Red Flags
2
CoinsPaid
CoinsPaid faces allegations of financial misconduct, money laundering, and regulatory evasion, with conflicting management roles and links to Belarusian money launderers.
Quick summary on CoinsPaid
Financial Misconduct and Potential Bankruptcy:
CoinsPaid disclosed a significant $37 million loss due to a hack, which contradicted earlier financial statements, raising concerns about the company’s solvency.
Involvement in Money Laundering:
Insider reports claim that CoinsPaid launders hundreds of millions of euros annually, using a network across multiple European countries.
Problematic Management Practices:
Corporate structures appear to be manipulated to facilitate illicit financial activities without proper oversight or adherence to regulations.
Regulatory Evasion:
Despite having a crypto license in Estonia, CoinsPaid is allegedly engaged in activities that violate financial and corporate governance norms.
Dubious Connections to Belarusian Money Launderers:
Alexander Horst Riedinger is linked to money laundering activities, allegedly acting as a front man for Belarusian money launderers.
Management Issues and Conflicting Roles:
The company is run by Ukrainian Max Krupyshev, who operates remotely from Berlin, while Riedinger, based in Austria, is reported as the beneficial owner of CoinsPaid.
Intel Reports
by: Yasmin Saleh
ya’ll better double check before sending funds thru here, I lost over $400 n got no real help. Beware. ⚠️
by: Antonio Mendes
This just reads like it was written by their own PR team... no mention of past controversies or bad press?
by: Rui Zhang
Too many promises, too little delivery. Tried once, regretted twice. Not again.
Pros
Cons
by: Xavier Quinn
After putting in $85,000, I found out the company is run by criminals now my account is frozen, and support has ghosted me.
by: William Pierce
I lost $88,000 because CoinsPaid refused to process my withdrawals after their so called hack. Their management is full of criminals, and investors like me are left with nothing stay away.
by: Vanessa Owens
CoinsPaid stole my $65,000, blocked my account, and now refuses to respond this platform is a front for financial fraud.
by: Uriel Nelson
I trusted CoinsPaid with $80,000, but after the so called hack, my funds vanished no compensation, no answers, just silence.
by: Levi Bennett
If the insider reports are true, this isn’t just bad management—it’s outright criminal activity!
by: Nora Russell
The people running this company aren’t just incompetent—they’re dangerous.