Tag: WE4BTC

We recently reported that the UK FCA issued an investor warning against the Group 500 scam broker. We have subsequently been contacted by victims of the scam who have provided us with additional information. Around 30 victims who have lost around GPB 1M and their lawyers are pursuing the Group 500 network. The victims have discovered that apparently Genesis11, as well as S J Global Investments Worldwide Limited, Pearlwealth Limited, and other companies, are also part of the scam network. We would like to know more.

We receive several dozen spam emails promising us money, wealth, and success on an average day. At the same time, scammers and their facilitators attack in different countries and language areas with different campaigns and domains. For example, in the UK today, BitcoinUp has been promoting the broker scam Avachoice (www.avachoice.com) through UflySmart. As scam-facilitating payment processors, we discovered Estonian KeyPay Global OÜ d/b/a WE4BTC as well as Viva Wallet with German Primic GmbH.

The UK Financial Conduct Authority (FCA) has issued an investor warning against the broker scam PrimeQX. The scam is operated by PRIME BUSINESS FINANCE LTD and MAGNETITS CAPITAL LTD. The scam claims to be regulated by CySEC with license number 129/22. The scammers operate the fake CySEC site www.cysecgov.com where PrimeQX is falsely presented as a CySEC-approved domain. As the scams payment facilitators, we have discovered iPayTotal, Itez, WE4BTC, and PaymentsPro.

The Italian regulator Consob ordered the blackout of the then GlobalCFD broker scam website in Feb 2021 www.globalcfd.co. A few days ago, the regulator also blocked the scam's new domain www.globalfxcfd.com. The scam is allegedly operated by GlobalCFD Ltd and D&D Venture Project Ltd via the Marshall Islands. As payment processors, we have once again found a few of the usual suspects. Among them the iPayTotal and the crypto payment processors Itez and WE4BTC.