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EFRI Update: New connections between Tradorax, KayaFX and KontoFX and another Marshall Islands scam can be learned tomorrow on FinTelegram News. Stay tuned.
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The connections between Tradorax, KayaFX and KontoFX and another Marshall Islands scam can be learned tomorrow on FinTelegram News. Stay tuned.
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European law enforcement action crushed Tradorax, KayaFX, and LibraMarkets scam network
The German law enforcement team in Koblenz, together with Europol and Eurojust and the support of their fellow agencies in Spain, Bulgaria, and Israel, evidently crushed the cybercrime network related to Tradorax, KayaFX, and LibraMarkets. Europol reported the action but remained silent about the targets. FinTelegram learned that the targets had been the boiler rooms, illegal payment processors, and beneficial owners connected to this cybercrime network.
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KayaFX legacy – amidst law enforcement actions websites went offline
The KayaFX broker scam was one of the biggest scam brands in Europe in the binary options era. Tens of thousands of victims probably lost tens of millions of euros to the scam. Among them were many Spanish victims. Hence, Spanish law enforcement authorities have been investigating KayaFX, related brands such as WDC Markets, GrandeFX, Grandefex, Libra Markets, the involved boiler rooms, and facilitating payment processors since as early as 2018. Recently, most of the websites went offline amidst law enforcement action in different jurisdictions.