Russian-controlled crypto payment processor Mercuryo is experiencing challenging times as it faces a significant drop in website traffic and ongoing legal disputes. The company recently initiated a SLAPP (Strategic Lawsuit Against Public Participation) action against FinTelegram, which resulted in a court ruling against Mercuryo in the first instance. These developments raise concerns about the company’s ability to focus on its core business and address its legal challenges effectively.
Declining Website Traffic
According to a Similarweb analysis conducted on June 28, 2023, Mercuryo’s website traffic has plummeted by nearly 50% in the last three months. China currently represents the most important country for the company, accounting for over 33% of website hits. However, between March and May 2023, the number of website hits dropped by almost 50%. In May, only 457,000 visitors accessed the Mercuryo website, indicating a significant decline in user engagement.
Implications of SLAPP Campaigns
The decision to engage in SLAPP campaigns against media outlets, such as FinTelegram, may have adverse consequences for Mercuryo. By pursuing legal actions against media organizations, a company exposes itself to public scrutiny and amplifies the discussion of its affairs in the public domain. Consequently, this could potentially harm Mercuryo’s reputation and undermine its credibility among potential customers and partners.
Caution for Merchants
Given Mercuryo’s declining website traffic and ongoing legal disputes, merchants considering processing payments through the company should exercise caution. The current state of affairs raises concerns about the stability and reliability of Mercuryo’s services. Merchants should carefully evaluate the risks associated with partnering with a payment processor facing significant operational and legal challenges.
Mercuryo, a Russian-controlled crypto payment processor, is grappling with a notable decline in website traffic and ongoing legal disputes. The company’s decision to pursue SLAPP campaigns against media outlets may have unintended consequences, potentially impacting its reputation and business prospects. Merchants intending to utilize Mercuryo’s services should weigh the risks associated with partnering with a company facing such challenges. It remains to be seen how Mercuryo will navigate these difficulties and whether it can restore confidence in its operations and legal standing.
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