NovaTech FX traders are having withdrawal troubles.
As per company updates shared with traders on Telegram, cost processor CoinPayments is being blamed.
Presently it seems NovaTech FX’s withdrawal points are localized to tether withdrawals.
We’re noticing a rising variety of points arising regarding USDT money out requests.
We approve and ship them, they’re proven as SENT within the backoffice, however they’re being rejected on the blockchain.
That is almost definitely because of the funds processor being unable to course of – or – the change receiving the funds is rejecting the deposit.
We’ve introduced this subject as much as CoinPayments, who has tried to whitelist exchanges with the intention to keep away from additional subject, nevertheless it nonetheless appears to be randomly occurring.
NovaTech FX traders are being informed to withdraw utilizing different cryptocurrencies, which nonetheless seem to work for now.
CoinPayments markets itself as “the world’s largest supplier of cryptocurrency cost companies”.
- CoinPayments is operated by way of UAB Star Ventures, a Lithuanian shell firm
- CoinPayment’s advertising materials factors to the British Virgin Islands
- CoinPayment’s Consumer Settlement cites the London Court docket of Worldwide Arbitration
CoinPayments was co-founded by Sina Mirzaie. As of March 2022 the processor is headed up by Dennis Pederson.
Mirzaie and Pederson are residents of British Columbia, Canada. CoinPayments’ official FaceBook web page is managed from Canada, Bulgaria and the Czech Republic.
Regardless of ties to shady jurisdictions, it seems CoinPayments is based totally out of and run by people in Canada.
NovaTech FX’s withdrawal issues observe a securities fraud warning issued by the British Columbia Securities Fee earlier this month.
BehindMLM can’t affirm NovaTech FX’s withdrawal issues are the results of an ongoing regulatory investigation. If they’re, this is not going to be publicly disclosed till an enforcement motion is filed.
What we will affirm is that this:
The US makes up the vast majority of site visitors to each NovaTech FX’s and CoinPayments’ web sites.
CoinPayments’ Consumer Settlement states;
We reserve the correct always to observe, assessment, retain and/or disclose any info as essential to fulfill any relevant legislation, regulation, Sanctions Applications, authorized course of, or governmental request.
We reserve the correct to cancel and/or droop your Account and/or block transactions or freeze funds instantly and with out discover if we decide, in our sole discretion, that your Account is related to a Prohibited Exercise.
NovaTech FX is a Ponzi scheme committing securities fraud. Earlier this yr BehindMLM reported on CoinPayments dumping OneCoin inside 48 hours.
It might seem, a minimum of in some circumstances, that working a Ponzi scheme is towards CoinPayments’ TOS.
Coinciding with withdrawal points, co-founder and CEO Cynthia Petion introduced NovaTech FX has deleted all queued assist tickets.
I do know this can be a drastic measure. It’s not one thing we’d have favored to have carried out however I do assume it’s a necessity to ensure that us to have the ability to tackle points extra shortly.
Cynthia and husband Eddy Petion run NovaTech FX from Florida.
Pending additional updates, keep tuned.
