Pavels Krasovskis | FinTelegram News

Tag: Pavels Krasovskis

August 30, 2022

Latvian Racket: Estonian Nominee Director Of Scam Operator XFinances Filed Fraud Complaint!

The disappeared Estonian XFinances OÜ d/b/a Isunext was part of the Latvian Racket and the operator or facilitator of numerous broker scams. The Estonian citizen Urmas Rooba informed us that he would not the beneficial owner of XFinances OÜ. On 15 Sept 2020, he allegedly sold 100% of XFinances OÜ to the Latvian Pavels Krasovskis. Until the moment of the sale, XFinances had developed no activity except that the company had been granted a virtual currency license.

May 4, 2022

RIP MisterBit – the next broken Estonian payment processor?

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!

April 14, 2022

Regulated Estonian crypto payment processor Isunext vanished?

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.

March 16, 2021

Latvian Racket – CNMV investor warning against XFinances

We issued an investor warning against the XFinances a/k/a eXFinances broker scam a few days ago. Now the Spanish regulator CNMV has also issued a warning against the scam. This scam is operated by Finex Group Ltd, registered in the United Kingdom. According to our findings, this scam is part of the Latvian Racket, a European cybercrime organization with a diverse portfolio of scam activities, including the licensed payment services provider Isunext in Estonia.

March 15, 2021

The Latvian Racket – The e-book scams and undercover payment services

We just opened the Latvian Racket Case. One of its members is Pavels Krasovskis, the UBO of the licensed Estonian crypto payment processor Isunext. Until December 2020, he was also associated with the UK-registered e-commerce merchant K.L.A. Enterprises Ltd, which operates a portfolio of identical websites selling e-book subscriptions and the scam site www.greatoffers.email. Our educated guess is that this company is also an illegal "undercover" payment processor.

March 14, 2021

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

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.

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.