Merchant Alert: UK Entities Of High-Risk Payment Processors Kryptova And Bitmatix Dissolved!

FinTelegram has already reported that the UK entities behind the high-risk payment processors, Kryptova, Bitmatix, and Paypound are in the process of being dissolved. The UK Companies House announced that the companies cease to exist via voluntary strike-off as of April 18, 2023. They belong to the network of notorious Indian payment veteran Ruchi Rathor. Merchants should take the best care of their money and avoid black-listed Kryptova, Bitmatix, and Paypound.

FinTelegram has already reported that the UK entities behind the high-risk payment processors, Kryptova, Bitmatix, and Paypound are in the process of being dissolved. The UK Companies House announced that the companies cease to exist via voluntary strike-off as of April 18, 2023. They belong to the network of notorious Indian payment veteran Ruchi Rathor. Merchants should take the best care of their money and avoid black-listed Kryptova, Bitmatix, and Paypound.

Key Data

Trading names	BitMatix Kryptova Paypound
Business activities	High-risk payment processor
Domain	https://bitmatix.io https://kryptova.biz
Legal entities	BitMatix IO Pvt Limited (prev. iPayTotal Pvt Ltd), India BitMatix IO Ltd, UK BitMatix Inc. Kryptova Biz Ltd, UK Kryptova Biz LLC, Nevis Self Pay IO Ltd, UK Next Ring LLC, Nevis
Related individuals	Ruchi Rathor (India) Anurag Pratap Singh (India) Anirudh Pratap Singh Rathor (India) Yuvraj Singh (India) Chhavi Mishra (India) Ana Raquel Ortega Arauz (Panama) Manuel Jose La Serna (Spain)
Related schemes	CryptoMatix, PayoMatix, PayPound, PayStudio, Pay Agency, OpenUp iPayTotal
PayRate42 rating	Kryptova: Black Compliance (profile on PayRate42) Bitmatix: Black Compliance (profile on PayRate42) Paypound: Black Compliance (profile on PayRate42)

Short Narrative

BitMatix, Kryptova, and Paypound are just three of the iPayTotal successor schemes. There is also CryptoMatix, Payomatix, PayStudio, and others.

Kryptova and Paypound are now operated via two Nevis-registered entities: Kryptova Bic LLC and Next Ring LLC, respectively.

While Bitmatix IO Ltd in the UK is being dissolved, the Bitmatix website was no longer accessible on April 12, 2023. Whether this is just a short-term problem or whether Bitmatix has disappeared in general, we do not know at this time.

BitMatix used to be operated through UK-registered Bitmatix IO Ltd and India-registered Bitmatix IO Pvt Limited (formerly iPayTotal Pvt Ltd). Yuvraj Singh, the Indian son-in-law of Ruchi Rathor, is installed as the director and owner of the UK entity. The directors of the Indian Bitmatix entity are Ruchi Rathi and Anurag Pratap Singh. The liquidators of bankrupt iPayTotal Ltd are seeking the latter to answer unanswered questions surrounding the missing funds and assets.

As reported by FinTelegram, there are no funds in iPayTotal Ltd but at least GBP 1.1 million of claims from creditors.

Share Information

If you have any information about BitMatix, Kryptova, Paypound, CryptoMatix, PayoMatix, and the other schemes in the Ruchi Rathor network, please share it via our whistleblower system, Whistle42.

Share information with FinTelegram

CyberRating Agency PayRate42 announced new compliance criteria for crypto firms

Attention: New Crypto Regulations Prompt New Compliance Criteria At PayRate42!

Cryptocurrencies have been gaining popularity in recent years, with many investors and businesses turning to them as a means of payment and investment. However, with the rise in use of cryptocurrencies, there has also been an increase in regulatory scrutiny. Recently, new crypto regulations have been introduced, prompting CyberRating agency PayRate42 to implement new compliance criteria.

Wise with impressive performance and confirmed Green Compliance rating

FinTech Wise with impressive performance! PayRate42 confirms Green Compliance rating!

PayRate42, the leading cyber rating agency, has recently updated the profile of UK-based fintech giant Wise, reaffirming its “Green Compliance” rating. This update follows Wise’s impressive half-year financial results, showcasing a substantial increase in profits and revenue, driven by favorable interest rates and a surge in customer engagement.

Dutch crypto exchange Bitvavo receives regulatory approval

Dutch Crypto Exchange Bitvavo Received Approval Of Austrian Regulator FMA!

Many experts and investors are preparing for the next crypto bull run expected before the halving in Q2 2024. The approval of US crypto ETFs is also expected, which should pump a lot of money into the crypto segment. Just in time for the expected take-off, the Dutch Bitvavo has received another regulatory license in Austria.

Update On Payment Processor NomuPay

NomuPay is certainly one of the most interesting high-risk payment processors in Europe. Not because of its technology or its business, but because it has taken over important parts of the Wirecard business and allegedly also parts of the now closed Payvision. Here is an update.