THE MEXC SHADOW RAIL: Finetix, Paytend Europe, and the Romanian-Lithuanian Obfuscation Network

Ben
Sat, 14 Feb 2026 18:39:33 +0000
FinTelegram, MEXC, MEXC Global, Paytend Europe

Investigative forensics have unmasked the sophisticated “shadow rail” powering the Euro-denominated on-ramps for the globally blacklisted exchange MEXC. By deploying a complex layering strategy across Romania and Lithuania, MEXC avoids regulatory scrutiny and banking blocks, utilizing a “ghost” payment gateway that effectively launders the identity of the merchant from the financial system.

The Anatomy of Deception

While regulators across Europe issue warnings against MEXC Global, the exchange continues to process millions in Euro deposits via its “mutated” mirror domain, MEXC.co and its main domain MEXC.com. One rail behind this bypass is the Romanian Finetix Ltd S.R.L. via the Lithuanian Paytend Europe UAB. By using a Romanian shell company as the payee and a Lithuanian EMI for the banking pipes, MEXC ensures that bank compliance systems remain blind to the destination of the funds.

Forensic Compliance & Risk Analysis

1. The “Ghost” Payee: Finetix Limited S.R.L.

When a registered MEXC user initiates a bank transfer, they are directed to send funds not to MEXC, but to Finetix Ltd S.R.L. aka Finetix Limited S.R.L. This entity, registered in Bucharest, Romania (Strada BUZESTI, Nr. 75-77), is a not registered or regulated Romanian crypto service provider and serves as a contractual shield.

It is a standard limited liability company with no financial or crypto license. Its primary purpose is to act as the “Merchant of Record,” ensuring the name “MEXC” never appears on a user’s bank statement. Based on

the wording on the MEXC website,

the processes as well as look and feel of both websites,

we assume that Finetix is closely affiliated with or controlled by MEXC. We also found that the Finetix website (www.finetix.net) does not work. Officially, the website offers the purchase of crypto. However, in our review, it was not possible to register or complete a transaction. It is very obvious that the website is just a front for MEXC.

2. The Financial Pipe: Paytend Europe UAB

The actual funds land in a Lithuanian IBAN (LT48 3120 0108 5320 6016) held at Paytend Europe UAB. Paytend, a licensed Electronic Money Institution (EMI) in Lithuania, provides the virtual IBAN (vIBAN) infrastructure. Curiously, the payment instructions list the “bank address” as the Romanian office of the payee, a highly irregular practice designed to confuse automated AML triggers that look for jurisdictional consistency.

3. The Anatomy of the Shadow Flow

Our forensic investigation into the specific payment instructions (IBAN LT483120010853206016) reveals a deliberate “Triple-Masking” strategy:

The Address Deception: In a highly irregular move, the payment instructions list the Romanian address (Strada BUZESTI, Nr. 75-77) as the “Bank Address” for a Lithuanian IBAN. This is a classic tactic to confuse automated AML filters that would otherwise flag a cross-border mismatch between a Romanian payee and a Lithuanian bank (Note: This address is a high-density “virtual office” hub often used by fintech and IT services firms.)

The Romanian Shell: The payee is Finetix Limited S.R.L., registered in Bucharest. This is a standard commercial entity with zero financial or crypto-asset licenses. It acts as a “Merchant of Record” to hide the name “MEXC” from bank audits.

The Lithuanian Pipe: The funds land at Paytend Europe UAB, a Lithuanian Electronic Money Institution (EMI). Paytend provides the IBAN, but importantly, Paytend is not a crypto exchange. It is a bank-like entity being used as a blind passthrough.

Compliance & Risk Analysis

Verdict: CRITICAL RISK (BLACK)

There is no registered VASP (Virtual Currency Exchange Operator) in this transaction chain. Users are sending money to a Romanian IT shell which then presumably funnels the liquidity to MEXC’s offshore accounts.

Component | Entity | Role | Status
Brand | MEXC | The public interface. | High Risk

Contractual Payee

Finetix Limited S.R.L.

Romanian Shell (Bucharest)
Payee for Deposits

Unlicensed

Financial Rail

Paytend Europe UAB
(www.finetix.net)

Lithuanian EMI (Vilnius)
IBAN provider

Intermediary

Crypto License | NONE | Missing VASP Anchor | CRITICAL FAILURE

Export to Sheets

The Trap: Registered MEXC users believe they are utilizing a “secure” EU bank transfer. In reality, they are participating in an unregulated “shadow settlement” that has no consumer protection, no insurance, and no MiCA compliance.

Risk Verdict: CRITICAL (RED)

The Finetix-MEXC partnership is a textbook example of Transaction Masking. By decoupling the brand (MEXC) from the payee (Finetix) and the bank (Paytend), the group facilitates unlicensed financial services to EU residents. Under the MiCA 2026 framework, such “shadow rails” are illegal and subject to severe penalties for both the exchange and the facilitators.

Whistle42 Call to Action

Insiders at Finetix Limited S.R.L. or MEXC are encouraged to come forward. We are seeking internal documentation from Paytend Europe compliance officers or Finetix Limited S.R.L. employees.

What is the volume of “Digital Asset Purchase” traffic moving through IBAN LT483120010853206016?

Who is the ultimate beneficial owner (UBO) of the Romanian shell?