Isunext is the trading style of the crypto payment processor XFinances OÜ, registered and licensed as a crypto payment processor in Estonia by the FIU as the competent regulator. The beneficial owners of XFinances OÜ are the Latvians, Pavels Krasovskis and Rooba Urmas. The company is a part of the so-called Latvian Racket and has facilitated scams like XFinances, eXFinances, or Zurich Invests. For several days now, the company’s website has been unavailable. Visitors receive the error code 523.
Key data
| Trading name | Isunext |
| Business activity | crypto exchange crypto payment processor |
| Domain | https://isunext.com/ |
| Legal entity | XFinances OÜ |
| Related individuals | Pavels Krasovskis (Latvia), born in June 1973 Rooba Urmas (Latvia), born in Oct 1966 |
| Jurisdiction | Estonia |
| Regulator | FIU Estonia |
| Facilitated scams | XFinances, eXFinances, Zurich Invests and other Latvian Racket scams |
XFinances, eXFinances, and Zurich Invests are only three of dozens of scams operated by the many legal entities of the Latvian Racket:
- broker scams XFinances run by Latvian Aleksejs Kohanovs through the UK-registered Finex Group Ltd (see report here) and
- Zurich Invests, run by Latvian Sergejs Iljins via UK-registered ZH Companies Bnk Ltd (Companies House).
The circumstantial evidence suggests that this Latvian group is connected to both the scams and the payment processor Isunext. Let’s call it the “Latvian Racket” for now.
XFinances had a bank account with the Lithuanian e-money institution Epayblock, which had its license revoked by the competent regulator Bank of Lithuania in November 2021. An audit by the regulator revealed that Epayblock had massive money laundering problems. In addition, the regulator stated that Epayblock also appeared to have facilitated illegal transactions.
In addition to XFinances, the regulated crypto payment processor Futurus X OÜ d/b/a MrBit or MisterBit has also facilitated Latvian Racket‘s scams.
Share information
If you have any information about XFinances, Isunext, its operators, and partners, please let us know via our whistleblower system, Whistle42.
