A few days ago, CoinsPaid, including CryptoProcessing, issued a press release claiming to be the world’s largest crypto payment ecosystem. It had processed over €16 billion worth of crypto in total and continues growing by nearly €1 billion per month in the declining market. In Q3 2022, CoinsPaid allegedly processed 4.9 million transactions worth approximately €3 billion.
FinTelegram has brought an update following the CoinsPaid Announcement, also noting that the crypto payment processor is also involved in broker scams and illegal online gambling schemes.
The CoinsPaid scheme holds a crypto license from the FIU in Estonia. The beneficial owner of this Estonian entity is the Austrian Alexander Horst Riedinger, who runs the software company A.R. Merkeleon GmbH in Austria, which specializes in the crypto segment. This, in turn, is 50% owned by Riedinger and 50% by Cyprus-registered Skylock Investments Ltd.
Co-founder and CEO is Maksym Krupyshev, a/k/a Max Krupyshev, a Ukrainian living in Berlin, who also confirms this on his LinkedIn profile. We, therefore, assume that Krupyshev is behind Cyprus-based Skylock Investments.