The German BaFin has announced an investigation of PrimeCryptoCapital (www.primecryptocapital.com). The scam works with BoxiPay cashier and has integrated MasterPay a/k/a SecureMasterPay (https://securemasterpay.com), among others, as facilitating payment processors for credit and debit card payments. The scam’s website has apparently been recycled several times. There are various references to operators. On the payment page of SecureMasterPay, an MCI Wealth Management is named as the merchant. We did not find this company!
A weird promotion
The crazy thing about the PrimeCryptoCapital scam is that the website advertises retirement funding and legacy protection. And this is with highly speculative financial instruments like CFDs, Forex, or Crypto. This approach would already be dangerous bullshit without the fraud and scam element.
The recycled website
These odd names of the possible operators are probably due to the multiple recycling of the website. There are always a few name fragments leftover from “search and replace.”
There is no imprint on the website, and no information about the company’s registered office can be found. According to the Terms and Conditions, Estonian law is applicable. The provider refers to itself on the homepage partly as “PrimecryptoCapital,” partly as “BancDeLuxembourg.” In the terms and conditions, reference is made to the fact that “Banc de PrimecryptoCapital (…) is operated under the umbrella of Tradestone Ltd with license number 331/17″. However, the BaFin has no evidence that the platform cooperates with Tradestone Ltd, Limassol, licensed by the Cyprus Securities and Exchange Commission (CySEC).
However, it can be determined from the remaining name parts on the website that PrimeCryptoCapital and BancDeLuxembourg are affiliated scams. The latter has already disappeared.
Scam-facilitator MasterPay
SecureMasterPay is an unregulated offshore payment processor operated by MasterPay Ltd, registered with number 1615. On the website www.securemasterpay.com the Indian Envato IT Outsourcing Pvt. Ltd is also provided as operator and rights holder. MasterPay does not actually have a real website, only a Login Page and a Contact Page. The available languages of the website are English and Russian.
