A Russian owned UK-based company is in the middle of a corruption scandal that involves the name of one of the largest cryptocurrency exchange. Anti-corruption NGO, Global Witness, has found fresh evidence that proves that UK-based Mayzus Financial Services (MFS) has links with cryptocurrency exchange BTC-e, which is presently at the center of a US money laundering case.
The exchange is being investigated for having being used by the Fancy Bear hacking group, which has the backing of the Russian government, to pay hackers to carry out a cyberattack. In the past, too, BTC-e has been under the surveillance for allegedly operating international money laundering racket and laundering capital from the hack of Mt. Gox.
BTC-e was one of the largest and oldest cryptocurrency exchanges in the world. Since it started operation in 2011, it has handled token transactions of more than $9 billion. The exchange permitted trading between U. S. dollar, Russian ruble and Euro currencies, and cryptocurrencies, Bitcoin, Litecoin, Namecoin, Novacoin, Peercoin, Dash and Ethereum.
Mayzus Financial Services Ltd. is a company owned by Russian businessman Sergey Mayzus; it is based in Cyprus. MoneyPolo is a brand of Mayzus Financial Services Ltd, which is operational in 130 countries and has around 400,000 branches around the world. The company deals with cross border money transfer and is popular for its safe, instant, and reasonable service charges.