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Tag: SwiftXChange

March 20, 2021

WorldMarkets Scam – BaFin’s Cease and Desist Order against illegal payment processor is final

The truth is, the WorldMarkets broker scam already collapsed into a Zombie. It has been active since 2019, harming tens of thousands of customers. The scam cooperated with illegal payment processors in a wide range of jurisdictions. A Cease-and-Desist Order issued by the German BaFin against the illegal payment processor FAD Berlin Consult UG just became final. Crypto partner SwiftXChange already closed down in October 2020.

December 3, 2020

WorldMarkets Scheme – Still no payouts while SwiftXChange ceased activities

There is no doubt! WorldMarkets was and is a highly toxic scam that has very cleverly sold itself to investors via active reputation management. Recently we had a discussion with TrustPilot about our scam warning on the review platform. The already reported problems with payouts persist while announced payment partner SwiftXChange ceased its trading activities.

December 3, 2020

WorldMarkets Scheme – Still no payouts while SwiftXChange ceased activities

WorldMarkets

November 4, 2020

WorldMarkets Scheme Update – Liquidity issues with SwiftXChange partner

The WorldMarkets scheme apparently has new problems with the withdrawals. A few days ago, customers were notified by email that they had problems with payouts. The new payment processing partner SwiftXChange and/or crypto exchange OkEx would be to blame withdrawal issues due to liquidity issues. Regulators of different jurisdictions as well as FinTelegram have warned several times about the WorldMarkets scheme.

Breaking: The Binance-Like $3.1 Billion Money Laundering Settlement of TD Bank!

TD Bank, one of North America's largest financial institutions, has been hit with a historic $3.1 billion settlement over money laundering violations. This case represents one of the most significant AML enforcement actions in U.S. history, both in terms of the financial penalties imposed and the severity of the admitted misconduct. Only Binance, with its $4.1 billion settlement, was even larger.

Gotbit and Russian Executives Charged by U.S. DOJ and SEC for Crypto Market Manipulation!

Gotbit Consulting LLC, along with its Russian executives, has been charged by the U.S. DOJ and SEC for its role in a widespread market manipulation scheme. By using wash trades, Gotbit inflated crypto asset prices and volumes, deceiving investors and raising millions in illicit profits. The company’s fraudulent activities were executed across multiple jurisdictions, with key figures now facing extradition and prosecution.

SEC Charges Market Manipulators in Crackdown on Crypto Asset Fraud

The U.S. SEC has charged three market makers and nine individuals for manipulating the crypto asset market, generating artificial trading volumes and misleading retail investors. The fraudulent schemes created the illusion of active markets, prompting unsuspecting investors to pour money into manipulated crypto assets. The DOJ filed criminal charges against the scheme operators in a parallel transaction.

U.S. DOJ Charges 18 Individuals and Entities in Global Crypto Fraud Crackdown!

The U.S. DOJ has charged 18 individuals and entities in an international operation targeting market manipulation and fraud in the crypto industry. The defendants, including market makers and token promoters, are accused of using wash trading and false trading activity to deceive retail investors and artificially inflate crypto prices. This is the first major criminal case of its kind in the crypto market.

Crypto Exchange Crypto.com Sues US SEC Over Regulatory Overreach!

Crypto.com, the Singapore-based crypto exchange with more than 100 million users, has filed a lawsuit against the SEC, challenging the regulator’s authority over crypto assets and accusing it of overstepping its jurisdiction. The lawsuit comes after a Wells notice was issued to the platform, signaling the SEC’s intent to take enforcement action.