A recent investigative report by FinTelegram has uncovered alarming evidence that the Canadian cryptocurrency exchange Cratos (cratos.net), operated by Blue Whale Tech Inc., may be involved in facilitating large-scale cybercrime activities and money laundering for Georgian fraud networks.
🔍 Key Findings from the FinTelegram Report
🔴 Direct Involvement in Fraudulent Transactions
- Cratos is alleged to have processed nearly $350,000 in cryptocurrency transactions from victims of a Georgian cybercrime network.
- These victims were deceived by fraudulent investment platforms and call center scams, a tactic frequently used by organized crime groups operating in Eastern Europe.
🔴 Evidence of Money Laundering via Blue Whale Tech
- Leaked bank transfer records indicate that Blue Whale Tech Inc. received over £386,000 and €206,000 from at least 20 victims across the UK, Spain, and Ireland in a seven-month period.
- Victims were given Cratos-issued declarations falsely confirming that their fiat deposits would be converted into Bitcoin on the platform—a classic case of money laundering through crypto exchanges.
- One British victim reported losing £30,000 and €77,000 in total, stating that law enforcement was unable to intervene due to Cratos’ offshore status.
🔴 Cratos’ Suspicious Business Practices
- Cratos officially claims that it serves only individual customers and has no ties to call center fraud or business clients. However, FinTelegram’s findings contradict this statement.
- When FinTelegram reached out for a response, Cratos briefly replied but quickly deactivated its official email account, a highly suspicious move for a legitimate financial services provider.
⚠️ Why This Matters – Potential Risks to Users
🚨 Legal and Regulatory Uncertainty
Cratos operates as a FinTRAC-registered entity in Canada, meaning it is subject to AML (Anti-Money Laundering) compliance laws. However, its alleged role in facilitating fraudulent activities raises serious concerns about potential regulatory action. If authorities intervene, users may lose access to their funds without warning.
🚨 Funds Could Be at Risk
The involvement of Blue Whale Tech in suspicious transactions suggests that Cratos may be misusing customer deposits. If the platform is shut down or implicated in a criminal investigation, users could lose their assets permanently.
🚨 Potential Collapse or Regulatory Crackdown
With mounting media scrutiny and legal risks, Cratos could face:
- Frozen accounts or blocked withdrawals
- Regulatory shutdowns or fines
- Complete platform collapse
📢 What You Should Do Immediately
✅ Avoid Depositing Funds – If you hold funds on Cratos, withdraw them immediately.
✅ Verify Past Transactions – Check your financial records for any suspicious transfers linked to Cratos or Blue Whale Tech Inc.
✅ Report Suspicious Activity – If you suspect fraud, contact local financial regulators and cybercrime units.
✅ Stay Updated – Follow FinTelegram and reliable financial sources for ongoing developments.
🕵️ Insider Information Wanted
FinTelegram is actively investigating Cratos, Blue Whale Tech Inc., and their connections to cybercrime networks. If you have inside knowledge about:
- Cratos’ operational structure
- Its partnerships with financial intermediaries
- AML policy failures
- Victim accounts or legal disputes
You are encouraged to report securely through FinTelegram’s anonymous tip lines.
🚨 Final Warning
Cratos may be actively enabling cybercriminal networks through its platform. Given the growing evidence, using Cratos is an extremely high-risk decision.
⚠️ Do not trust Cratos with your money. If you are a victim, act now to protect yourself. ⚠️