terminated the business relationship after our warning. Our initial CryptoProcessing review discovered that this is supposedly the leading crypto payment facilitator in online gambling. A silent giant!

In Nov 2021, the UK FCA issued a warning against the Global Trader scam; FinTelegram brought a detailed report on the broker scam facilitated by the payment processors PayPound. Additionally, we found the licensed Estonian crypto company Dream Finance OÜ, which sent FinTelegram a statement representing that they never intended to process payments for Global Trading but has been deceived by UK-registered Charge Money Ltd, which secretly acted as a payment agent for the scam. Global Trader already vanished.

TODAY, the UK FCA issued a warning against the Global Trader broker scam. The scam's website claims that its offices are in Canary Wharf in London. Of course, this is not true. Information about the operating legal entity or the responsible jurisdiction is searched in vain. Payment processors we have are PayPound for credit and debit card payments and Dream Finance OÜ d/b/a Cryptoprocessing.