The Unlikely Connection: News Media, Payment Processing, and Broker Scams
What do Crypto Daily Pte Ltd, Veltyco Group PLC, Uwe Lenhoff, and TradoVest have in common?
At first glance, it may seem like a legitimate crypto news site and an international financial group have little to do with fraudulent online trading platforms. However, closer scrutiny reveals a disturbing link between these entities and a series of large-scale investment scams.
Key Questions That Demand Answers
Despite multiple warnings and regulatory scrutiny, Crypto Daily Pte Ltd, based in Singapore, has continued to receive victim payments for fraudulent broker schemes like TradoVest and XMarkets. This raises a number of critical questions:
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Who truly owns Crypto Daily Pte Ltd?
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Why is this company still allowed to operate as a payment processor for scams?
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How is Crypto Daily able to publish misleading or false information without consequence?
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Why haven’t authorities taken decisive action despite the company’s connections to known fraud rings?
Background: Uwe Lenhoff and Veltyco’s Criminal Footprint
Uwe Lenhoff, now deceased, was the mastermind behind Veltyco Group PLC and several fraudulent trading platforms including Option888, TradoVest, and XMarkets.
These brands operated boiler rooms and illegal broker sites, siphoning millions from unsuspecting retail investors across the EU and beyond. Lenhoff reportedly described Veltyco as a laundering engine—a company used to reclassify fraudulent revenues as legitimate “marketing income.”
Crypto Daily’s Alleged Role in the Scam Ecosystem
Evidence provided by victims and whistleblowers suggests that Crypto Daily Pte Ltd facilitated payments related to TradoVest and XMarkets scams.
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Entity |
Role in Network |
|
Crypto Daily Pte Ltd |
Received and processed scam-related payments in Singapore |
|
Veltyco Group PLC |
Laundering entity for fraudulent broker platform revenue |
|
Uwe Lenhoff (deceased) |
Architect of the scam network |
|
TradoVest / XMarkets |
Scam broker platforms targeting EU investors |
Victims have submitted bank documents and email trails showing that funds were routed through Crypto Daily’s accounts at OCBC Bank in Singapore. These transactions allegedly continued even after the criminal nature of the platforms became public.
Fake News and Reputational Whitewashing
In addition to its payment processing role, Crypto Daily’s media platform is accused of distributing misleading narratives that downplay or obscure the criminal activities of its affiliates. This media manipulation further delays justice for victims and clouds public perception of the fraud.
Regulatory Inaction and Ongoing Damage
Despite mounting evidence and public records linking Crypto Daily Pte Ltd to Veltyco’s criminal network, enforcement actions have been minimal.
This inaction:
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Allows continued victimization through ongoing payment collection
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Undermines trust in legitimate crypto and fintech businesses
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Delays potential restitution and criminal prosecution
Final Thoughts: Demand for Transparency and Action
The time for silence is over. Investors, regulators, and journalists must demand answers. Crypto Daily Pte Ltd’s dual role as a media outlet and financial enabler for broker scams like TradoVest and XMarkets cannot remain unchecked.
📢 Stay tuned for upcoming investigative updates as Scam-Or Project and EFRI continue to pursue justice for victims of Uwe Lenhoff’s vast cybercrime empire.