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Tag: PROFTIT

December 13, 2021

Attention! Bitcoin Trader fraud campaign chases victims for BenefFX broker scam!

In our morning roundup today, we discovered that the Bitcoin Trader (www.bitcointrader.site) fraud marketing campaign is hunting potential victims for the BenefFX (www.beneffx.com) broker scam today. The operator of the scam, who bills itself as "being beneficial" is Optium Ltd, registered in the Marshall Islands, and the payment agent is Bulgarian Key Solutions Ltd. We issued an investor warning back in November 2021. Stay far away and save yourself losses and mental issues.

September 21, 2021

Finally! German BaFin investigates JoyTrust broker scam!

We have already issued a warning against JoyTrust on May 14, 2021 (see notice here). The German regulator BaFin has followed our warning and announced investigations against the illegal broker JoyTrust (www.joytrust.net) and its operator, the UK registered Top Suite Ltd. According to our research, the JoyTrust scam has been active since 2020 with various payment processors such as iPayTotal or NeoBanQ. The illegal broker works with the Israeli PROFTIT CRM platform.

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.