By the Scam-Or Project Editorial Board
Date: February 21, 2026

Executive Summary: Silence Speaks Volumes

Last Friday, Scam-Or Project formally notified the compliance department and board of Paytend Europe UAB, a Lithuanian Electronic Money Institution (EMI), of their apparent role in supporting the unlawful activities of the crypto exchange MEXC. Our urgent communication outlined how Paytend’s payment infrastructure continues to facilitate transactions for a platform that not only operates without proper authorization in the EU but also systematically misappropriates our intellectual property.

We granted Paytend a 48-hour window to respond.

They did not.

As of February 18, 2026, independent forensic testing confirms that Paytend Europe UAB is still processing Euro deposits destined for MEXC through the Romanian entity Finetix Ltd S.R.L. In parallel, Similarweb analytics data indicates that MEXC.com and MEXC.co rank among the top five referral sources directing traffic to Paytend.com.

This pattern is not an isolated compliance lapse. It appears to reflect a structured commercial relationship.

Accordingly, we are now making our original notification public in the form of this Open Letter. We do so fully aware that MEXC’s automated scraping systems may republish this text in their own “News” section—an act that would further illustrate the very conduct addressed herein.

The “Red Shield” Payment Rail: Structural Overview

For supervisory authorities and compliance professionals, the operational structure functions as follows:

1. The Front: Finetix Limited S.R.L.

Users attempting to deposit Euros on MEXC are required to accept the Terms & Conditions of Finetix Limited S.R.L., a Romanian company. Finetix:

• Has no publicly verifiable VASP/CASP license.
• Operates a non-functional or incomplete website.
• Provides no visible independent crypto services.

2. The Pipe: Paytend Europe UAB

Finetix maintains its banking accounts with Paytend Europe UAB in Lithuania. When EU consumers wire funds to “purchase crypto” on MEXC, the transfer is executed to Finetix’s IBAN account held with Paytend.

3. The Functional Reality

Finetix acts as a transit vehicle. It performs no substantive service independent of MEXC. Its operational role appears limited to:

• Receiving Euro deposits.
• Channeling funds toward MEXC-linked infrastructure.
• Shielding the exchange from direct scrutiny by EU banks.

4. Evidence of Systemic Awareness

According to Similarweb data:

• MEXC.com and MEXC.co consistently rank among the primary referral sources to Paytend.com.
• The volume and persistence of this traffic make accidental association implausible.

Given this data, it would be statistically unreasonable to assume that Paytend’s risk and compliance teams remain unaware that a significant share of inbound traffic originates from an offshore exchange flagged by multiple regulators.

OPEN LETTER TO PAYTEND EUROPE UAB

To:
Board of Directors & Compliance Department
Paytend Europe UAB

From:
Scam-Or Project News & The RatEx42 Investigation Team

Subject: Immediate Cease and Desist – Facilitation of Unauthorized Financial Services and IP Violations

Dear Paytend Management,

Your organization has chosen not to respond to our private notification. We therefore present our concerns publicly.

1. Facilitation of Unauthorized Financial Services

Your client, Finetix Limited S.R.L. (Romania), appears to function as an unlicensed crypto-asset service provider acting on behalf of MEXC Global.

By maintaining IBAN accounts for Finetix, Paytend Europe UAB is effectively processing funds for an exchange that:

• Solicits EU consumers.
• Lacks a MiCA license.
• Operates outside established EU regulatory frameworks.

Such activity raises serious concerns under AML/CTF obligations as defined by the supervisory framework of the Bank of Lithuania (Lietuvos bankas).

2. Complicity in Intellectual Property Misappropriation

MEXC Global has repeatedly:

• Scraped,
• Republished,
• And redistributed proprietary investigative content originally published by Scam-Or Project.

This includes warning lists and investigative analyses, which are reposted to create an artificial appearance of legitimacy and to manipulate SEO visibility.

By sustaining the financial infrastructure enabling MEXC’s operations, Paytend materially supports an entity engaged in systematic intellectual property violations.

We reserve the right to pursue contributory liability claims for damages resulting from this conduct.

3. The “Finetix” Structure

Our findings indicate that Finetix Limited S.R.L. operates as a shell intermediary:

• Its website does not provide functional crypto purchasing capabilities.
• It processes significant Euro volumes.
• It lacks visible operational independence.

In effect, Paytend is providing banking services to a structure with no meaningful standalone activity.

Our Formal Demand

We hereby demand that Paytend Europe UAB:

1. Immediately terminate its banking relationship with Finetix Limited S.R.L.
2. Cease all indirect transaction processing benefiting MEXC.

Failure to take corrective action will result in a formal regulatory submission to:

• The Bank of Lithuania (Lietuvos bankas)
• The Romanian Financial Intelligence Unit

This submission will detail the apparent willful blindness to high-risk transaction flows and the systemic compliance risks identified.

Govern yourselves accordingly.

A Note to MEXC and Its Automated Scrapers

Should this article appear on mexc.com/news or any affiliated domain, it will merely demonstrate the ongoing practice of unauthorized content replication. Such republication would serve as additional evidence of the operational conduct described above.

Call to Action

Whistleblowers

• Are you employed by Paytend Europe UAB or Finetix Limited S.R.L.?
• Do you possess internal communications referencing the classification of the MEXC account as “High Risk”?

Submit information anonymously via the Scam-Or Project whistleblower section.

Regulators

We urge the Bank of Lithuania (Lietuvos bankas) to conduct a comprehensive review of transaction volumes and correspondent relationships between Paytend and Romanian entities associated with crypto processing.

The transaction data will speak for itself.