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.
As 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 Moreliaka 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.
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.