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Seized #domains : PaxForex.com shut down

The CFTC charged PaxForex, a foreign exchange trading platform with offering illegal transactions in ether, litecoin and bitcoin.

Operating from the domain PaxForex.com, the Forex platform operated from a shell company in St. Vincent and the Grenadines.

According to the complaint, from at least March 2018 to present, PaxForex offered or engaged in unlawful retail commodity transactions in ether, litecoin, bitcoin, gold, and silver. The defendant violated the CEA by failing to conduct these transactions subject to the rules of a board of trade that had been designated or registered by the CFTC as a contract market.

The complaint further alleges that PaxForex, through its employees and agents, acted as an FCM by soliciting and accepting orders for retail commodity transactions. Additionally, the defendant acted as the counterparty for these transactions and extended credit or accepted money, securities, and property in the form of bitcoin and other assets in exchange for margin trades or contracts. Despite acting as an FCM, the defendant failed to register with the CFTC as required.

The web site at PaxForex.com has now been changed to the following image:

The PaxForex .ORG web site appears to still be functioning.


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