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Investor Warning – CryptopMarket with WNI Media, Melbar, and MelGreg

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The days of binary options scams are over after the ban in most jurisdictions. Now the scammers are betting on CFDs and cryptocurrencies. In the binary options era between 2012 and 2018, hundreds of boiler rooms have emerged that now have to sell other scam offers to retail investors. The boiler rooms of WNI Media DOO, registered in Belgrade, sell the scam products of CryptopMarket aka CM CryptoMarket. Financial market regulators have already warned of the crypto forex scam. FinTelegram uncovers the scam and its perpetrators.

Multi-jurisdictional configuration

Michael Moreli and CryptopMarket scamAs usual, the CryptopMarket (aka CM CryptoMarket) scam is configured around a domain (www.cryptopmarket.com) with legal entities across at least six jurisdictions to prevent law enforcement from efficient investigations and the respective prosecution. The scam’s boiler room facilities are located in Belgrade, Serbia, and are operated by WNI Media DOO. According to the information available to FinTelegram, the scam’s beneficial owners are the Israelis Omer Horowitz and Ben Levov, both from Israel.

The guy in charge for the Belgrade boiler room operations is the Israeli Michael Moreli aka Bruno Adler. The 35-year old Israeli commutes between Belgrade and Tel Aviv where he lives with his family. He is just one of the thousands of commuters between Tel Aviv and Belgrade.

Name or brand Jurisdiction Function
CryptopMarket,
CM CryptoMarket
Web Tading Styles, Domain www.cryptopmarket.com
Omer Horowitz Israel Beneficial Owner
Ben Levov Israel Beneficial Owner
Michel Moreli
aka Bruno Adler
Israel, Serbia Boiler Room Manager for retention services
Shmuel Gotlib Israel, Serbia Nominee Director WNI Media and MelGrade Services
Melbar Media Ltd Marshall Islands (RMI) Offshore entity & website owner/operator
MelGreg Services OÜ Estonia EU entity & Merchant registrant
WNI Media DOO Beograd Serbia Boiler Room operator
VoguePay Nigeria, UK Payment Services
Vload Poland, Mauritius, US Payment Services

In May 2019, the Spanish regulator CNMV issued an investor warning against the CryptopMarket scam and its entities.

According to ScamBroker, CryptopMarket works with the web-based TraderSoft trading platform and offers CFDs, Cryptocurrencies, and simplified Forex trading. ScamBroker, TrustPilot, ForexBrokerz, and other review and rating platforms have warned against CryptopMarket and/or qualified it as a scam.

Payment Services

The scam’s payment facilitators are VoguePay, a Nigerian company with an office in London, and the eVoucher provider Vload. The scam’s retention manager Michael Moreli, however, prefers to receive client-victims deposits via crypto.

Vload is a product of Global Primex Limited, a company registered on Mauritius, which claims to be a “fusion of fintech and regtech.” Interesthing though, that a broker scam is actually able to use their eVouchers, isn’t it?

In the FinTelegram review, we learned that VoguePay accepted the scam’s Estonian entity MelGreg Services OÜ as a merchant and facilitates client-victims’ payments via this entity.

Report to FinTelegram

In case you are a client-victim of the CryptopMarket scheme and/or have additional information on it or its perpetrators we would ask you to share it with our FinTelegram Research Team via our whistleblower system.

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