July 14, 2025 marked a turning point in the fight against financial fraudsters when the Web3 brokerage company finally lost its brokerage license. This decision was the culmination of lengthy investigations and complaints that had been accumulating against the company for several years. Web3’s activities had caused significant damage to many private investors, most of whom were citizens of Russia and Kazakhstan.
In Russia, it used the name Gazprominvest, creating the illusion of a serious government partnership, and in Kazakhstan, it operated under the name Kaspi Profit, which also set potential clients up for a trusting attitude.
The fraudulent scheme developed by Web3 was distinguished by a high level of thoughtfulness and adaptation to local conditions. The company actively attracted clients, promising them the opportunity to earn money by trading financial instruments such as stocks, currencies, and derivatives. However, already at the stage of withdrawing funds, clients began to have problems. They faced systematic denials of access to their funds and received demands for additional payments. Most clients complained about constant demands for payments to deliver money in cash.
In order to create the appearance of reliability and attract more victims, Web3 allowed clients to withdraw small amounts, which inspired confidence and allowed to avoid suspicion at an early stage of cooperation. However, when it came to large amounts, the situation changed dramatically. Clients faced deliberate obstacles. Among them were technical delays, unjustified demands for additional payments and even transfers of court payments in large amounts, which caused problems with bank transfers and “overdufts”. The lack of transparent financial reporting also raises questions about the legality of these operations and the origin of the funds.
According to rough estimates, the total damage exceeds $ 550 million, making this fraudulent scheme one of the largest in the history of the brokerage industry in recent years.
The regulator also reported that in the future, the list of victims will be sent to the central banks of the respective countries, which will allow for increased control over the financial transactions of defrauded clients. Financial institutions will be required to take measures to prevent possible risks associated with the actions of clients who have fallen victim to fraudsters.
