Key Data

• Trading Name: Pradexx
• Legal Entity: Pradexx OÜ
• Activities: Estonian payment processor
• Location: Estonia
• Regulations: working with an FIU crypto license
• Key People: Matan Roee, Boaz Amir, Dari Rishel (Linkedin), Angela Behar

The Estonian payment processor Pradexx OÜ, working with an FIU crypto license, is actually an Israeli payment processor using the Estonian legal entity and crypto license for their EU operations. The company is also the operator of the crypto payment processor NextPayWay (www.nextpayway.com) and allegedly connected to the licensed Estonian crypto payment processor Nymeria (see profile).

The company’s director Boaz Amir is an Israeli citizen, as is its CFO, Matan Roee, its compliance manager Dari Rishel, and its other managers. Angela Behar, who also resides in Israel, is registered as CEO and Co-Founder. Dari Rishel serves as the company’s compliance manager from her office in Israel.

Before joining Pradexx in January 2021, Matan Roee has worked for Israeli broker Leverate Financial Services Ltd, licensed by CySEC with the license number 160/11.

On its LinkedIn profile, at least two more Israeli managers are connected with Pradexx – Luba Shissel Frumson (LinkedIn) and Zack Mehdipour (LinkedIn). Thus it’s fair to assume that high-risk payment processor Pradexx is actually operating in Israel and uses its Estonian entity to address the EU markets with its payment services.

Estonian Karen Gevorkjan, born in February 1984, is also registered as a director in MoneySwap OÜ and NYMERIA OÜ, operating with a crypto license from the FIU. He is expected to work as the required nominee director for the Israeli owners.

Offering

Pradexx provides cryptocurrency exchange services for changing digital currencies such as bitcoin, ethereum, tether, and USD coins.

Scam involvement 

Pradexx has often stood out as a scam facilitator in the various analyses of scams. For example, in the various PumaTS and Leverate scams such as FmiAtlas or RoyalGTX. PumaTS has established its white label broker solution on the Leverate platform and licensed it to scam operators. There seems to be a frictionless partnership between Leverate and Pradexx.

Pradexx was one of the facilitating payment processors of broker scam operator Juno Group Ltd, a member of the PumaTS scam broker network PumaTS, and connected with the scam brands FmiAtlas. The ultimate beneficial owner (UBO) and manager of Juno Group Ltd, a company registered in St. Vincent and the Grenadines in Feb 2020 under the business company no 25771 BC 2020, was the Estonian citizen Julia Krasno, born Dec 1987.

Conclusion

Given its exposed involvement in scams as facilitating payment processor we included Pradexx in the “Red Compliance Light” list.