Payment processor and wallet operator

Key Data

  • Trading Names: Advcash, Advcash Payment Hub, ADV2 Wallet
  • Legal Entities: Advanced Cash Limited, ADV Project Limited, Payean Finance Inc.
  • Activities: Payment processor
  • Location: Belize, Gibraltar, Canada
  • Regulation: FSC Belize, FNTRAC Canada
  • Key People: Yaacov Bitton, Artem Abramov, Artem Shulepov, Max Eirich

Advcash or Advcash Payment Hub ( are the trading name of Advanced Cash Limited, a company registered in Belize with a license from the Belize Financial Services Commission (FSC Belize).

ADV2 Wallet is the trading name of Payean Finance Inc., a Money Service Business (MBS) registered with FINTRAC Canada.

The Russians Artem Abramov and Artem Shulepov are supposed to be the beneficial owners of the Advcash scheme of which the Gibraltar-registered ADV Projekt Limited, a fintech solution provider, is said to be part. The Gibraltar entity was established in 2013 and, until March 2022, was controlled by Artem Shulepov. Since then, the German Max Eirich has appeared as the beneficial owner of the Gibraltar Entity.

The Offering

Advcash offers FIAT and crypto payment services in a partnership with crypto exchanges such as Binance. Moreover, it offers SEPA and IBAN services to individuals and merchants. Advcash also offers multi-currency debit cards. Clients can fund their accounts in USD, EUR, RUB, KZT, UAH, and BRL.

Deposits and withdrawals from personal bank accounts are free. In addition, the following fees are charged:

  • SEPA deposits/withdrawals: €1/€0.5% plus €5
  • Credit card deposits: 3.5%/2% plus €3
  • Stablecoins (USDT, USDC, BUSD) deposits/withdrawals: $1/different fees
  • Local bank transfers: different fees
  • Cryptocurrencies: internal exchange rate

Advcash receives a “Great” trust level on Trustpilot with a 4.s-star rating.


We have identified Advcash as a payment facilitator in some scams and due to the investigation against them and the accusation of money laundering, we are downgrading them to RED.

