Whistleblower Information Requested: ContinentPay and Its Alleged Connections to Gery Shalon

ContinentPay Under Scrutiny for Alleged Connections to Gery Shalon
ContinentPay, a high-risk payment processor, is being investigated by PayRate42 for its alleged connections to Gery Shalon, a notorious cybercriminal linked to major cyberattacks on the U.S. financial sector. Shalon is believed to control ContinentPay through MARKET PROMO Sp. z o.o., a Polish company. ContinentPay is reported to process transactions for illegal online betting sites, including Atlantis Slots, which operates unlawfully in Europe. These activities raise significant legal and compliance concerns, highlighting the need for regulatory intervention.

Background on Gery Shalon:
Gery Shalon was arrested in Israel in 2015 and subsequently extradited to the United States. In November 2015, U.S. authorities charged him with organizing extensive cyberattacks on U.S. financial institutions, brokerage firms, and a major news agency. These attacks were unprecedented in scale and impact, resulting in massive data breaches and significant financial losses.

After his confession and the confiscation of over $400 million by U.S. authorities, Shalon returned to Israel in 2022/23. Since then, he has reportedly developed online betting activities within the OX Gaming group. Our information suggests that he also controls ContinentPay, a high-risk payment processor operated by MARKET PROMO Sp. z o.o., based in Warsaw, Poland.

ContinentPay's Operations:

PayRate42´s review indicates that ContinentPay is a player in the high-risk payment processing sector, with nearly 470,000 monthly visitors to its website. According to Similarweb data, almost all visitors are redirected from online betting sites. Notably, the online betting site Atlantis Slots, operated by Pennytech Holding B.V. and licensed in Curaçao, has been identified as the top referrer of traffic to the ContinentPay website in the past 28 days.

Further investigation revealed that customer deposits for Atlantis Slots are processed via ContinentPay using various methods, including debit/credit cards and Binance Pay. UAB Criptomy (company data) is listed as the merchant for Binance Pay transactions, with Mariana Achim registered as the managing director.

Legal and Compliance Concerns:

Atlantis Slots is operating illegally in Europe and other jurisdictions, as the Curaçao license does not permit services in the EEA regions. Letovio Holding Ltd., based in Limassol, Cyprus, facilitating these transactions raises significant legal and compliance issues. It appears that Letovio Holding is receiving illegally obtained funds from EEA players into an EU bank account.

The ongoing investigation into ContinentPay and its alleged connections to Gery Shalon underscores the critical need for rigorous regulatory oversight in the financial and online betting sectors. As authorities delve deeper into the operations and affiliations of ContinentPay, the potential implications for legal and compliance frameworks are profound. This scrutiny not only highlights the importance of transparency and accountability within high-risk payment processing but also reinforces the necessity for international cooperation in combating financial crimes. The findings of this investigation will be pivotal in shaping future regulatory policies and safeguarding the integrity of the financial system.

Stay informed about the ongoing investigations:
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PayRate42 is a rating agency specializing in payment processors. Our main goal is to protect merchants and consumers by providing transparency through the evaluation and rating of financial service providers. High-Risk Payment Processors (HRPP) operating outside the established regulatory framework are our primary focus.

This release was published on openPR.