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Tag: MisterBit

Latvian Racket: Investor Warning Against FinexTrader With ChargeMoney And HighIsk

FMA Ben -
The Austrian Financial Market Authority (FMA) has issued a warning against FinexTrader broker scam, part of the so-called Latvian Racket. It is allegedly operated by the Finex Group Ltd, which has already operated the now disappeared scams XFINANCES, eXFINANCES, and ZurichInvests. The Latvian Aleksejs Kohanovs is registered as the controlling person in the UK Companies Register. As payment processors, we have discovered ChargeMoney and HighIsk. Stay far away.

RIP MisterBit – the next broken Estonian payment processor?

Crypto Payments Ben -
FinTelegram has issued a lot of reports and warnings against broker scams or unauthorized brokers over the last two years where it was licensed Estonian crypto payment processor Futurus X OÜ d/b/a MisterBit as a facilitator. Ivan Abramov and Italian Cristiano Chiarugi are/were the managers responsible for MisterBit. While the website of licenses XFinances OÜ d/b/a Isunext have been down for weeks, MisterBit's website has been broken for weeks. It seem that this is the next vanishing licensed Estonian scam facilitators!

Regulated Estonian crypto payment processor Isunext vanished?

FIU Estonia Ben -
Isunext is the trading style of the crypto payment processor XFinances OÜ, registered and licensed as a crypto payment processor in Estonia by the FIU as the competent regulator. The beneficial owners of XFinances OÜ are the Latvians, Pavels Krasovskis and Rooba Urmas. The company is a part of the so-called Latvian Racket and has facilitated scams like XFinances, eXFinances, or Zurich Invests. For several days now, the company's website has been unavailable. Visitors receive the error code 523.

That was fast! First information on a lieutenant of Latvian Racket received!

FIU Estonia Ben -
UK-registered Preqster Ltd was part of the vast Latvian Racket and used to operate vanished broker scams such as Morgan FX Capital, Pips500, or Preqster FX. It was controlled by the Latvian citizen Sergejs Vasiljevs and was one of the many legal entities of the so-called Latvian Racket. In Nov 2021, Preqster Ltd was dissolved; its scams vanished. To follow these scams, we asked for information a few hours ago and received personal information regarding Sergejs Vasiljevs. Please continue! Let us chase and get those scammers!

R4I – The Latvian Racket, Estonian crypto payment processors MisterBit, and Isunext

Illegal Broker Activities Charlene Lensburg -
We ask for the support of our whistleblowers to supplement the information we have and to be able to create complete profiles from it. In the last few days, we have discovered two scams, Zurich Invests (here) and XFinances (here), where MisterBit of Cristiano Chiarugi, licensed in Estonia as a crypto payment processor, acted as payment facilitators. Also, we have received information suggesting a connection between MisterBit and Estonian Isunext.

Investor Warning against Finex Group, XFinances scam with MisterBit

Illegal Broker Activities tamir -
The XFinances broker scam was operated with domain www.xfinances.com until a few weeks ago and received some negative reviews. After that, it was switched to the currently active domain, www.exfinances.com. A tellinge name, isn't it? The scam is allegedly operated by FINEX GROUP LTD, which claims to be regulated by Swiss Financial Securities (SFINS) and Markets Financial Authority (MFA). Bullshit is this; these are no regulators! As payment processors, we have again the Estonian crypto payment processor MisterBit.

Consob orders blackout of Zurich Invests broker scam facilitated by MisterBit

CONSOB tamir -
The Italian Consob has this week again ordered the blackout of the websites of five illegally operating financial service providers. Among the blacked out is the scam broker Zurich Invests allegedly operated by BENELUXZURICH, KB ATM MANAGEMENT, and ZH COMPANIES BNK Ltd, registered in the UK. As payment processors, we have discovered the Estonian MisterBit processing the credit and debit card payments on behalf of the Zurich Invests scam.

Worst Scam Ever – UK FCA warns against BeforexCapital with MisterBit

Compliance Ben -
Like the COVID-19 virus, the scam virus is spreading across the internet with a logarithmic growth. The FCA issued an investor warning on November 9, 2020, against BeforexCapital and Capital Holding Funds allegedly operated by Capital Holdings LLC, St. Vincent & the Grenadines. As payment processors, we have discovered Praxis Cashier with the Estonian crypto exchange MisterBit.

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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