This week, the Spanish regulator CNMV issued an investor warning against the broker scam ProfitAssist (www.profitassist.io) allegedly operated by Seabreeze Partners Ltd, which is registered in Roseau Valley in the Commonwealth of Dominica. We have identified the Russian Piastrix and the Lithuanian registered UAB Skylas as payment processors. Potential customer-victims of the scam may also lose their money via cryptocurrency deposits. On one BTC blockchain address alone, we uncovered that victims deposited $12M.
The illegal Lithuanian payment processor
We have already discovered the illegal Lithuanian payment processor Skylas in several scams, including Paragon Finance or FinMax. In the ProfitAssist scam, Skylas works with his bank account at Lithuanian Epayblock (www.epayblock.com), an e-money institution regulated by the Bank of Lithuania under the Authorization Code LB001911. This bank has also appeared in several scams.
Officially, Skylas is an IT and software company and Iurii Egorov its registered director. This is what the company says on its website (www.skylas-it.com). Skylas – as well as other illegal Lithuanian payment processors – send the potential scam victims a fake invoice for alleged services (Download Invoice here), contributing to the fraud and subsequent money laundering. These fake invoices should also be of interest to the tax office in Lithuania.
The Russian Cashier
Through the cashier of Russian Piastrix wind Perfect Money, Ethereum and Tether integrated as payment options.
The crypto millions
However, the ProfitAssist scam also accepts cryptocurrencies directly on its wallets.
More than BTC 214 has been deposited to the BTC address 3MgCrv2omCXNT9xTk3V8zL3SQMdfZfJCYL. That’s just under $12M as of today’s BTC rate of just under $56,000. We already uncovered other crypto wallets and addresses for different cryptocurrencies.
We can assume that this ProfitAssist scam may have stolen well over $20M from the EU victims and laundered it through its payment processors.