Alex Alexandrov Coin Payments: Is this a Ponzi Scheme?
Alex Alexandrov CoinPayments is a serial scammer with a long history of fraud. Before you do business with any of his latest companies, be sure to read the following review:
One Coin Ponzi Scheme of Alex Alexandrov CoinPayments
The $4 billion OneCoin Ponzi scheme continues to get financial services from payment processor Alex Alexandrov CoinPayments.
In June 2022, Alex Alexandrov CoinPayments issued a categorical denial, followed by this.
OneCoin established OneEcosystem in 2021 as a means of separating itself from obscurity.
OneEcosystem published a video on their official YouTube channel titled “HOW TO TOP UP YOUR DIGITAL CASH WALLET” on April 12th, 2023.
The various ways that associates may put money in OneCoin are shown in the video. Several euro deposit options are shown in the movie, and CoinPayments is identified as OneCoin’s payment processor.
*You can go to the following link to watch this video:
The marketing materials for OneCoin from the previous year included Alex Alexandrov CoinPayments. WhistleBlowerFin, a BehindMLM reader, posted this on June 24.
After that information appeared on different outlets, Alex Alexandrov CoinPayments posted a message on Twitter denying any connection to Onecoin within 48 hours.
Money laundering using OneCoin is admitted by Frank Schneider
Several One Coin officials have been charged in the US. One Coin is the company of Alex Alexandrov CoinPayments. The criminal trials involving OneCoin are at varied stages, with some individuals awaiting punishment and others still awaiting judgment.
What is OneCoin which is owned by Alex Alexandrov CoinPayments?
OneCoin still operates out of Bulgaria despite US authorities removing its public leadership team.
Ventsislav Zlatkov, a puppet CEO who allegedly works for organized criminal interests connected to the Bulgarian government, is in charge of running the Ponzi scam.
How exactly does a Ponzi scheme operate?
An investment fraud known as a Ponzi scheme draws investors with claims of great returns and no risk but fails to invest the money as stated. Instead, it pays off earlier investors with money from future investors while maybe keeping a portion of the profits. These schemes typically fail when recruiting investors becomes challenging or when multiple investors attempt to cash out. They depend on a steady flow of new buyers to operate. They are called after Charles Ponzi, who ran a similar scam using postal stamps in the 1920s.
A cryptocurrency payment processor called CoinPayments works under the false name of UAB Star Ventures, a fictitious business registered in Lithuania.
Jason Butcher and Alex Alexandrov are the founders and CEOs of CoinPayments.
Although Alexandrov was born in Ukraine, he immigrated to Canada when he was a little child. A few years ago, Alexandrov moved to Dubai, the world’s famed center of crime.
Alex Alexandrov CoinPayments involved in Money Laundering
Furthermore, to other criminal charges, the majority of OneCoin arrests are related to money laundering.
Money laundering for illegal MLM scams has historically been aided by Alex Alexandrov CoinPayments.
- The PowerBot Ponzi scam accused Alex Alexandrov CoinPayments over its failure in March 2019.
Aidan Parr, the scheme’s owner, accuses CoinPayments of being responsible, but they dispute this. A screenshot, allegedly from an email given to Parr by Alex Alexandrov CoinPayments, was included with his message.
To verify the CoinPayments email, a member of the Facebook group “RB Global (Recycle Bot) & Power Bot” got in touch with the processor.
Despite declining to confirm the blocked funds, CoinPayments’ technical support team did admit they hadn’t seen the message that Parr alleges to have received.
- The CFTC discovered in June 2019 that Alex Alexandrov CoinPayments had been used to launder $150 million from the Control Financing Ponzi scheme.
- The SEC disclosed in February 2021 that Krstijan Krstic was using Alex Alexandrov CoinPayments to hide Ponzi money.
Investors contributed over $2.9 million value of BTC and ETH to the Begin Options digital wallet, which Krstic controlled, as well as an account set up on CoinPayments.net, a site for processing digital asset payments, during December 1, 2017, and January 26, 2018.
- After July 2022 The NexusICO Ponzi scheme was funded, according to BehindMLM, with Alex Alexandrov CoinPayments.
According to their marketing materials, Alex Alexandrov CoinPayments is the conduit via which NexusICO runs their Ponzi scheme:
- US officials found 3658 BTC of stolen investor revenues from EminiFX transmitted to Alex Alexandrov CoinPayments in November 2022.
The payment processor CoinPayments has sent back 3658 BTC to the EminiFX Receiver.
On November 20, Alex Alexandrov CoinPayments delivered 3658.33264986 BTC to the EminiFX Receiver in response to a “Turnover Agreement Application” that had been accepted on November 15.
The clawback was approved by the SEC, Eddie Andrexandre, and the EminiFX Receiver.
Comments on “3658 BTC in EminiFX funds reclaimed from Alex Alexandrov CoinPayments”:
- The NovaTech FX Ponzi scheme claimed continuous withdrawal delays to Alex Alexandrov CoinPayments in October 2022.
CoinPayments is to blame, according to business updates posted on Telegram for investors.
At the moment, it seems as though NovaTech FX’s withdrawal problems are restricted to connected withdrawals.
Securities fraud is being carried out by NovaTech FX, a Ponzi scheme. CoinPayments’ 48-hour collapse of OneCoin was covered by BehindMLM earlier this year.
Running a Ponzi scheme appears to be against CoinPayments’ TOS, at least in some cases.
Conclusion
As a result, it becomes clear that Alex Alexandrov CoinPayment is directly linked to the Ponzi schemes of several other businesses. It is a complete scam and con. So, read more about him and his Ponzi Schemes by looking through reports and summaries.
