The Swiss regulator FINMA has recently issued an investor warning against the Wellington Holdings scam (www.wellingtonholdings.com). The scam operators do not disclose any information about the legal entity or persons but give Bleicherweg 10 in 8002 Zurich, Switzerland, as the address. This is bullshit, says FINMA. As a payment processor, we again found SysPay, regulated by the Maltese regulator MFSA, in criminal collusion with Coinicash and AdvCash. We also exposed this combination most recently in the Cento GX (www.centogx.com) scam.
Scam-facilitating SysPay
Since we recently exposed SysPay‘s scam-facilitating activities, the MFSA-regulated payment processor has set up the new domain https://sys.gatewayurl.com for its cashier. In addition, SysPay also operates the domain www.syspg.net. We have discovered this funny game with new and changing URLs for their respective cashier a/k/a gateway a/k/a API with other payment processors. Scam-supporting payment processors know exactly that they act illegally and non-compliant and try to hide that. They knowingly and willfully facilitate the fraud on investors.
Coinicash is registered as a merchant with SysPay and is currently very aggressively active as an illegal payment processor for scams. Deposits from victims of scams such as Wellington Holdings or Cento GX are apparently disguised and miscoded as purchases of cryptocurrencies. Coinicash is teaming up with Belize-licensed AdvCash in this regard. In addition to SysPay, Coinicash and AdvCash also use Texcent. In this combination, they support the FinoMarkets scam (find the report here).
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If you have any information about Wellington Holdings, SysPay, Coinicash, AdvCash, and their activities, please share it with our research team through our whistleblower system Whistle42.