Unregulated Estonian crypto payment processor

10ex is the trading style of the Estonian Ibinex Financials Estonia OÜ. The company had a crypto license until Sept 2020.

The Cyprus citizen Andreas Theodosiou is the sole registered director of this entity. Moreover, he is also the sole director in three Estonian crypto payment processing entities related to the Ibinex Group:

  • Ibinex Financials Estonia OÜ d/b/a 10ex and Crypto Exchangers (www.cryptoexchangers.com)
  • xShop OÜ d/b/a Ibinex (www.ibinex.com)
  • Clear Transfer Technologies OÜ d/b/a ClearTransfer (www.cleartransfer.io)

We are generally suspicious if a payment processor has no presence on social media. This is actually a necessity in the age of cyberfinance in order to communicate with (potential) customers.

We discovered the Ibinex group as a payment facilitator in broker scam environments and therefore put it on our Red Compliance Light list.

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