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Tag: MEXC

November 17, 2023

Breaking: MEXC Estonia Lost Crypto License Over Money-Laundering Issues!

We have reported on the MEXC crypto scheme several times in recent weeks. In particular, we have pointed out the situation that the unregulated crypto exchange MEXC processes the FIAT transaction via MEXC Estonia OÜ, which is licensed in Estonia. We recently downgraded MEXC to Red Compliance. Today, MEXC Estonia's license has been revoked in Estonia due to money laundering issues.

November 10, 2023

Attention: Crypto Exchange MEXC Downgraded To Red Compliance Status!

The Estonian entity MEXC Estonia OÜ holds a crypto license issued by the Estonian FIU. The entity operates as a payment agent and distributor for the crypto exchange MEXC. FinTelegram recently reported the warning issued by Austrian FMA against the crypto exchange MEXC. In October 2023, the German BaFin also issued a warning. Due to the regulatory warnings and other issues, we downgraded MEXC to our Red Compliance list. Here is the update.

September 7, 2023

Austrian Regulator Warns Against Estonian-Licensed Crypto Exchange MEXC!

The hunt by regulators against unlicensed or registered crypto exchanges continues. The Austrian Financial Market Authority (FMA) recently warned against the crypto exchange MEXC. In Europe, MEXC is operated through MEXC Estonia OÜ, which has a crypto license from the Estonian FIU. However, this license is not sufficient for the FMA, as MEXC provides banking services, the FMA says. Thus, we have orange-listed the crypto exchange.

Financial Intelligence Report: The Disappearance of Magua Pay, the High-Risk Payment Network of Moriel Carmi, and Regulatory Scrutiny

The recent disappearance of Magua Pay Inc. and its associated brand Black Rabbit raises serious concerns regarding the financial network behind high-risk payment processing, unauthorized financial services, and fraud facilitation. Magua Pay has long been identified as a facilitator of illegal gambling and broker scams

Breaking: Austrian Judicial Failure – OGH to Overturn Convictions in Europe’s Largest Cybercrime Case!

After years of investigations and legal proceedings, the Austrian judiciary has once again demonstrated its inefficiency in dealing with complex financial crimes. Despite overwhelming evidence and critical contributions from whistleblowers and FinTelegram, the Austrian justice system has failed to secure a solid conviction against two alleged masterminds behind the fraudulent broker scheme around the Bulgarian Tradologic.

Financial Analyst Update: Libra Token Scandal and New York Lawsuit

The Libra token ($LIBRA) scandal has escalated into one of the most significant cryptocurrency controversies of 2025, with a class-action lawsuit filed in New York spotlighting alleged misconduct by key players in the token’s launch. Here are the latest developments surrounding this debacle, including the legal action initiated by Burwick Law against Kelsier Ventures, KIP Protocol, and Meteora, as well as the broader implications for the crypto market and investors.

Urgent Warning: Beware of Suki Chen and the Streakk/Earn World Crypto MLM Schemes!

FinTelegram’s investigations, alongside whistleblower reports, reveal that Suki Chen (aka Sukijami Chendrawan) is the alleged founder of Streakk and successor scheme Earn.World. Both schemes are suspected to be pyramid or snowball schemes (MLM schemes) that have been promoting their own STKK token. These operations have been flagged as fraudulent and are under scrutiny for securities fraud and Ponzi-like activities.

Financial Intelligence Report: The Disappearance of Magua Pay and Black Rabbit – A High-Risk Payment Processor in the Scam Broker Ecosystem

Magua Pay Inc., a Vancouver-based money services business (MSB license M21111044) operating under the brand Black Rabbit, has vanished from the digital landscape as of March 2025. Both its primary website (magua_pay.com) and Black Rabbit’s site are either under construction or offline, signaling potential operational collapse or regulatory pressure. FinTelegram exposed Magua Pay as a payment facilitator of broker scams and unauthorized broker schemes,