This Monday, the Italian Consob once more mandated that the websites of five financial service providers who operate unlawfully be blacked down. The fraudulent broker Zurich Invests, purportedly run by BENELUXZURICH, KB ATM MANAGEMENT, Zurich Invests Ltd., and/or ZH COMPANIES BNK Ltd., registered in the UK, is one of the blacked out entities. We have learned about Praxis Cashier and the Estonian MisterBit as payment processors. It appears that the latter is also listed with Praxis Cashier as a vendor accepting debit and credit card payments for the fraudulent Zurich Invests scheme.
ZH COMPANIES BNK Ltd was registered in August 2020 with the UK Companies House. The beneficial owner and director is registered as Sergejs Iljins, a Latvian who was born in April 1984. He is probably a trustee and nominated director for the ultimate beneficial owners. It’s only an educated assumption, though.
The Estonian MisterBit payment processor was previously identified by us as being involved in the BeforexCapital (www.beforexcapital.com) fraud. Click here to read the FinTelegram report. With a useless cryptocurrency licence, Estonian Futurus X OÜ runs the cryptocurrency exchange MisterBit, also known as MrBit (www.misterbit.net). The Estonian operator’s registered directors are Ivan Abramov and Christiano Chiarugi. Praxis Cashier has been integrated with MisterBit.
Amit Klatchko’s Praxis Cashier
Praxis as claimed was established to help all internet businesses reach worldwide scalability and sustainable growth. Praxis claims that they give clients the ability to oversee and improve their international payment procedures with advanced payment orchestration.
Praxis Cashier claims that they support the majority of card issuers and integrate with nearly all PSPs. Praxis Cashier claims to handle payment processing without the need for a third-party processor, unlike other alternatives. As claimed, with the help of this program, one may take payments from any major credit card company and accept a wide range of payment options.
MasterBit
The Estonian Futurus X OÜ, which runs the cryptocurrency exchange MisterBit, also known as MrBit (www.misterbit.net), with a useless crypto licence, is another client of GlobalNetint. Additionally, MisterBit is integrated into Praxis Cashier’s Cashier as a payment processor. The Estonian operator’s registered directors are Ivan Abramov and Christiano Chiarugi.
Cryptocurrency
A digital currency that operates as a means of exchange via a computer network and is not dependent on a central authority—such as a bank or government—is known as a cryptocurrency, crypto-currency, or crypto. It is a decentralised system that removes the need for conventional middlemen, like banks, when transferring money between two entities by confirming that the parties to a transaction actually own the money they say they do.
When Bitcoin was first made available as open-source software in 2009, it was the first cryptocurrency. More than 25,000 other cryptocurrencies were available in the market as of June 2023, with over 40 of them having a market capitalization of $1 billion or more.
Unlike paper money, which exists in tangible form, cryptocurrency is not issued by a central body. Unlike digital currencies issued by central banks, most cryptocurrencies operate under decentralised control (CBDC). Cryptocurrencies are typically regarded as centralised when they are created, minted, or issued by a single issuer. Every cryptocurrency functions via distributed ledger technology, usually a blockchain, which acts as a public record of financial transactions when used in a decentralised manner.
A digital ledger, a computerised database that uses robust cryptography to secure transaction records, regulate the production of new coins, and confirm the transfer of currency ownership, houses individual coin ownership records. Despite their name, cryptocurrencies are not thought of as traditional currencies. Although they have been treated differently, being classified as securities, commodities, and currencies, in reality, they are usually seen as a separate asset class. Validators are used by certain cryptocurrency systems to keep the currency stable. Under a proof-of-stake approach, token owners pledge their holdings as security. They receive control over the token in exchange, proportionate to the amount they stake.Â
What is Bitcoin?
Bitcoin, which was created in 2009 by the enigmatic Satoshi Nakamoto, is recognized as the original cryptocurrency. Bitcoin is a decentralised digital money that can be traded, purchased, and sold without the need for a middleman like a bank. It serves as a medium of trade, a store of value, and a substitute for traditional investments.
Whether you purchase Bitcoin (BTC) in India or any other country, the transaction is verified by a computationally intensive process known as “mining.” In contrast to conventional stock markets, investing in Bitcoin in India offers you the freedom to do so whenever you want. One of the first and best-known cryptocurrencies is Bitcoin, which has become incredibly popular all over the world. It has, nevertheless, also seen notable price swings, which have produced an engrossing tale of ups and downs. Other valuable cryptocurrencies, such Ethereum, Cardano, Solana, Dogecoin, and others, have emerged as a result of Bitcoin’s popularity and are currently leading the market in terms of market capitalization.
