The UK FCA has issued an investor warning against the scam broker ApcoFX (www.apcofx.com), allegedly based in Germany and London. The scam is being developed in cooperation with the Estonian crypto payment processors CryptoFactory OÜ and their crypto exchange Bitxtech (www.bitx-pay.com) and Zichain OÜ and their Rashbe (www.rashbe.com) Crypto Payment Platform. Both companies have one of the worthless Estonian FIU licenses.
The MT4 client is downloaded through Beta Management Holding Ltd a/k/a Beta Management Holding Services Ltd. (www.betamgm.info), a Seychelles registered company providing brokerage technologies and services as well as brokerage incubation services. The company is associated with many other broker scams like Midas Globe or FX NextGen.
The scam is typical for one of the many scam factories like Beta Management Holding. It is designed to rip off naive investors quickly and will only be online for a few weeks. The names behind the participating crypto payment processors are Viktor Aadler, 35, at Zichain OÜ, Or Bar, 32, and Romanas Kalinauskas, 32, at CryptoFactory OÜ. The ApcoFX Scam should be directly connected to the Swiss500 Scam. Rashbe also handled the crypto payments for the Swiss500 Scam which is already offline.