Introduction The UK Financial Conduct Authority (FCA) has published an investor warning regarding the fraudulent broker PrimeQX. According to Scam-Or Project, this scam is operated by PRIME BUSINESS FINANCE LTD and MAGNETITS CAPITAL LTD, falsely claiming regulation under CySEC license number 129/22. Fake CySEC Website The scammers run a counterfeit CySEC site at www.cysecgov.com, where PrimeQX is wrongly listed as a CySEC-authorized broker. This deceptive tactic is designed to mislead investors into believing they are dealing with a legitimate, regulated entity. Payment Processors Linked to PrimeQX Investigations have identified several payment processors facilitating transactions for PrimeQX: Payment Facilitator Website Operator…
Author: Tom
Introduction Disclaimer: This warning was initially published on March 17, 2021. Following its publication, Israeli scammers filed a copyright complaint with Google, demanding the removal of the URL from search results. They argued the content had previously appeared on www.diigo.com – a claim we firmly reject. However, scammers will go to any length to erase their traces from public scrutiny. Our legal team has responded to Google accordingly. Given the significance, we are reissuing this warning. Affiliate Email Campaigns by Way 2 Freedom Scam-Or Project regularly receives numerous emails from different addresses promoting so-called risk-free investment opportunities with high returns.…
Introduction Nikolay Udyansky, a Ukrainian tech entrepreneur born in 1983, has developed, acquired, and sold several cryptocurrency exchanges such as Coinsbit, LocalTrade, and QMall. He currently holds the position of Honorary Consul of Romania in Kharkiv. Journalists and blockchain investigators claim he is the concealed founder or beneficial owner of YoBit, an exchange known for its opacity, though the platform remains registered in Panama with nominee directors and has never confirmed its true ownership. The alleged links to YoBit remain disputed, with some investigations naming Russian businessman Pavel Krymov as its original creator. Due to Udyansky’s prominent public image, large…
Introduction Today, we received yet another email promising the secret to earning money quickly. As usual, the link redirected us to either LPONLINE or TopOnTechBiz (www.topontechbiz.com), featuring an article claiming this opportunity is the next giant after Google and Facebook. Redirecting Through Fraudulent Campaigns This affiliate campaign is familiar to us. It guarantees wealth within seven days. Upon attempting to register, we were sent through a sequence of redirects: BitQT Campaign – Hosted on Amazing Offers (www.amazing-offers.online/bitqt) Bitcoin Revolution – (www.the-bitcoin-revolution.deapp.com/funds/) Final Destination – The scam broker RocketChart Such a poorly constructed fraudulent campaign involves four different websites before leading…
Cryptocurrencies and Estonia’s Role For many industry experts, digital currencies represent a significant part of the financial future. In recent months, major online payment platforms such as PayPal have begun accepting bitcoin and other cryptocurrencies. Within Europe, Estonia has emerged as a hub for crypto payment processing firms. By mid-2020, the Estonian FIU had issued over 3,000 licenses for such entities (refer to report). Unfortunately, a considerable number of these companies have been linked to scams, illicit operations, and money laundering schemes. List of Estonian Crypto Payment Processors Connected to Scams Scam-Or Project supports the idea of decentralized and blockchain-based…
Introduction: Scam-Or Project Investor Alert Recently, Scam-Or Project issued an investor warning concerning a deceptive affiliate marketing campaign promoting the fraudulent broker RocketChart. This alert also highlighted the involvement of payment processors iPayTotal and PayTechno in facilitating scam transactions. Copyright Complaint Attempt by Scammers Following the publication, scammers behind RocketChart submitted a copyright infringement complaint to Google, aiming to delist the article from search results. The complaint originated from the UK, filed by Kirsten Turney. According to Scam-Or Project, such actions only prove that the warning reached its target. Their legal team has already responded to this baseless claim, ensuring…
The Unclear Role of Chief Experience Officer The title “Chief Experience Officer” is not widely understood, and until late 2020, we had not encountered it either. In December that year, Davina Mungroo from iPayTotal contacted us regarding articles we had published about the high-risk payment processor. According to information on iPayTotal’s website, her responsibility as Chief Experience Officer was to manage how the company was portrayed in external reviews and reports. Judging by subsequent events, her role must have been demanding, as both Davina and her LinkedIn account have since vanished without a trace. Initial Outreach to Scam-Or Project Davina…
Introduction The controversial British-Indian payment processor iPayTotal, often associated with high-risk industries, has launched CryptoMatix—its newest crypto payment initiative—through its Estonian entity, iPayTotal OÜ. However, the company is currently not authorized by the Estonian Financial Intelligence Unit (FIU) to operate a crypto business. Despite this, the platform is active and appears to be part of a broader strategy to deepen iPayTotal’s involvement in digital assets. Leadership Transition at iPayTotal OÜ From Williams to Sild Up until March 2021, Aditya Williams was listed as the official director of iPayTotal OÜ. He was replaced by Estonian nominee director Monika Sild. Although the…
Background of the Finotive Scam Scam-Or Project has previously issued two warnings concerning the fraudulent broker Finotive (www.finotive.net). The Austrian Financial Market Authority (FMA) has now also released an investor alert against this entity. The scam is reportedly managed by VT Group Ltd, based in Cyprus. Identified Co-Operators and Payment Processors Investigations have revealed that Harmonte Group LLC, registered in St. Vincent and the Grenadines, acts as a co-operator of Finotive. This entity is listed as a merchant with PayTechno. The payment gateways involved include: PayBox (also known as BoxiPay) PayTechno PayCent iPayTotal NeoBanq This reflects a recurring pattern where…
Another fraudulent BitQT campaign targeting unsuspecting users Earlier today, we received another email from [email protected], claiming that our income account had been activated. The provided link once again directed us to the deceptive BitQT campaign hosted on the Amazing Offers platform (www.amazing-offers.online/bitqt). After completing registration, users were immediately forwarded to the payment page of the broker scam JoyTrust (www.joytrust.net), where they were prompted to make a deposit via credit card. We urge readers not to fall victim to these manipulative marketing schemes and scams. Who is behind JoyTrust? The JoyTrust broker scam is reportedly operated by Top Suite Ltd (Companies…