Bitcoin scammer Tadas Kasputis has reappeared at alleged scam payment service MoneyPolo

One of the biggest Bitcoin scammers of recent years is back working with an alleged scam money transfer service that is utilized by several Bitcoin exchanges, SiliconANGLE has exclusively learned.

Lithuania-born Tadas Kasputis first came to our attention in January 2015 when we investigated a series of scam Bitcoin-related services including EgoPay, Virtex.com, and Paymentbase.

Kasputis’ history in scams dates back to his time as a student at the Kaunas University of Technology (KUT,) Kaunas, Lithuania, where he became involved in the running of a company called Regal Fund Diversified Inc. (Regal,) a HYIP that offered the typical returns you expect from a pyramid scheme: “6.5% weekly investment payout of total principle…total 100% return principle + 238% return profit after the first year, then total 338% again for each following year for life.”

Regal also offered RegalPay, an Ecurrency that predated Bitcoin, among other services.

During the first part of the 2010’s Kasputis established Egopay, a Bitcoin exchange service that ceased trading in January 2015 with potentially millions of dollars stolen, and related entities Virtex.com and Paymentbase; Virtex was a Bitcoin and Litecoin exchange based in Lithuania that also ceased trading in January 2015, while Paymentbase offered payment transfers through a Pakistani shelf company and also went out of business around the same time.

MoneyPolo

Kasputis is now actively involved in the management of money transfer service MoneyPolo, according to sources familiar with the matter.

At this stage, we have been unable to confirm his exact position in the company, but we are aware that he is in a senior management position, and that he is involved in recruiting staff.

MoneyPolo itself pre-dates Kasputis’ other scams and is believed to be a fully own subsidiary of Mayzus Financial Services Ltd., a company with a presence in Czech Republic, Cyprus and the United Kingdom, although MoneyPolo itself is based in Russia.

Allegations of MoneyPolo being a scam go back as far as January 2015 (strangely around the same time Kasputis’ Bitcoin-related companies ceased trading) across multiple boards including Bitcointalk.org, Cryptocointalk, TalkGold, Bitcointa.lk, and others.

The theme is usually the same: a user has transferred funds into the service and is then unable to withdraw them.

Of note parent company Mayzus is believed to provide money transfer services for Bitcoin exchanges OKPAY BTC-E, and funds from at least BTC-E can be placed in a MoneyPolo account; one thread also notes that they provided transfer services for the now defunct Kasputis company Virtex.

Warning

Parent company Mayzus has been trading since at least 2008 as a foreign exchange service provider and has a registered business address in the United Kingdom, so on the face of it they don’t appear to be overly untoward, whereas there are far more complaints about MoneyPolo; at the very least they’re poorly run, and the worse it’s another scam.

Whether they actually are dodgy or not anything involving Tadas Kasputis needs to be flagged with a warning: this is a guy who has sold illegal products and run companies that have disappeared overnight with millions in missing funds.

If he’s even a little bit involved in Mayzus or MoneyPolo proceed with caution.

We’ll keep monitoring the companies involved here and publish more if we find it.

If you know more about MoneyPolo, Mayzus or Tadas Kasputis please let us know by sending an email.

Image credit: MoneyPolo.
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Duncan Riley

Duncan Riley

Duncan Riley is a senior writer at SiliconANGLE covering Startups, Bitcoin, and the Internet of Things.

Duncan is a co-founder of VC funded media company B5Media and founder of news site The Inquisitr, and was a senior writer at TechCrunch in its earlier days.

Tips? Press releases? Intersting startup? email: duncan@nichenet.com.au or contact Duncan on Twitter @duncanriley

Duncan Riley

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