FinTelegram has warned several times over the last months against the Daxiron broker scam, which is only one of many broker scams running on the Israeli-Cypriot white-label platform PandaTS. Most recently, PandaTS client Gal Barak was sentenced to four years in prison for investment fraud and money laundering. The UK Financial Conduct Authority (FCA) joined FinTelegram in issuing a warning against Daxiron. We understand that law enforcement agencies in various countries investigate PandaTS and its clients. Here is an update!
|Legal entity||Synnfrey Sol Ltd|
|Jurisdiction||Commonwealth of Dominica|
|Payment gateway (Cashier)||Shinepays (https://gate.shinepays.com)|
|Payment processors||Pay Credits (VertexTech Ltd)|
|Warnings||FCA, CNMV, FI Sweden|
The Daxiron scam is allegedly run by the offshore Synnfrey Sol Ltd, registered in the Commonwealth of Dominica in the Caribbean. Like most white-label brokers on the Israeli PandaTS platform, the scam is well done. However, that does not make it legitimate or better. It just makes it harder for investors to spot.
In our initial review, we identified Pay Credits (www.pay-credits.com) as the facilitating payment processor. Upon our reports, Pay Credits vanished. The website was taken offline, its operator, UK-registered VertexTech Ltd, was dissolved via compulsory strike-off in July 2021. The Hungarian citizen Ljudmila Mohacsek used to be the controlling person.
Read more about Ljudmila Mohacsek and her activities here.
Other PandaTS scam clients
DAXIRON is another white-label scam on the Israeli PandaTS platform run by Maor Lahav and Shmuel Gutman. In August 2021, German law enforcement authorities raided PandaTS’ premises in Israel and seized extensive data. Forensic analysis of the seized data is currently ongoing. Investigators expect to obtain comprehensive data and use it against PandaTS’s scam clients. Below is a list of the scams we identified on the PandaTS platform over the last couple of weeks:
- Moneta Markets with www.monetamarkets.com operated by Vantage Global Limited
- DAXIRON with www.daxiron.com operated by Synnfrey Sol Ltd in the Commonwealtch of Dominica
- 7XFX with www.7xfx.com operated by an unknown offshore entity in St. Vincent & The Grenadines
- InvestXE with www.investxe.com operated by InvestXE Capital LLC
- Coinnery with www.coinnery.com operated by Coinnery Ltd
- MargexOnline with www.margexonline.com operated by MargexOnline Ltd
- CryptoFinancial with www.cryptofinancial.live operated by CryptoFinancialINVESTMENT LTD
- FXBitMining with www.fxbitmining.com operated by Vantage International Group Ltd
- FXMarketTrades with www.fxmarketrades.com operated by FXmarkettrades Ltd
- TradeMarketsOption with www.trademarketsoption.live
- PrestoTradeOptions with www.prestotradeoptions.online operated by PrestotradeOptions Investments Ltd
We have already issued a warning against DAXIRON in August 2021. At that time, we revealed that the scam was looking for new victims using Google Ads and fake ads (report here).
If you have any information about Daxiron, PandaTS, or any of the other PandaTS scam clients, please share it with us via our whistleblower system, Whistle42.