Tag: PumaTS

Today, the German regulator BaFin announced an investigation into the Waldex Pro broker scam. There will not be much for the regulator to investigate. The scam's website is already offline; the domain is parked at NameCheap. Silverdale Holdings Ltd on St. Vincent & The Grenadines was the official operator. However, according to German law firm Resch, Waldex Pro has operated through an Estonian company. Waldex Pro was an investment fraud that falls under the jurisdiction of law enforcement agencies.

The UK FCA has issued an investor warning against three forex, CFD, and crypto broker scams Nectac TradeFX (www.nectatradefx.info), Optimal Trade Options (www.optimaltradeoptions.com ), and Fortexo (www.fortexo.co). FinTelegram has issued several warnings against Fortexo, which runs on the PumaTS white-label platform. Read our reports here. The same scammers run Nectac TradeFX and Optimal Trade Options through various offshore and fake entities. Stay far away!

MDX500 (www.mdx500.com) was just down for a while and displayed error message 522. It will not be a surprise if the scam goes offline. They all do aftleverer a few months. However, the boiler rooms and payment processors behind the scams are here to stay. In the case of MDX500, these are the boiler rooms that also run Blackstone500, for example. The Estonian BlueData OÜ operated the scam. Client-victims informed us that withdrawals and tradings had been stopped. Goodbye, money then! Another Estonian scam ripped off investors with Estonian regulators and law enforcement doing nothing.

UK regulator FCA issued a warning against Bitcoin Revolution (www.bitcoinrevolution.org) on December 9, 2020. This website is allegedly operated by Profitoro Ltd and apparently acts as an Introducing Broker (IB) for a number of regulated and unregulated brokers. In our reviews, we were redirected to ForexTB, Horizon Invest, and Trade360 upon registration with Bitcoin Revolution. The registration process with the respective brokers is automatically handled by Bitcoin Revolution.

Octapay Limited was founded on 16 September 2020. According to UK Companies House, the sole director and beneficial owner is Madhumita Singh. The company acts as a payment processor for high-risk merchants in gaming, crypto and forex operating the websites www.octapay.fund. And it seems to be related to iPayTotal.

Josef Zavala is the co-founder of the "global payments and banking platform" Paytopus which allegedly has over 100 partners. Payoptus offers bank account IBAN solutions, card issuing and processing, and crypto solutions. No imprint, names, or legal information is provided on the site. Interestingly, insiders claim that Joseph Zavala is also one of the beneficial owners of the Secure Nordic Payments UAB d/b/a MisterTango, which is regulated in Lithuania.

In the last weeks, we have received hints from customers that crypto trading platforms MarketsPilot and CMarkets Group may be scams. Our checks confirmed this assumption. Both crypto scams are operated by Click World Ltd in the Commonwealth of Dominica is in our opinion a scam. The involvement of Praxis Cashier as payment processors also underlines this. Red Flags everywhere!

The German regulator BaFin has issued two cease-and-desist orders against two well-known scam operators - GreenRiver OÜ, the Estonian operator of the broker scams MorganTrust (www.morgantrust.eu), and the 10CryptoMarket (www.10cryptomarket.com) scam of the Joshua Group. The latter is a Ukrainian operated scam on the notorious PumaTS (Leverate) whitelabel provider against which several other regulators have already issued investor warnings.

The UK regulator FCA has issued an investor warning against the scam broker RoyalStox (www.royalstox.com). This is operated by Marom Partners Limited on St. Vincent and the Grenadines. The scam is part of the Leverate and PumaTS network and connected to their Activ8 trading servers. It’s another full-blown scam from without any special features. The scam works with the payment processors Praxis Chashier and QubePay for crypto payments.

We have received extensive information about the Bulgarian Puma Trading Solutions (aka PumaTS). Like Maor Lahav's Israeli PandaTS, its competitor PumaTS offers a turn-key solution to operators of online brokerage platforms. This includes the provision and setup of the trading software as well as the integration of payment processors and boiler rooms.