Dexopay
Key Data:
- Trading Name: Dexopay
- Legal Entity: OCTOPUSPAYS LIMITED/Dexopay OÜ
- Activities: Crypto Company
- Location: Tallinn, Harjumaa
- Regulations: FINTRAC registered (Canada)
- Key People: Raitis Kaucis
Offering:
Dexopay is a Toronto-based multi-cryptocurrency wallet, in-wallet exchange, and merchant payment processing API service provider. The Dexopay.com wallet enables individual and business customers to store, send, accept, instantly exchange, and pay with BTC, ETH, and USDT.
Services:
- Crypto Wallet
- Merchant API
- Auto Trading
- Exchange Transaction
Industries:
- High Risk: Crypto
Regulation:
Registered as a Money Services Business (MSB) at FINTRAC for:
- Foreign exchange dealing
- Money transferring
- Dealing in virtual currencies
It is imperative to note that while Dexopay is registered as a Money Services Business (MSB) with FINTRAC for foreign exchange dealing, money transferring, and dealing in virtual currencies, such registration does not inherently denote comprehensive regulatory oversight.
Compliance Problem
Dexopay is currently facing a significant compliance issue stemming from its association with MinerSale and its key figure, Raitis Kaucis. The compliance concern arises from the alleged involvement of Kaucis in the dubious operations of MinerSale, a venture characterized by reports of non-functional or fraudulent business models during the 2017 cryptocurrency boom.
The controversial nature of MinerSale, labeled as a “phony bitcoin cloud mining site” and a “classic scam,” has raised serious doubts about the legitimacy of associated projects and individuals, including Raitis Kaucis. The urgent call for insider information regarding MinerSale’s operations has intensified the scrutiny on entities linked to Kaucis, including Dexopay.
The potential legal ramifications and the ongoing investigations into Kaucis’s involvement in vanished crypto scams such as GagaPay and Cryptokesh further compound the compliance concerns. Reports suggest that criminal proceedings are underway against Kaucis in multiple countries, raising questions about the overall regulatory adherence and ethical standards associated with Dexopay.
Customer Reviews:
- Trustpilot: 3.5 Stars with 9 Reviews
Conclusion
The recent revelations concerning MinerSale and its links to Raitis Kaucis have prompted a heightened scrutiny of associated ventures, including Dexopay. With a “Red” alert rating, users and stakeholders are strongly advised to exercise caution, conduct thorough due diligence, and be vigilant when engaging with Dexopay or its affiliated services. The ongoing call for insider information further emphasizes the collective effort to uncover potential financial misconduct and protect individuals from associated risks.
