What is OxaPay?
OxaPay markets itself as a cryptocurrency payment gateway and crypto wallet integrated with Telegram. Their wallet has built-in support for Bitcoin, Ethereum, Solana and other cryptocurrencies. While its Telegram-based wallet appeals to Telegram users, numerous reports show their unacceptable business practices, including sudden account freezes, stolen funds, and poor customer support. It's highly recommended to avoid interacting with OxaPay due to the numerous red flags and user complaints about its operations. Instead of risking your hard-earned money with an unreliable platform, consider using reputable alternatives.
The Truth Behind OxaPay Scam: Selective Scamming
Selective scamming involves a platform looking legit for the majority of users while secretly defrauding others. This fraud method is unfortunately popular among crypto scammers. The platform executes small payments without problem, that helps to create trust for the community. However, once the amount exceeds scammer's threshold, your funds get frozen. While OxaPay’s promises of low fees and seamless transactions may seem appealing, you should be aware of that your funds are not safe as they are known for selective scamming.
Here is an example "selective scamming" by OxaPay, merchant was able to collect payments without an issue at the beginning. After big payments, funds are blocked permanently and OxaPay's support team never replied. These types of scams are very harmful to the crypto ecosystem because they undermine the motivation of stores to accept cryptocurrencies.
The Reverse of the Medal: Crypto Investment Scams
OxaPay commits fraud by selectively scamming merchants however that's not the all. Platform is being used by fake crypto investment platforms to process crypto deposits. According to blockchain analysis firms, OxaPay is the most popular payment gateway that is being used by crypto investing scams.
This invoice is archived, you can check it yourself here: https://archive.ph/2NXTg
Crypto payment processors have a responsibility to verify the legitimacy of their merchants' platforms, yet OxaPay has been found providing services to fake investment platforms. There are multiple reports about OxaPay merchants that are scamming their investors. It’s also a significant risk for legitimate merchants, as their funds could become mixed with money tied to scammers, potentially leading to frozen accounts, legal complications, and reputational damage.
Risks of Using OxaPay Scam Payment Gateway
Scam platforms are growing concerns, with their illegal activities reported to various crime databases worldwide. Engaging with such platforms, like OxaPay, can put your digital assets at serious risk. Not only could you lose your funds, but your wallet address may also get flagged by reputable exchanges. You should avoid interacting with scammers to prevent any future problems.
Who is behind the OxaPay scam?
OxaPay website is runned by a criminal gang consisting of Iranian and Russian cybercriminals. Website itself doesn't contain any information about legal entity behind the operation. According to the blockchain analysis, OxaPay is one of the platforms that launders cryptocurrencies stolen by Iranian cybercrime gangs.
Their team members try to hide identity by using fake western names. Following Telegram accounts are owned by members of OxaPay fraud gang: @danielsup @Frank_oxasup @Sara_opy
Is it secure to use OxaPay for small payments?
Even though they are known for scamming larger payments, it’s never wise to trust a shady platform, as the risks far more than any potential benefits. Interacting with their shady wallets could lead to your wallet being flagged, causing serious complications with exchanges and potentially freezing your assets.
I have been scammed by OxaPay, what should I do?
Please contact your local authorities as soon as possible and report the incident with proofs (screenshots, wallet addresses). Crypto payments are irreversible but reporting the crime to authorities will help to protect others.