Overview of the iPayTotal Meltdown
In February 2022, court-appointed Joint Liquidators filed a progress report shedding light on the extensive losses tied to the downfall of iPayTotal, a well-known high-risk payment processor. The report provides insight into the network of entities involved and the scale of financial harm caused. So far, thirteen creditors have been identified, with seven submitting claims totaling around GBP 1.1 million (approximately $1.4 million USD). However, these claims likely represent just a fraction of the true losses. Many of the affected merchants, whose payments were routed through various entities in the iPayTotal ecosystem, are still unaccounted for—suggesting that the total financial damage may run into many millions.
Key Data Summary
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Category |
Details |
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Primary Brand |
iPayTotal |
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Associated Brands |
OctaPay, CryptoMatix, PayoMatix, BitMatix, Kryptova, Paypound |
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Main Domains |
www.ipaytotal.com, www.ipaytotal.global, www.ipaytotal.solutions, www.ipaytotal.group |
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www.cryptomatix.io, www.kryptova.biz, www.kryptova.global, www.payomatix.com |
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www.octapay.net, www.octaypay.fund, www.octapay.tech, www.octapay.com.br |
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Related Companies |
iPayTotal Ltd (UK – in liquidation), iPaySolutions Ltd (UK – in liquidation) |
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IPT – Solutions PT (Portugal), iPayTotal UÜ (Estonia), iPayTotal Group UAB (Lithuania) |
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iPayTotal LLC (Delaware), Bitmatix Io Pvt Ltd (India), Payomatix Technologies Pvt Ltd (India) (company data on zaubacorp.com) |
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Kryptova Biz Ltd (UK), Self Pay IO Ltd (UK) |
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Individuals Involved |
Ruchi Rathor (India), Anurag Pratap Singh (India), Anirudh Pratap Singh Rathor (India) |
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Madhumita Singh (UK), Aditya Williams (India), Sen Kugan, Chhavi Mishra (India) |
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Ola Daniel (US), Oluwole Ogunlade (Nigeria), Varun Malhotra (India), Harshit Verma (India) |
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Paul Walker (UK), and others |
Liquidation Report Findings
The report also highlights an alarming lack of cooperation from iPayTotal’s former directors. Anurag Pratap Singh, named as one of the key architects behind the group alongside Ruchi Rathor, failed to show up for scheduled meetings and a court-mandated public hearing. Authorities have been unable to trace his whereabouts. As of the latest filing, no funds are available to cover the GBP 1.1 million in creditor claims.
Despite the UK-based companies entering liquidation, other affiliated legal entities in countries such as Estonia, Lithuania, Portugal, and India continue to operate. Meanwhile, Senthooran Kuganathan (aka Sen Kugan), who served as the last director of UK operations, has also disappeared from the public eye—deleting his LinkedIn profile along with Ruchi Rathor and other key personnel.
The Shift to New Ventures
Following the collapse, the same team—including Ruchi Rathor, Anurag Pratap Singh, and Anirudh Pratap Singh Rathor—restructured their operations. They launched new payment processing outfits such as PayoMatix, CryptoMatix, and Kryptova. These companies are linked to the Portuguese-registered IPT Solutions PT, India’s Payomatix Technologies Pvt Ltd, and the UK-based Kryptova Biz Ltd. Notably, the design of Kryptova’s website bears a striking resemblance to earlier iPayTotal sites, suggesting continuity in branding and business practices.
Though Rathor’s LinkedIn account was removed, she remains active on Twitter (@ruchi_rathor), branding herself as the founder of Payomatix and referring to herself as a “payments ninja.”
How You Can Help
If you have knowledge regarding the current activities or whereabouts of Ruchi Rathor, Anurag Pratap Singh, or Anirudh Pratap Singh Rathor, particularly in connection to their payment ventures, please consider submitting information through the Scam-Or Project’s secure whistleblower section.