Investor Warning – FairBit broker scam, Praxis Cashier, and Estonian cypro payment processors

The UK regulator FCA issued an investor warning against the Forex broker Scam FairBit ( on August 4, 2020. The scam is officially operated by Gama Solutions Ltd. registered in St. Vincent and the Grenadines. The scam lures with a super great Fair-Bit Trade engine that would generate large profits for the investors (victims).

Once again the Praxis Cashier System Ltd (d/b/a Praxis Cashier and Praxis Pay) of the Israeli payment veteran Amit Klatchko is acting as the payment processor for the scam. Besides the usual credit and debit cards, crypto payments are also integrated into Praxis Cashier. These are processed via the Estonian crypto-payment processor Bitxtech (

The Bitxtech platform is operated by the Estonian CryptoFactory OÜ. The company has acquired one of the worthless Estonian crypto licenses. Romanas Kalinauskas is registered as the managing director of CryptoFactory OÜ, who is also a registered director at Vulture OÜ. The latter is the operator of the crypto exchange Cratos (, which has also attracted attention in various scams as a crypto payment processor.

It is, unfortunately, a frightening fact that a huge scene of crypto payment processors equipped with an Estonian crypto license has developed in Estonia. Their main purpose of existence is to facilitate scams and cybercrime. The beneficial owners behind these crypto payment processors are mainly Israelis.

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