Investor Warning – Bitcoin System Affiliate Driving Traffic to Finotive and Finexics Broker Frauds

Overview of the Bitcoin System Affiliate Scam

The deceptive affiliate campaign under the name Bitcoin System (www.gainincreasenow.net/bitcoinsystem) has directed unsuspecting users to the fraudulent broker Finotive (www.finotive.net). This platform claims to be operated by Harmonte Group LLC, a company incorporated in St. Vincent & the Grenadines.

Payment Processors Involved

During Scam-Or Project’s investigation of this scam, familiar entities emerged once again. The PayBox cashier system (cashier.boxipay.io) facilitated transactions, supported by a network of high-risk payment processors frequently linked to scams. These include:

• iPayTotal

• PayNetEasy

• PayTechno

• PayCent

When testing a simulated deposit on Finotive through PayTechno (www.paytechno.com), Scam-Or Project identified Harmonte Group LLC as the merchant of record for Finotive. This company is also tied to another scam broker, Finexics (operating via www.finexics.io and www.finexics.com).

Connection Between Finotive and Finexics

It became evident that Finotive and Finexics are directly connected. Financial market regulators issued warnings about Finexics as early as December 2020. Both brokers operate under white-label solutions developed and managed by the same backend infrastructure.

As with Finotive, Finexics also uses the PayBox cashier, and both scams employ the same network of payment processors, reinforcing their operational link.

Call to Action

If you have any information or personal experiences regarding these scams or their supporting payment processors, please share them with us. Scam-Or Project remains committed to exposing illegally operating brokers and payment facilitators to protect investors worldwide.

Report Scams and Their Enablers

Help prevent others from falling victim by reporting scams and their enablers to the appropriate authorities immediately.