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 AlgofGain resembles a directory of high-risk financial services. Below are the payment processors identified as active at the time of review:
|
Processor |
Details |
|
Ikajo |
(www.ikajo.com, www.fxpaymentservices.com) Operated by Ikajo International BV, a Ukrainian high-risk payment processor using a Dutch entity with offices in Kyiv and Amsterdam. |
|
PayCent |
(www.paycent.com) Managed by Texcent Asia Pte Ltd, Singapore. |
|
NeoBanQ |
(www.neobanq.ltd, www.neobanq.global) An unregulated processor operated by UK-registered NeoBanQ Ltd. |
|
BitOfHeaven |
(www.bitofheaven.io) Run by Loyalfinance OÜ (Estonian companies register), licensed by the Estonian FIU. |
|
Bitngo |
(www.bitngo.co) Operated by European Consulting Consultant OÜ (Estonian companies register), holding an FIU license and listed as GrecoPay in the scams’ payment options. |
|
Bitexchain |
(www.bitexchain.com) Managed by CoinFarm OÜ (Estonian companies register) with an FIU license. |
|
Hospic |
(www.hospic.io) |
|
Certus Finance |
(www.certus.finance) Operated by Sreda Monay OÜ (Estonian companies register), licensed by the Estonian FIU. |
|
PaymentsPro |
(www.paymentspro.de) Currently inactive. |
|
Payneteasy |
(www.payneteasy.com) A Russian processor claiming to operate an office in Gibraltar. |
|
RHG Partners |
(www.rhgpartners.com) A Turkish FX service provider and unlicensed payment processor, whose website went under construction after earlier exposure linked to YuanPay scams. |
Jurisdiction and Integration Methods
The payment processor Certus Finance lists AlgofGain as a merchant within both scams. Although no clear legal entity was found for the scam operators, Estonia is consistently presented as their jurisdiction. Given the numerous Estonian entities involved, their connection to Estonia appears substantial.
Integration Models Identified
-
Non-integrated Processors: For services like BitOfHeaven, scam victims must register and complete standard onboarding separately.
-
Deeply Integrated Processors: Others, such as Payneteasy and PaymentsPro, integrate directly with the scams’ BoxiPay Cashier, indicating an existing merchant agreement facilitating smooth transactions within scam operations.
Call to Action
Report broker scams and their payment facilitators to protect other investors.