FMA Issues Investor Alert on LCoin Market Scam
The Austrian Financial Market Authority (FMA) has issued a formal investor warning concerning the fraudulent activities of LCoin Market (accessible via www.lcoinmarket.com). This entity is allegedly operated by Triton Partnership Ltd., a company incorporated in St. Vincent and the Grenadines. The scam utilizes the white-label solution of PumaTS and is integrated with the Activ8 trading platform, a product of CySEC-regulated Leverate Financial Services Ltd.
Investigations have linked AtomixPay and iPayTotal as the payment processors facilitating transactions for this illicit broker.
Platform Infrastructure and Scam Credentials
LCoin Market runs on the PumaTS white-label infrastructure, offering its services through the Activ8 trading interface. This specific platform has been previously exploited in a number of scam operations including:
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10Crypto
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Cryptokartal
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i-trade24
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And several others
A Google search for “activ8trader.com” reveals how frequently this domain has been used in association with suspicious or outright fraudulent brokerage schemes.
Many of these operations follow a common playbook associated with PumaTS and often involve Wilfred Services Ltd as the backend facilitator.
Boiler room agents, operating via VoIP using localized phone numbers, contact potential victims. This technique creates the illusion of local presence, tricking individuals into trusting the legitimacy of the broker.
Payment Processing Connections
The AtomixPay brand is operated by Atomix Technologies SRL, a company registered in Romania. Additionally, iPayTotal appears deeply involved in the financial infrastructure of this scam. Entities associated with the iPayTotal network include:
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Company Name |
Jurisdiction |
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iPayTotal LLC |
Delaware, USA |
|
iPaySolutions Ltd |
United Kingdom |
|
Estonia |
The UK branch is reportedly under the management of Sen Kugan, also known as Senthooran Kuganathan, according to public Companies House records.
What to Do If Affected
Anyone who has interacted with LCoin Market or its payment facilitators should report the case to relevant financial authorities and consumer protection agencies. Document all transactions and communications for possible legal proceedings.
Scam-Or Project continues to monitor fraudulent financial schemes and payment facilitators. Stay informed and protect yourself against online investment fraud.