Introduction Dear YoBit Crypto Exchange users, We would like to share with you an unpleasant experience reported by one of Scam-Or Project’s readers involving YoBit Crypto Exchange. Due to this incident, we do not recommend using this platform for cryptocurrency transactions. Background of the User One reader registered on YoBit back in 2016 and was an active user, regularly performing numerous transactions. Occasionally, he participated in the DICE game, which was a requirement by the exchange for receiving tokens of new cryptocurrencies first listed on YoBit. His bets in the dice game were consistently minimal, ranging from 0.001 BTC to…
Author: Tom
Overview of AGKapital and AlgofGain Currently, two interconnected broker scams, AGKapital (www.agkapital.com) and AlgofGain (www.algofgain.com), are actively promoted through deceptive marketing campaigns. What sets these scams apart is their use of the BoxiPay Cashier (operated by PayBox) alongside a common group of payment processors. These include known high-risk processors like iPayTotal, NeoBanQ, and PayCent, as well as others such as Turkish RHG Partners, Bitngo, and ikajo. Both scams claim on their websites to operate under Estonian jurisdiction, and many of their payment partners indeed hold Estonian registrations. Payment Processors Facilitating These Scams The list of payment processors supporting AGKapital and…
General Description Apollo Finances operates as an offshore brokerage service, presented under the domains: www.apollofinances.com www.apolofinance.com According to information available on their websites, the business is managed by MGX Consalt Group Ltd, which is registered in the Marshall Islands. Details published by the broker indicate this as their main operational entity. Payment Processors Involved Payment transactions for Apollo Finances are facilitated by several companies, including PayTechno, a provider associated with Asaf Itzak Rubin from Israel. This processor lists MGX Consalt Group Ltd as one of its merchants. Additionally, two other payment services, iPayTotal and NeoBanQ, have been identified as supporting…
iPayTotal Ceases Business Activities iPayTotal, widely regarded as one of the most controversial high-risk payment processors, appears to have shut down permanently. This information is displayed on the website www.ipaytotal.com, operated by the British-Indian venture. This closure is not unexpected. Back in November 2020, the UK High Court of Justice ordered the dissolution of iPayTotal Ltd. Following this, the business operations were transferred to iPaySolutions Ltd., with Sen Kugan (also known as Senthooran Kuganathan) appointed as director and registered as the beneficial owner. Now, it seems the company is finally ending its journey, leaving numerous high-risk merchants anticipating their unpaid…
Whistleblower Acknowledgment Credits to Whistleblowers: We extend our appreciation to all whistleblowers who provide crucial insights that help uncover fraudulent schemes and their payment facilitators. Collectively, we strengthen cybersecurity by exposing such operations. The iPayTotal and OctaPay Legacy Many merchants operating in high-risk sectors still recall the Indian-British processors iPayTotal and OctaPay, both of which abruptly disappeared some months ago. Scam-Or Project previously reported on their activities. Information suggests that these companies exploited numerous merchants, including scam operators and cybercriminals who had already illicitly obtained funds. Now, according to whistleblower claims, Paypound has emerged as a potential successor to iPayTotal…
Overview of Crystal Ball Markets Scam In March 2021, Scam-Or Project issued a warning regarding the broker scam Crystal Ball Markets (www.crystalballmarkets.com), which predominantly targets users through Instagram and other social media platforms. This fraudulent operation is run by Crystal Ball Markets LLC, a company incorporated in January 2020 under registration number 262. The offshore firm was established by Wilfred Services Ltd, a company builder known for similar ventures. Changing Payment Processors Since the initial warning in March 2021, there have been notable shifts in the payment methods promoted by Crystal Ball Markets. Previously, iPayTotal served as their primary payment…
DMCA Complaint Submitted Over Scam Reporting Recently, those behind Apollo Finances and MGX Consalt Group filed a DMCA (Digital Millennium Copyright Act) complaint with Google, objecting to publications exposing their fraudulent activities. They claimed infringement of their rights and requested removal from search results. However, despite their attempt to suppress this information, it remains important to warn the public about these operations. Who Is Behind Apollo Finances? The broker known as Apollo Finances operates through two primary domains: www.apollofinances.com www.apolofinance.com According to its websites, Apollo Finances is operated by MGX Consalt Group Ltd, a company purportedly registered in the Marshall…
German BaFin Initiates Probe into Apollo Finances and Its Operators DMCA Complaint Filed Against Scam-Or Project Reports Recently, individuals connected with Apollo Finances and MGX Consalt Group submitted a Digital Millennium Copyright Act (DMCA) complaint to Google, aiming to remove coverage published by Scam-Or Project. They claimed that their rights had been infringed and requested Google to delist the warnings. Scam-Or Project understands their frustration and, in response, reiterates its public warning. Ongoing Warnings and Regulatory Action Scam-Or Project has repeatedly published warnings regarding Apollo Finances over the past years. Currently, the German regulator BaFin has launched an official investigation…
Background of the JoyTrust Scam On May 14, 2021, Scam-Or Project issued a warning about the fraudulent broker JoyTrust (www.joytrust.net). Following this alert, the German financial regulator BaFin announced an official investigation into JoyTrust and its operator, Top Suite Ltd, which is registered in the United Kingdom. Overview Entity Details Broker JoyTrust Website www.joytrust.net Operator Top Suite Ltd (UK) Director & Owner Natalja Zunda, Latvian, born January 1991 CRM Platform Israeli PROFTIT (www.proftit.com) Payment Processors iPayTotal, NeoBanQ, Praxis Cashier, BridgerPay Scam Operations and Regulatory Violations Based on BaFin’s recent announcement, JoyTrust has been offering German consumers banking and financial services…
Introduction: Fake News, Real Risk This morning, a widespread email campaign targeted German-speaking users, falsely claiming that renowned German singer Lena had discovered a “secret” way to get rich—automated Bitcoin trading. The deceptive story was published on the suspicious website imortalizegrids.com. Embedded within the article are links leading directly to the BITCOIN FAST PROFIT fraudulent investment campaign hosted on updez.com. Anyone who registers on this site is immediately redirected to the payment interface of LPLFinances (www.lplfinances.eu), a crypto broker scam operating under a classic white-label fraud model. Scam Network Structure: LPLFinances and Its Associates LPLFinances is not an isolated fraud.…