OctopusPays

[JohnnyDoe]

Does anyone know about this company?

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octopuspays.com

I just received this email:

we are pleased to inform you that we have a new package targeted at crypto/gaming/gambling/betting clients.

The package includes:

· Payment accounts in EUR/USD;

· Worldwide payments with SWIFT / SEPA EU zone;

· Free transfer of funds worldwide (between Octopuspays/Dexopay customers)

·Friendly crypto exchange BTC/ETH/USDT to USD and EUR / OTC: EUR – USDT – USD and EUR – BTC – USD

 

[ilke]

This company is a bit of a waste of time, because it's operations are similar to the beloved (haha) Russian-backed EQIbank. In exactly the same manner as EQIbank (and a lot of others), they have accounts in the name of a Singaporean shell company, where when you receive payments, the beneficiary is their Orec Pte. Ltd. or OctopusPays itself. "Instruct the sender to input your Your Company’s Name; Your Company’s unique User ID; Invoice No. as the comment for the transaction"

Even worse, the account is not at a bank (like DBS Bank SG with EQI), but at Mistertango! Probably (and unfortunately, because of their mistakes in not fulfilling regulatory requirements) the least trusted Lithuanian EMI.

Can you send and receive EUR and USD by SEPA and SWIFT? Yes. But not in your name.

And I think that's enough to show the professionality of this company which isn't even properly licensed for the issuing of electronic money (and isn't even an EMD Agent, partner of an EMI, or at least a Comoros bank. Nothing. Nada.)