Recently, we noticed the Coinsxo crypto payment processor in IGC Markets (www.igcmarkets.com) as a supporting payment processor. There it was integrated into the BoxiPay cashier. On the Coinsxo website (www.coinsxo.com), no information is provided about the operator. However, it is stated that Cyprus is the applicable jurisdiction. Furthermore, Coinsxo looks like it could be a white label solution powered by Coriunder (www.coriunder.com). But we may be wrong at this point. Thus, we ask you to feed us additional information on Coinsxo.
For several years we have been regularly uncovering Cypriot-Israeli gateway operators and payment processors Praxis Cashier of Amit Klatchko and BridgerPay of Ran Cohen supporting scams. In addition, in this dark cyberfinance scene, we also noticed Coriunder, operated by Israeli Elias Saporta (LinkedIn) in Cyprus, which provides white label solutions for other payment processors such as MidPay, Pradexx, or PayoTop.
We are not in the same line as Praxis and Bridger since we do not communicate with merchants. Our clients are the PSPs which we setup a full whitelabel and allow them to operate their activities without our involvement.Elias Saporta’s statement to FinTelegram
We also learned in our review that Coinsxo works with the domain ZCoinPay.com, which it deployed for the checkout at the IGC Markets scam.
It seems that Coinsxo may or may not be a Coriunder white label solution. We would like to know more about the operators of Coinsxo. Therefore we ask for relevant information that can be submitted anonymously via our whistleblower system Whistle42.