The Wallex Web of Fraud

The Wallex Web of Fraud #

Wallex hides behind a web of fraudulent incorporations that have been cleverly set up to operate without any real jurisdiction, making it more difficult for its victims to pursue judicial actions against the group entity. Below, we outline some of the key incorporations associated with Wallex and their purported functions:

Canada #

Wallex Custody Ltd.

  • Registration Number: BC1314228
  • Registered Address: 5307 Victoria Drive #562, Vancouver, BC V5P 3V6, Canada
  • Description: Registered as a Money Service Business with FINTRAC, Wallex Custody Ltd. provides payment services. Previously known as: FINGUARDIAN FINANCE LTD.

Wallex Pay Ltd.

  • Registration Number: 1347445-3
  • Registered Address: 5307 Victoria Drive #839, Vancouver BC V5P 3V6, Canada
  • Description: Also registered as a Money Service Business with FINTRAC, Wallex Pay Ltd. offers prepaid payment cards.

Lithuania #

Wallex Custody UAB

  • Registration Number: 305917529
  • Registered Address: Laisvės pr.60, Vilnius, Lithuania
  • Description: Registered as a Depository virtual currency wallet operator and Virtual currency exchange operator, this entity provides digital asset custody, deposit, withdrawal, and exchange services.

Bulgaria #

Wllx Digital Solutions EOOD

  • Registration Number: 206359769
  • Registered Address: pl. Positano 1, Sofia, Bulgaria
  • Description: Registered for the provision of services for exchange between virtual currencies and fiat currencies, and as a wallet provider that offers custodial services. This entity provides fiat top-up services for your account by card.

Czech Republic #

Wallex Asset Management s.r.o.

  • Registration Number: 11774908
  • Registered Address: Rybná 716/24, Staré Město, 110 00 Praha, Czech Republic
  • Description: This entity offers PRIME, Custody, Vault Services, Crypto Saving (Crypto Only), and Crypto Loans.

Struck Off Incorporations #

Wallex also has several incorporations that have been struck off due to their inability to fulfill renewals on time, resulting in debts and legal issues in various jurisdictions, such as the United States (where certain crypto activities are prohibited) and the United Kingdom. These failures highlight the instability and unreliability of the Wallex operations.

Questionable Jurisdictions #

Wallex has multiple incorporations in highly questionable jurisdictions such as the Comoros. By operating in offshore jurisdictions, Wallex is able to sign dubious business contracts that protect them from legal actions, making it even more challenging for victims to seek justice.

Simone Mazzuca’s Background #

Simone Mazzuca Location in Spain

Simone Mazzuca, the mastermind behind Wallex, has a history of failed businesses and fraudulent activities. Most notably, he has defrauded many investors and innocent clients in Tenerife, Spain. His prior ventures have left a trail of financial destruction, showcasing a pattern of deceit and manipulation. More details about his fraudulent activities and background can be found in the chapter dedicated to the man behind the fraud, Simone Mazzuca.

Conclusion #

The intricate web of incorporations and strategic placements in various jurisdictions is a deliberate attempt by Wallex to evade legal scrutiny and continue their fraudulent operations. Our ongoing investigation aims to unravel these complexities and provide clear, actionable information to those affected by these scams. Stay tuned as we continue to expose the full extent of Wallex’s deceitful practices and bring justice to their victims.

Continue reading to uncover more about the fraudulent operations of Wallex and the strategies they employ to evade accountability.