3 reviews

  1. Well I definitely enjoyed studying it. This subject offered by you is very effective for correct planning.

  2. ADVCASH the russian laundromat

    Throughout 2019 and 2020 the ADV wallet has been used to process the proceed of several
    investment fraud scams, mostly in Germany The ADV service was used to receive the
    proceeds of the fraud and then convert them to BTC and execute multiple wallet-to-wallet
    transfers concealing the destination of the funds. There are several open investigations in
    Germany regarding those cases… It highly suspected that the involvement of ADV Cash in those schemes is voluntary and intended.
    German authorized requested the freezing of funds of ADVCASH.
    Artem Abramov (UBO of ADV Cash Ltd, now deceased) through the UK based entities Advanced Cash Ltd and ADV BILL LTD are connected to LAS International Ltd and Protectimus Solutions LLP is linked to GSL Law (and independently
    It was has established a link between GSL and Adv Cash Ltd Belize, including a former GSL
    employee now being employed at Adv Cash, Julia Popova) and that Artem Shulepov (UBO of ADV Project) is connected to GSL through Atome Investments Ltd.
    LAS International Ltd is registered to 5 Percy Street, WC2, the same address as Advanced
    Cash Ltd. In a report published by Bellingcat on 1 October 20191 LAS was named as one of
    four prolific providers of Scottish Limited Partnerships, almost exclusively registered in
    offshore secrecy locations. The report also states that a number of LAS registered SLPs have
    been involved in money laundering and sanctions evasion. This is one of a significant
    number of reports relating to LAS.
    More information about LAS International can be found in the following link
    ADV BILL LP has named Advanced Cash Solutions Limited (the Belizean company) as its
    General Partner and Damitra Limited as its Limited Partner. According to Bellingcat, 736
    SLPs have named Damitra as a Limited Partner. They identify a Mr S Valuta as the main
    signatory of these SLPs. Mr Valuta also signed the registration documents for ADV BILL LP.
    Advanced Cash Ltd was registered to LAS Internationals Percy Street office on 11 December
    2018. There is no indication on the Companies House register that it is a non-trading
    company and it carries virtually the same name as the trading Belizean company. Since
    registering, it has failed to provide the mandatory confirmation statement and has been
    moved to compulsory strike off.
    G.S.L. Law & Consulting (of which the UK company was a subsidiary) features prominently in the Panama Papers reporting on the website. It was also named by
    William Browder as the formation agent for one of entities used to move the Magnitsky
    funds out of Russia in 2007.
    More information can be found on
    G.S.L. Law is famously in the middle of multiple offshore leaks as can be seen at, Head of Legal Julia Popova of ADVCASH, was working for G.S.L Law.
    A UK company called ADV Project FX Ltd named ASV Project Ltd (with a registered address
    in Seychelles) as its sole shareholder. Even though ADV Project FX Ltd was dissolved in 2016, it has connections to other relevant companies. One of its directors, Genevieve Magnan, has been disqualified by Companies House for 12 years for her involvement with a Binary
    Options scam through a company called Eclipse Finance Ltd. According to Ms Magnans
    LinkedIn profile, she is an administrator at Alpha Consulting Ltd, a Seychelles Corporate
    Service Provider, a role she holds alongside Sandra Gina Esparon (who has several aliases).
    Ms Esparon was the Designated Member for Always Efficient LLP, a company at the heart of the BTC-e scandal involving Alexander Vinnik. Always Efficient LLP was registered by LAS the same company that created Mr Abramovs limited company (Advanced Cash Ltd) and his
    Scottish Limited Partnership (ADV Bill LP).
    ADV Cash had processed a significant number of transactions and volumes using BTC-e, and even after the scandal they onboarded and processed transactions for WEX, which is publicly known to be the successor of BTC-e. WEX ex-administrator Dmitry Vassiliev has been arrested recently. WEX became the property of the boss of a Russian separatist armed militia in Ukraine, Dmitry Khavchenko. WEX has also documented ties to Konstantin Malofeev, a close relationship of Vladimir Putin, and, according to a BBC investigation, WEX has also ties to the Russian FSB.
    A lot of useful information is available on
    The technical documentation of ADVASH mentions WEX integration.
    In 2020 it was discovered that ADV Cash had onboarded a merchant
    SuperForex, an offshore forex company owned by Mr Ildar Sharipov, and connected to a
    network of offshore forex companies (Instaforex etc.) and several individuals who are
    connected to shady or criminal enterprises.
    Mr Ildar Sharipov was identified as the UBO of SuperForex and our investigations have
    found the following information and connections were determined by a combination of
    public or leaked information in the public domain. Ildar Sharipov founded Instaforex
    (currently operating and, the former being blacklisted by
    multiple regulators inter alia Bulgaria and France and the latter being licensed by the CySEC
    but recently fined for non-compliance with AML regulations –
    together with Sergey Mayzus, who has been involved at different extents in multiple
    scandals through his huge network of businesses (OKPay was involved with BTC-e scandal
    and just recently the FinCEN links had Mazayus Holdings as the most mentioned company in
    the leaked SARs, he is also connected to a network of other forex websites e.g. LiteForex).
    Instaforex was originally operated by Instatrade Corporation who entered a Consent Order
    with the DOJ for providing unlicensed services to US customers –
    Instaforex in Europe is managed by Instant Trading EU Ltd who is regulated by SySEC, Instant
    Trading EU Ltd also operates that employs a similar tactic that we see
    repeated throughout companies connected to those individuals – having 2 entities one
    properly licensed and a clone one operated by an offshore company (or a web of
    companies) to create a sense of legitimacy. Similar thing is observed by Mr Ildar Sharipov’s
    EMI whose license was revoked by the FCA in 2018 – Megatransfer operated by Online
    Currency Corp Ltd the company has remained active and can now be found to operate a
    forex website that boasts a fake MFSA license *again the website has disappeared and is no
    longer accessible following our investigation* ( There is also an
    FCA notice regarding Online Currency Corp (clone firm) approaching investors and having
    unlicensed activities (
    firm). Another connection is that while Online Currency Corp was licensed it had an
    agent based in Bulgaria Currentec EOOD, who now operates a Forex website that’s quite
    clearly not real as the ‘about me’ section still had placeholder text at the time it was
    originally accessed in September 2020, however the website has now disappeared from the
    internet ( Another agent of Online Currency Corp was Grizzio Ltd
    (again owned by Ildar Sharipov), however Grizzio Ltd shared the same address with Ezyfx
    operated by Ezy Group Limited – with a target market in Malaysia but operated by an
    unlicensed UK company. On top of that Ezy Group Limited was Dissolved on 7th January
    2020 while the website remains active with the same company information at the
    footer clearly misleading visitors. While this could be a coincidence since this is a virtual
    office address, we have noticed that when using addresses or incorporators a lot of the
    related unlicensed forex websites while using different people they like to use the same
    addresses or incorporators in different jurisdictions. This is most likely because having such
    a large turnover of companies (A lot of the websites remain the same but the “operated by”
    section changes quite often).
    A lot more details can be found at
    Ildar Sharipov, the ultimate beneficiary owner of SuperForex and Instaforex, is under
    criminal investigation in the UK and has had assets confiscated by the Crown for money
    laundering. His financial license in the UK has also been suspended, due to multiple
    allegations of fraud and money laundering, including the type of one, involving Estonian
    companies, which has been documented here:
    and there has been a notice from the Estonian authorities regarding this relevant company:
    Here are several links to different regulators or other sources about the fraudulent nature of
    Instaforex and related entities:

  3. good

    Totally reliable! will recover all your loses to online trading scams,, trust me

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Legal Entities

Advanced Cash Limited
ADV Project Limited
Payean Finance Inc..

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