Amit Klatchko | FinTelegram News

Tag: Amit Klatchko

November 18, 2021

Attention! Offshore brokers NewFX and DB Investing still attacking European victims

On 9 August 2021, the Spanish regulator CNMV issued an investor warning against the unauthorized broker NewFX. The scam's website provides different legal entities as the operators: NEWFX Limited and Big Horizons Limited. The CNMV has additionally identified DBFX Limited, which also operates the DBFX Trades, which the Italian Consob blocked in October 2020. NewFX is part of the Capital Solutions group of Gennaro Lanzer. Praxis Cashier has facilitated this group of scams, as we established in today's review.

October 26, 2021

R4I – Let us learn more about secretive crypto payment processor Coinsxo!

Recently, we noticed the Coinsxo crypto payment processor in IGC Markets 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. But we may be wrong at this point. Thus, we ask you to feed us additional information on Coinsxo.

September 8, 2021

Investor attention! Don’t fall for the CoinsBanking scam facilitated by Praxis Cashier

The fraudulent Profit Maximizer (https://the-profitmaximizer.com) campaign today promotes the CoinsBanking broker scam (www.coinsbanking.com). Anyone registering with the campaign is automatically registered as a future victim at CoinsBanking and redirected to the scam's payment page. There we meet Praxis Cashier to lose our money via credit and debit card payments. Coinswitch Ltd, registered in the Commonwealth of Dominica, is stated as the operator of the scam. The scam attacks in English, German, and Arabic.

September 5, 2021

More victim complaints against the Infinitrade scam and Paytah

In May 2020, the UK FCA issued an investor warning against the Infinitrade (www.infinitrade.com and www.infinitrade.io) broker scam, operated by offshore entity A&E Products Ltd. The scam has been facilitated by payment processors Praxis Cashier System Ltd d/b/a Praxis Cashier, Phoenix Payments Ltd d/b/a Paytah, and Finligue Grupp OÜ d/b/a Crypto1. The Maltese regulator MFSA has received complaints from victims about Paytah and its scam clients. Despite FCA's warning, PayTah and Crypto1 have continued to support the Infinitrade scam.

August 24, 2021

Investor warning against broker scam InvCenter facilitated by Praxis Cashier

The Austrian Financial Market Authority (FMA) has recently issued an investor warning against the InvCenter broker scam (www.invcenter.com). The scam operator is allegedly St. Vincent and the Grenadines-registered Advanced Software Solutions Ltd. As a payment processor, we have once again found Israeli Cypriot Praxis Cashier by Amit Klatchko in our review. A year ago, in July 2020, the UK Financial Conduct Authority (FCA) warned against the scam, but Praxis Cashier is unimpressed. Stay far away from InvCenter and Praxis Cashier.

August 11, 2021

Investor warning against NewFX and DBinvesting facilitated by Praxis Cashier

Spanish CNMV has recently issued an investor warning against the unauthorized broker NewFX, which actually a scam. The broker's website provides different companies as the operators. There is NEWFX Limited and then BIG HORIZONS Limited. The CNMV has also identified DBFX Limited as one of the operators. This very legal entity also operated the DBFXtrades scam, which the Italian Consob blocked in October 2020. These scams have been and still are facilitated by Praxis Cashier.

July 27, 2021

Still active! UK FCA warns against Gloffix scam

We have already warned several times in the last months against the Gloffix broker scam, which is active with the domain www.gloffix.com. Now the UK Financial Conduct Authority (FCA) also issued an investor warning against Gloffix. Advaniq Ltd, registered in the Marshall Islands, allegedly operates the scam. The Bulgarian Key Solutions Ltd is the stated payment agent. The broker works with the Sirix Trader platform and MetaTrader 4.

July 9, 2021

BitcoinX fraud campaign chases victims for ProfitsTrade facilitated by Praxis Cashier

Today we found a new, at least for us, fraudulent marketing campaign in which Elon Musk promotes crypto for getting rich quickly. The "BitcoinX - The Elon Musk Effect" presented in a fake Wall Street Journal campaign on the ElectLinks site (https://electlinks.biz/em-effect), which is run by Post Affiliate Pro (www.postaffiliate.pro) by Quality Unit s.r.o. in Bratislava. Today, the campaign promotes the ProfitsTrade scam facilitated by Praxis Cashier.

July 7, 2021

Investor Warning – Cryptrader broker scam facilitated by PayWize

Limassol is firmly in the hands of Israeli FinTech entrepreneurs. Without them, CySEC would probably be bankrupt tomorrow, and Cyprus would lose its main source of revenue. This includes the official fees that CIFs have to pay and the penalties that these CIFs have to pay frequently. They flow into the state budget. However, there is fierce competition within the Israeli FinTech community, such as between Ran Cohen and his BridgerPay and Amit Klatchko and his Praxis Cashier. We discovered both along with PayWize as payment facilitators in the Cryptrader scam.

June 23, 2021

Plutus Racket Update – German BaFin launched investigations

German regulator BaFin today announced investigations into Plutus Racket. BaFin is unfortunately not known for being particularly active or competent but at least it is a first step in the fight against this racket. The Plutus Racket is the operator of a vast network of scams such as Plutus, PlutusPro, Lucrum, LucrumPro, Galore, or Celox. The racket and its scams are facilitated by several payment processors like Praxis Cashier, BitTheBank, XChangePro, and Polish Sales Master Z.O.O. Behind all these scam brands are the same boiler rooms in Bulgaria and the Balkans.

June 11, 2021

Investor warning against Triton Markets facilitated by Praxis Cashier

Like on any other day, today, we have received more than a dozen emails from fraudulent marketing campaigns that are on the catch for victims of various scams. One email leads us (once again) to the already known scam campaigns Bitcoin Prime and Bitcoin Champion. From there, we are directed to the still active broker scam Triton Markets (www.tritonmarkets.com) a/k/a Triton Capital Markets. Surprise, Praxis Cashier is still active as a payment processor, although there have been warnings against this scam for months.

May 3, 2021

Investor Warning – Celox is another broker scam in the Plutus Racket

We have reported about Plutus Racket scams several times in the last few weeks. So far, thanks to our whistleblowers and with the information provided by victims, we have found the scam brands Plutus, Lucrum, and Galore. Apparently, the Celox (www.celox.live) scam also belongs to Plutus Racket. Furthermore, we have discovered Praxis Cashier, BitTheBank, XChangePro, and Polish Sales Master Z.O.O. as facilitating payment processors. Behind all these scam brands are the same boiler rooms in Bulgaria and the Balkans working with Anydesk.