Offshore Casinos Swap Payment Channels After Exposure: From Coin Sonic to Unlicensed Yotta Pay

Overview

After an investigative report by Scam-Or Project into Coin Sonic UAB, the offshore casino operator behind SlotsDynamite and SlotsAmigo has quietly switched payment facilitators. Its Lithuanian partner has been replaced by Yotta Pay, an unlicensed UK-based entity that appears to piggyback on Revolut’s open banking infrastructure.

Confirmed Impact of the Scam-Or Project Report

On 30 October 2025, Scam-Or Project issued a compliance report raising the question whether Lithuanian VASP Coin Sonic UAB was being used to channel fiat deposits for offshore casinos that operate illegally within the EU.

Following publication:

• Coin Sonic’s MLRO Tsimafei Breski lodged a defamation complaint,
• Yet he did not point to any concrete factual errors.

A subsequent review on 3 December 2025 showed that the reporting had tangible consequences: Coin Sonic UAB, trading as InstaXchange, appears to have ended its cooperation with Coco Loco Holdings N.V., the Curacao entity behind SlotsDynamite and SlotsAmigo. Player bank transfers are no longer being funneled to Coin Sonic’s Banking Circle account in Germany (IBAN ending …56199298), as earlier screenshots documented.

New Payment Facilitator: Yotta Pay

With Coin Sonic removed from the flow, Coco Loco Holdings N.V. has engaged Yotta Digital Ltd (trading as Yotta Pay) as its replacement payment facilitator.

Key corporate data on Yotta Digital Ltd:

• Jurisdiction: United Kingdom (registered in Wales)
• Company number: 12195240
• Incorporation date: 9 September 2019
• Registered office: Swansea, Wales
• Control: Sole director and person with significant control – Ihor Kononko, a Ukrainian national

Regulatory status:

• Yotta Digital Ltd does not appear in the UK Financial Conduct Authority’s Financial Services Register.
• Neither Yotta Digital Ltd nor Yotta Pay holds FCA authorization as a Payment Institution or Electronic Money Institution.
• Without such authorization, Yotta Pay cannot lawfully provide regulated payment services to customers in the UK or the EU.

Traffic intelligence on YottaPay.co.uk shows that all outbound links lead to oba.revolut.com, the open banking subdomain operated by Revolut. This strongly indicates that Yotta Pay acts as a technical front-end, funneling payments through Revolut’s open banking API rather than operating under its own regulated license.

How the Casino Deposit Flow Works

Our review identified the following approximate flow for player deposits at SlotsDynamite and SlotsAmigo:

1. The player selects a bank transfer deposit option on the casino website.
2. The player is redirected through high-risk payment gateways such as Omerpayments.com or Zinzipay.com.
3. From there, the user is forwarded to Yotta Pay’s checkout environment (YottaPay.co.uk).
4. Yotta Pay then routes the transaction via Revolut Open Banking to the final recipient account.

This multi-step routing:

• Masks the identity of the ultimate beneficiary,
• Creates the appearance of a legitimate UK open banking transaction,
• Enables unlicensed offshore casinos to collect deposits from EU-based players through regulated banking rails.

Compliance and Risk Red Flags

Yotta Pay raises a number of serious compliance concerns:

• No FCA authorization despite facilitating payment flows that resemble regulated payment services.
• Single Ukrainian director (Ihor Kononko) with no publicly disclosed compliance or risk management team.
• Opaque routing of customer funds through several high-risk intermediaries (e.g., Omerpayments.com, Zinzipay.com).
• Dependence on Revolut’s Open Banking API to support transactions linked to illegal online gambling.

Given these indicators, Revolut should assess whether its open banking infrastructure is being misused by unregulated payment facilitators processing deposits for offshore casinos targeting EU and UK players.

Old vs New Payment Facilitator: Side-by-Side Overview

Call for Information and Whistleblower Submissions

Scam-Or Project invites:

• Players,
• Industry insiders, and
• Whistleblowers

who have knowledge of Yotta Pay, Coin Sonic, Coco Loco Holdings N.V., or connected payment schemes to share information.

Relevant materials may include:

• Details of payment flows and routing,
• Transaction records,
• Evidence of corporate relationships,
• Compliance or AML failings.

Information can be submitted securely and confidentially via the Scam-Or Project whistleblower section.