The Israeli crypto payment processor Oobit Technologies Pte. Ltd d/b/a Oobit announced that it has registered as a digital asset service provider in Italy. This will allow Oobit to offer crypto products and services to its growing customer base in Italy. The payment processor’s Estonian crypto license was archived as of August 3, 2022. Over the last few weeks, we have discovered the licensed Estonian crypto payment processor Oobit as a scam facilitator with the now-vanished broker scams ExpressFX and StakingTrades.
Key data
| Trading name | Oobit |
| Domain | www.oobit.com |
| Legal entities | Oobit Technologies Ptd Ltd, Singapore Oobit Technologies OÜ, Estonia Oobit Technologies UAB, Lithuania Oobit Technologies Inc. (not found) |
| Jurisdictions | Singapore, Estonia Lithuania, Italy |
| Regulators | Financial Crime Investigation Service (FCIS) Lithuania |
| Related individuals | Chairman: Moshe Schlisser (LinkedIn) CEO: Amram Adar (LinkedIn) COO: Aharon Miller (LinkedIn) Olga Shishkina (Nominee Director) |
| Partners | MoonPay, Coinbase et al |
| Facilitated scams | ExpressFX, StakingTrades |
The narrative
Oobit was founded in 2017 as Cryptosys International Ventures Pte Ltd in Singapore and later rebranded into Oobit. They established Oobit Technologies OÜ in Nov 2019 in Estonia and OObit Technologies UAB in Lithuania in 2022.
The two founders are Israelis Amram Adar and Aharon Miller, acting as CEO and COO. The beneficial owners of the group are based in Israel. Olga Shishkina acts as a nominee director of the Estonian entity.
Oobit offers a crypto-based debit card in addition to its crypto exchange and payment services. Furthermore, the venture has launched its own Oobit Token (OBT), which is currently not tradable but can be exchanged for other cryptocurrencies via PancakeSwap and Uniswap.
Oobit seems reputable, unlike most other licensed Estonian crypto payment processors. The website presents the team and the links to the social media presences, an approach you will not find with 90% of all other crypto payment processors. Clients can buy cryptocurrencies from Oobit using credit cards. For this purpose, oobit used to cooperate with MoonPay until recently.
Scam involvement
On a negative note, we found Oobit as a payment facilitator in several broker scams such as ExpressFX (here) or StakingTrades (here). Clients (victims) of these scams were forwarded to oobit for deposits via credit cards. They are supposed to buy cryptocurrencies with credit cards, which are then sent to the scammers’ wallets.
Share information
We would like to know more about Oobit, its operators, and its partners. If you have any information, please share it with us via our whistleblower system, Whistle42.
