WeFi securities fraud warning from Germany
WeFi has received a securities fraud warning from Germany’s BaFin.
As per BaFin’s February 3rd WeFi warning;
BaFin is warning against offers on the website wefi(.)co. According to the financial supervisory authority, banking transactions and cryptocurrency services are being offered there without authorization.
According to available information, promotional events have been held in Germany, at least in the past.
The companies responsible for operating the website and providing the services offered are Wefi Payments Limited, Calgary, Canada; SRL, San José, Costa Rica; Nordpal Holding Limited; and Quantum Capital Holdings Limited, both of Hong Kong.
WeFi is an unregistered MLM crypto investment scheme based out of Dubai. In an attempt to downplay ties to Dubai, WeFi is run through Costa Rica and Hong Kong shell companies.
Fronting WeFi is tether founder and former CEO Reeve Collins.
Maksym Sakharov and Roman Rossov are random Ukrainian crypto bros. Khaled Suleiman is believed to be WeFi’s money guy and Yusuf Mirakhmedov is a wanted fugitive.
As of December 2025, SimilarWeb was tracking ~407,000 monthly WeFi website visits.
Top sources of WeFi website traffic are France (28%), the US (23%), Italy (19%), Japan (9%) and Germany (5%).
Damn. Seemed like it was going well with this one.
Thank you Oz.
13 WeFi videos on the YouTube channel of German serial fraudster Thomas Adamec from Fürth, who has also been a very active Cryptex/Bytnex scammer since May 2024. I have already mentioned his name in numerous comments.
postimg.cc/dh9hpXYQ
youtube.com/playlist?list=PLmyndcZCqqUZBRzCuK3QSzwE4-jEc4l4D
A photo of this criminal subject.
postimg.cc/jDvjZ7Hs
Thomas Adamec‘s YouTube channel with 375 subscribers and 121 videos.
youtube.com/@PassivesEinkommen819/
Wefi is 100% scam. Why nobody talks about the mastermind Farkhad Shagulyamov.
Together with Yusuf Mirakhmedov and Maksym Sakharov, Farkhad Shagulyamov in cooperation with Gotbit Market Maker whose founder, Aleksei Andriunin already been extradited and jailed, scammed people of millions of dollars with pump and dump schemes involving LAIKA, TEA, WATER, BEER and other tokens.
VELAS $VLX is also huge scam where Farkhad was CEO and then was kicked out. Look into that.
I haven’t heard of the guy. I was able to confirm early WeFi marketing featuring Shagulyamov just now, but he had been scrubbed by the time BehindMLM reviewed WeFi.
No idea if he cashed out early on or is still involved. Today there’s no mention of Shagulyamov on WeFi’s website.