Merchant Alert: High-Risk Payment Processor Kryptova About to Vanish?

Kryptova Biz Ltd d/b/a Kryptova (www.kryptova.biz) is or was an unregulated crypto-focused high-risk payment processor. The company was established in October 2021 by the Indian citizen Chhavi Mishra and is controlled via an offshore entity on the Isle of Nevis. We suspect that Kryptova is part of the network of Indian-British payment veteran Ruchi Rathor. Currently, one of Kryptova's websites has gone offline, and a first notice for a compulsory strike-off is registered at the UK Companies House.

Kryptova Biz Ltd d/b/a Kryptova (www.kryptova.biz) is or was an unregulated crypto-focused high-risk payment processor. The company was established in October 2021 by the Indian citizen Chhavi Mishra and is controlled via an offshore entity on the island of Nevis. We suspect that Kryptova is part of the network of Indian-British payment veteran Ruchi Rathor. Currently, one of Kryptova‘s websites has gone offline, and a first notice for a compulsory strike-off is registered at the UK Companies House.

Key data

Brand	Kryptova
Domains	www.kryptova.biz ~~www.kryptova.global~~ offline https://kryptova.exchange
Business segment	high-risk payment processor and crypto payments
Legal entities	Kryptova Biz Ltd (UK) Kryptova Biz LLC (Isle of Nevis)
Related individual	Manuel Jose La Serna (Spain) Chhavi Mishra (India) Ola Daniel (US) Oluwole Ogunlade (Nigeria) Varun Malhotra (India) Harshit Verma (India) Paul Walker (UK)
Jurisdiction	United Kingdom
Contact data	+44 0 800 832 1373 sales@kryptova.biz
PayRate42 rating	Red Compliance (profile)
Regulated	no
Social media	LinkedIn, Facebook

What we learned

Kryptova is a high-risk payment processor offering a crypto-based credit card payment solution for international merchants. Moreover, it offers a white-label crypto payment solution for PSPs.

Kryptova‘s appearance is strikingly reminiscent of the infamous and collapsed iPayTotal, an Indian payment processor scheme operated via UK entities. Even the color scheme of the website looks like an iPayTotal successor. Like the high-risk payment processor Paypound, Kryptova is controlled by an offshore entity in Nevis, a small island in the Caribbean Sea.

We’ve discovered US-based Ola Daniel (LinkedIn) as one of the people behind Kryptova. He is linked to the payment processor on LinkedIn and is listed as a contact on the Facebook page. The former iPayTotal director Oluwole Ogunlade (LinkedIn) is also connected.

The stealth mode approach

The Kryptova payment platform has been developed by a team of IT experts offering a wide range of IT and data services through the same legal entity in the UK, Kryptova Biz Ltd, and the website www.kryptova.global. We suspect that this is an Indian venture. This may or may not be a correct assumption. Both websites do not have imprints and give no information about the operators. Stealth mode is illegal and totally unacceptable for financial service providers.

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If you have any information about Kryptova and its operators, please share it with us through our whistleblower system, Whistle42.

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