A few weeks ago, we warned against the broker scam Tradixa, operating with www.tradixa.com, www.tradixa.live, www.tradi-xa.com, www.tradixas.com, and www.tradixa.net. The latter is the currently active domain of the scam allegedly operated by Tradixa Ltd, St. Vincent & the Grenadines, and All Media EOOD, Bulgaria. The facilitating payment processors back then have been Praxis Cashier and ePay. While Praxis Cashier evidently terminated Tradixa, we have been able to establish that Estonian-Slovakian Jubiter and Spanish Paysend also facilitated the broker scam.
Tradixa is operated as a white-label implementation on the PandaTS network (read the report here). Until February 2021, Jubiter Technologies OÜ d/b/a Jubiter (www.jubiter.com) had a crypto payment processor license issued by the Estonian FIU. The license was terminated for unknown reasons. The Jubiter website is now operated by the Slovak Global DLT Exchange S.R.O., which reportedly has a license from the Slovak FIU with license number OU-BA-OZP1-2021/000409-5.
Jubiter Technologies used to maintain a bank account with the licensed Spanish payment processor Easy Payment and Finance, EP, S.A. d/b/a Paysend (www.paysend.com) with IBAN GB54PAED00995871099626. Jubiter used this bank account to process payments from victims of the Tradixa scam at least until the end of 2020.
Tradixa victims were instructed to process deposits via bank transfer or credit and debit cards through Jubiter. There, FIAT deposits were converted into cryptocurrencies and automatically forwarded to Tradixa wallets. This is proven by the documents available to FinTelegram.
The Compliance Issue
Amazingly, Jubiter and Paysend accepted the Tradixa scam in the first place. The financial market regulators of Spain (here), Italy (here), the United Kingdom (here), and Austria (here) have already issued public investor warnings since February 2020. In this respect, any halfway competent compliance department should have reported the transactions as Suspicious Activity Report (SAR) or Suspicious Transaction Report (SRT) to the relevant regulator. We do not know whether Jubiter’s scam support was the reason for the termination of its license in Estonia. Now the Slovakian FIU has to act as the competent regulator at the Global DLT Exchange.