Estonian BlueData OÜ d/b/a XChangePro has come to our attention over the past few months as a scam-supporting crypto payment processor. It has supported scams like Plutus, MDX500, or Blackstone500. On its websites www.xchangepro.net and www.exchangepro.eu, XChangePro claims to be a financial institution licensed by the Estonian FIU with license number FVR000146 and Ken Kovask as its only director. In fact, this license is no longer valid as of September 2020. Stay away from XChangePro.
We have information that BlueData is not only active as a scam-facilitating payment processor but also the operator behind the MDX500 and Blackstone500 scams (read the report here).
In our reviews, we noticed that XChangePro and BitTheBank (www.bitthebank.com), operated by FIU-licensed Lipan Services OÜ with license number FVT000374, work with identical applications and workflows. We have discovered both of them as scam facilitators in broker scams several times. In both, the victims’ registration details are automatically taken over by their scam clients. In both, the receiving BTC address (i.e., that of the scammers) is automatically entered when the BTC is purchased. Even the colors and designs of the application are similar for both.
We would not really be surprised if there is a connection between XChangePro and BitTheBank. If you have any information about XChangePro or BitTheBank, we would be grateful if you share it with us.
