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Tag: Pradexx

March 5, 2023

Investor Warning Against TitanPros Broker Scam!

The Austrian Financial Market Authority (FMA) has issued an investor warning against the broker Scams TitanPros. The website does not provide details about the operators or the jurisdiction. The phone number provided on the website is also associated with several other scams, such as FRCM Management or FReserves. Most recently, TitanPros has been promoting itself via press releases. Stay far away, and protect your financial health and private data.

October 3, 2021

Investor Alert! IFXTRADES broker scam with SecurePayment3D wants your money!

The IFXTRADES crypto broker scam is allegedly operated by Phenix tech Ltd, which has also been related to the Markets Cap scam. Would-be victims of IFTXTRADES can buy Bitcoins (BTC) or Tether (USDT) via credit and debit cards which are then deposited to the scam's wallets. We found SecurePayment3D as the facilitating payment processor. The SecurePayment3D domain is connected iMarketserviceFX, whose operators are being sued and sought by the U.S. regulator CFTC.

April 23, 2021

New – List of scam-facilitating Estonian crypto payment processors

Digital currencies are the future in one way or another. For a few months now, online payment pioneer PayPal has also been accepting bitcoins and other cryptocurrencies. Estonia is currently the epicenter of European crypto payment processors. As of mid-2020, the Estonian FIU had issued more than 3,000 licenses (report here). Unfortunately, many of them are used to facilitate scams and illegal payment services. We have drafted a list of Estonian crypto payment companies that have come to our attention in scams.

Crypto Payments

February 28, 2021

Pradexx – While the high-risk payment processor’s website is back its CFO is gone

It is accessible again. We mean the website of the licensed Estonian high-risk payment processor and scam facilitator Pradexx. Its main page www.pradexx.com was not accessible via any browser for a few days due to security problems. We have reported about it. Today the site is available again. No reason is given for the inaccessibility, neither on the website nor on the associated LinkedIn channel. On the other hand, we can see that on LinkedIn, that its CFO, Matan Roee, is no longer working for Pradexx. He is now CFO of the Israeli crypto FinTech Komoline.

February 4, 2021

Pradexx again! FMA warns against the payment processor’s scam client iTradeFX

FinTelegram readers are not new to our opinion that payment processors are responsible for many scams and damaged victims. Without payment processors knowingly and willingly participating, 99% of the scams would not be possible in the first place. One of these payment processors is the Estonian Pradexx operating with one of those worthless FIU crypto licenses. Today we found Pradexx again as a scam facilitator in iTradeFX, against which the FMA has issued an investor warning.

January 4, 2021

The Estonian Money-laundering Issue – Crypto Payment Processors BlueData, and Lipan Services

The Estonian regulatory regime had been a severe issue for the EU since the inception of its crypto license program some three years ago. Even though the Estonian Ministry of Finance recently announced that its FIU revoked more than 1,000 licenses, there are still about 400 regulated crypto payment companies active in the market billing themselves as "EU-regulated" payment processors. Companies like BlueData OÜ, or Lipan Services OÜ facilitate and/or operate scams. These companies are also customers of the Lithuanian GlobalNetInt which is part of the network.

July 27, 2020

Request 4 Information – Israeli-Estonian Payment Processor Pradexx

Some of the PumaTS broker scams are facilitated by the Israeli-Estonian payment processor Pradexx OÜ. This company is the legal entity operating the FIAT payment platform Pradexx (www.pradexx.com) and the crypto payment platform NextPayWay (www.nextpayway.com). According to the information provided on its website, NextPayPay has managed to acquire "over 380,000 people across 123 countries since 2018." Impressive, isn't it? We would like to learn more.

US Treasury Forgives Ukraine Looters!

On 26 September 2024, the United States Treasury’s Financial Crimes Enforcement Network ‘FinCEN’ made the astonishing decision to drop sanctions against ABLV Bank of Latvia. ABLV was sanctioned in 2018 for a list of reasons, including helping Ukrainian President Viktor Yanukovich’s bagman, Serhiy Kurchenko, steal billions of dollars from Ukraine.

Gurbir Grewal’s Departure from the SEC: His New Position and Potential Impact on Crypto Regulation!

Gurbir S. Grewal, the former Director of the Division of Enforcement at the U.S. Securities and Exchange Commission (SEC), has left his position to join Milbank LLP, one of the most innovative and prestigious law firms globally. This transition from his high-profile regulatory role to private practice is likely to have lasting implications, particularly on the SEC’s enforcement strategy in the crypto sector.

Warning Against The Imminent Danger of Pig Butchering For The Dawning Cyber Society!

Pig butchering scams are a devastating form of cybercrime that blend romance and investment fraud, leaving victims emotionally and financially shattered. These sophisticated operations, run by organized crime syndicates, often exploit human trafficking victims as unwilling scammers. The perpetrators meticulously cultivate trust over months, luring targets into fraudulent cryptocurrency investments through fake platforms.

MLM Schemes

Latest Arrests in $4 Billion Forex AI Fraud Scheme OmegaPro and the Austrian Connection!

FinTelegram has reported on the fraudulent crypto MLM schemes OMNIA Tech and OmegaPro several times in the past. This week, various media outlets have reported the arrest of Robert Velghe in Turkey, who has played a crucial role in both scams. The OmegaPro MLM scam is believed to have stolen around $4 billion from victims worldwide. Here is our update with a request for additional information from whistleblowers.

Crypto MLM Scam: David Carmona Sentenced to 121 Months for IcomTech Crypto Ponzi Scheme!

iComTech was one of the numerous fraudulent MLM schemes that used cryptocurrencies as a means of fraud in parallel with the crypto hype of 2017/18. David Carmora started IcomTech in approximately 2018 with other co-conspirators as a purported cryptocurrency mining and trading company. The scheme promised to earn its victims high profits and guaranteed daily returns that would double their money within six months.