Investor Warning – Estonian Blix Group and Praxis Cashier

The UK Financial Conduct Authority (FCA) has issued an investor warning against the Blix Group ( According to the information on the website, the unregulated broker is operated by AlephLink Solutions Ltd OÜ (Companies Register) a company registered in Estonia. The company, in which Efthymios Marangos (born Sept 1989) is the only active director, has apparently acquired one of these worthless crypto-financial licenses in Estonia.

Another Estonian Scam

This Estonian license costs a few thousand Euros and is used by dozens of forex and crypto scammers. Our FinTelegram Research team cannot understand why the Estonian authorities are so negligent in granting and monitoring these crypto licenses.

Praxis does it again

As the scheme’s payment processor, Praxis ( once again pops up. As a matter of fact, there is currently hardly a forex and broker scam where this unregulated Cypriot payment processor is not involved. Praxis Chashier System Ltd, founded by Amit Klatchko (LinkedIn profile) has positioned itself in the scammers’ choice for its easy to connect with. KYC/AML/CTF are apparently not well-known terms with Praxis. Potential customers of brokers should therefore not enter into a business relationship with providers who have integrated Praxis as payment processors.

Share information

If you have information about the Blix Group and/or Praxis or other scams and broker schemes, please share this knowledge with our FinTelegram Research Team via our whistleblower system.

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