Red Flags
4
iPayTotal
Quick summary on iPayTotal
Unlicensed Operations: iPayTotal, under Monika Sild’s directorship since March 2021, has been operating without the necessary license from the Estonian Financial Intelligence Unit (FIU) for its cryptocurrency payment platform, CryptoMatix.
Questionable Leadership Transition: Prior to Sild, Aditya Williams, associated with dissolved entities like Doofus Ideas Ltd. and Tecnomatix Ltd., served as director. The transition to Sild, who also holds nominee director positions in other firms, raises questions about the company’s leadership stability and legitimacy.
Potential Regulatory Evasion: The company’s consideration to apply for an FIU crypto license only after initiating operations suggests possible attempts to bypass regulatory requirements.
Association with Controversial Figures: iPayTotal’s connections to individuals like Sen Kugan and Ruchi Rathor, known for high-risk payment processing, may indicate involvement in dubious financial activities.
Use of Nominee Directors: Monika Sild’s role as a nominee director in multiple companies, including Ledio Group OÜ and AlfaCash OÜ, raises concerns about transparency and the true control of iPayTotal’s operations.
Unclear Legal Status of CryptoMatix: Operating without an FIU license, CryptoMatix’s legal standing is questionable, potentially exposing clients and partners to legal risks.
Intel Reports
by: Julian Rivera
Operating without the necessary FIU license? That’s a huge red flag for any company involved in cryptocurrency
by: Audrey Diaz
iPayTotal’s lack of an FIU license is a major red flag, especially when it comes to cryptocurrency. Monika Sild’s ties to nominee director roles and questionable figures only add to the company’s unstable reputation.
by: Gabriel Torres
Trying to get licensed after starting operations is a clear sign of regulatory evasion. With connections to controversial individuals and questionable leadership transitions, iPayTotal looks more like a scam than a legitimate business.
Cons