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Urgent Warning Against SinaraCorp, BitnextLTD, And Their Cybercrime Network!

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The FinTelegram team investigates most financial regulator alerts in more detail to determine which payment processors and other facilitators are involved and on which platforms the scams are running. This way, we can consistently come up with networks of related scams. The German BaFin has issued a warning against SinaraCorp and the Austrian FMA against BitnexLTD. Both scams are identical and white-label clones from the same cybercrime network that operates dozens of other scams. Some we have already exposed in the past. Here is an update.

Key Data

Trading namesSinaraCorp, BitnextLTD, TrustFina
Cryptansa, SelfKings,
CryptoTradeCorp,
Apex500, CapitalProTrade,
VirginsMarkets, NetWesTrade,
Wontobel, Bontobel
Domainshttps://sinaracorp.com, www.trustfina.com
www.cryptansa.com, www.selfkings.com
httops://cryptotradecorp.co
https://apex-500.com https://apex-500.net,
https://capitalprotrade.com
https://virginsmarkets.com, https://netwestrade.com
https://www.wontobel.com
https://sinaracorp.com, https://bitnexltd.com
Legal entitiesHigh Net Group Ltd (Marshall Islands)
High Wealth Group Ltd (Marshall Islands)
Virgins Markets Pro Global LTD
Bright Space Ltd (UK)
Bitnex LTD (UK)
Mirha Traders UAB (Lithuania)
JurisdictionsUK, Marshall Islands
Seychelles, Lithuania
Support data+44 20 30972365
+49 30408195790
WarningFMA, FSMA, Finantsinspektioon
BaFin, FMA

Short Narrative

SinaraCorp and BitnexLTD are only two brands of a huge cybercrime network

In our review on March 10, 2022, TrustFina, Cryptansa, CryptoTradeCorp, SelfKings, NetWesTrade, and VirginsMarket had already gone offline and vanished at the time of our new review (26 May 2022) with the victims’ money. However, SinaraCorp, Apex500, CapitalProTrade, WonTobel a/k/a Bontobel, and many other yet unidentified scam brands of this cybercrime network are still actively chasing after new victims.

BaFin clarifies that the alleged operator of the SinaraCorp scam, the offshore entity High Wealth Group Ltd registered in the Marshall Islands, has no permission to conduct banking business or provide financial services. The company is not supervised by BaFin and is not affiliated with the supervised company Sinara Financial Corporation (Europe) Ltd.

The Austrian FMA states that Bitnex Ltd in the UK and Mirha Traders UAB in Lithuania would be the operators of the BitnexLTD broker scam. While we have not been able to find Bitnex Ltd in the UK Companies House, we found Mirha Traders UAB in Lithuania (register), which was established in 2020.

The Trustpilot Issue

On Trustpilot, like so many other scammers, Apex500, SinaraCorp, BitnexLTD, and the other scams of this cybercrime network work with 5-star fake reviews to give the impression of respectability to potential victims. Unfortunately, Trustpilot does far too little against fraudulent activities on its platform. But we’ll tell this sad Trustpilot story another time.

Discuss and share

If you have any opinions about our warning, feel free to comment. If you have any information about SinaraCorp, BitnexLTD, and the operating cybercrime organization, please share it with us via our whistleblower system, Whistle42.

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