German regulator BaFin today announced investigations into Plutus Racket. BaFin is unfortunately not known for being particularly active or competent, but at least it is a first step in the fight against this racket. The Plutus Racket operates a vast network of scams such as Plutus, Plutus Pro, Lucrum, LucrumPro, Galore, or Celox. The racket and its scams are facilitated by several payment processors like BitTheBank, XChangePro, and Polish Sales Master Z.O.O. Behind all these scam brands are the same boiler rooms in Bulgaria and the Balkans working with Anydesk.
Facilitating Payment Processors
The Plutus Racket is massively engaged in cryptocurrencies. For example, in the last few weeks, we have discovered several Bitcoin (BTC) wallets where victims have deposited several million euros in Bitcoins. Furthermore, in our investigations of the Plutus Racket, we have discovered four payment processors that facilitate the scams:
- BitTheBank (www.bitthebank.com), operated by the licensed Estonian crypto payment processor Lipan Services OÜ,
- XChangePro (www.xchangepro.net), operated by the Estonian crypto payment processor BlueData OÜ; the company lost its crypto license in September 2020.
- the illegal Polish payment processor Sales Master z.o.o. d/b/a Varifolio.
Boiler rooms, Anydesk, and white-label providers.
The Plutus Racket scams are powered by the very same boiler rooms in Bulgaria and the Balkans. They are implemented on the technical infrastructure of the same white-label and technology provider. The scams have the same design, and nearly identical procedures, and even the texts on the websites are largely identical. In addition, the boiler room agents work with Anydesk and thus have access to their victims’ computers.
If you have any information about Plutus Racket with its Boiler Rooms and/or the supporting payment processors, please share it with FinTelegram.Report scams and their facilitators.
