German BaFin investigates CRYPTOLICHT and FINANCIAL-EXPERTS broker scams

Austrian FMA warns against WinbitX broker scam
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FinTelegram issued a warning against WinbitX (www.winbitx.com) on 11 June 2021. The UK Financial Conduct Authority (FCA) issued a warning on 30 Sept 2021. In our initial review, we found PayNetEasy and Pay Credits as the scam-facilitating payment processors. The cashier is operated through the domain https://gate.shinepays.com/paynet/. WinbitX is still attacking consumers! In September 2021, the Austrian Financial Market Authority (FMA) issued an investor warning against the scam.

The new domain for the cashier (www.shinepays.com) deployed in the WinbitX scam was only registered in mid-August 2021 via the Bahamas and belongs to PayNetEasy who want to cover their tracks with it. This approach of operating the cashier on separate domains is something we see more often lately.

Over the last couple of weeks, we have exposed Pay Credits (www.pay-credits.com) operated by UK-registered VertexTech Ltd as a scam-facilitating payment processor in several broker scams, such as Invexeo (read this report), Capital of Focus (read this report), or AroxCapital (read this report). The Hungarian citizen Ljudmila Mohacsek is the registered director and beneficial owner of this high-risk payment processor (Companies House).

Do not fall for the WinbitX scam. Please share it with us if you have any information about this scam, its operators, and its facilitators. Use our whistleblower system, Whistle42.