The same boiler room apparently operates the three broker scam brands. Victims report that chat history is shared about at least these three scams. We have already reported about the Plutus scam (here) and the Lucrum scam (here). The Galore scam (www.galore.pro) is allegedly operated by ITM Solutions LLC, registered in St. Vincent and the Grenadines. This entity also operates the Plutus scam. The offshore entity behind the Lucrum scam is Econdary LLC, also registered in SVG. On two BTC addresses, we have discovered a total of barely BTC58 worth more than $3.3M.
The stolen millions
In total, several hundred if not thousands of victims may have fallen for the scam. On the two Bitcoin addresses discovered so far, 16PdoBy7g5BnEKmuzM2emD9wSQisfMrRH7 and 181n6Bo976dLUiqZDQXzfkjb4aswWEn6xt, more than 250 deposits have been made in total. The BTC58 transferred to these wallets is worth more than $3.3 million at today’s BTC price of just under $58,000.
In addition to the two BTC addresses, we have also discovered three payment processors that facilitated these scams in recent reviews:
- BitTheBank (www.bitthebank.com), operated by the licensed Estonian crypto payment processor Lipan Services OÜ,
- XChangePro (www.xchangepro.net), operated by the licensed Estonian crypto payment processor BlueData OÜ,
- the illegal Polish payment processor Sales Master z.o.o. d/b/a Varifolio.
These payment processors have all the information to establish the identity of their scam clients. They also have the legal responsibility to return the illegally obtained funds to the victims.
Preliminary conclusion
From the information available at this point, we can assume that.
- this cybercrime organization and its boiler rooms have been running and/or will be running more scam brands,
- that there are more wallets to which the victims of the scam have deposited, and
- that, also, deposits have been made via bank transfer and credit card.
We estimate that this cybercrime organization has stolen between $20 – 40 million from investors in Europe with its scams. This very rough estimate is based on our experience.
If you have any information about these scams, related scam brands and companies, and the people behind them, we would be happy if you share it with us.
