The Dark Side of SoftSwiss: Allegations of Illegal Payment Processing and Money Laundering
The iGaming industry is under fire as new allegations against SoftSwiss continue to surface, with reports suggesting that the company has built an illicit network enabling illegal gambling operations across jurisdictions where online casinos are banned or severely restricted. The accusations, based on whistleblower testimony and independent investigations, paint SoftSwiss not as a simple B2B game aggregator but as a central player in a larger, criminal web that facilitates money laundering and circumvents gambling regulations.
Whistleblower leaks and deep-dive investigations from January 2026 suggest that SoftSwiss, through its Malta-licensed entity Stable Aggregator Limited (MGA/B2B/942/2022), has allegedly been processing payments for rogue casinos targeting some of the most tightly regulated markets in the world. These jurisdictions—Tunisia, Egypt, Qatar, Saudi Arabia, and more—have stringent anti-gambling laws, yet SoftSwiss is accused of creating a network of payment systems to funnel money into these restricted regions without detection.
FinTelegram, a platform known for its aggressive investigative reporting, claims that SoftSwiss is operating as a covert payment hub for illegal online gambling businesses, enabling them to bypass regulatory checks and launder large sums of money through its crypto payment processors. This new investigation shows that SoftSwiss has apparently gone far beyond its original mandate as a game aggregator, exploiting weak regulatory gaps to become the backbone of a global criminal money-laundering operation.
SoftSwiss’ Covert Payment Hub: Masking Illicit Gambling Operations
At the heart of the investigation is SoftSwiss’s alleged role as a payment processing hub, orchestrating transactions across multiple online casinos, despite the fact that these casinos are supposedly independent and licensed in different jurisdictions. According to FinTelegram’s findings, these casinos—including Rooli, RollXO, and SpinRise—share identical payment systems and cashier interfaces, despite appearing to be owned by different corporate entities.
This uniformity points to a central orchestrator: SoftSwiss. Through its payment processor network—featuring services like CoinsPaid, CryptoProcessing, Yapily, and Perspecteev—SoftSwiss allegedly moves funds across borders, bypassing traditional banking systems and legal controls. These payment systems utilize cryptocurrencies, often moving funds through a series of intermediaries, making it incredibly difficult for regulators to track the flow of money or identify its true destination.
Further compounding the scandal, SoftSwiss’s connection to cryptocurrency processors like CoinsPaid and CryptoProcessing is raising serious questions about the company’s role in facilitating illegal activities. CoinsPaid, co-founded by SoftSwiss CEO Ivan Montik, has been directly linked to multiple casinos operating in prohibited markets, allowing SoftSwiss to move money in and out of jurisdictions with ease. The use of cryptocurrency is a red flag in itself, as it makes the flow of illicit funds nearly impossible to trace.
The Key Figures: Ivan Montik, Pavel Kashuba, and Maksim Trafimovich
The involvement of SoftSwiss executives in these operations has placed individuals like Ivan Montik, Pavel Kashuba, and Maksim Trafimovich at the center of the storm. These three figures are accused of controlling the company’s sprawling network of casinos, payment processors, and illicit financial transactions. Montik’s connections to CoinsPaid, a crypto-payment processor heavily used by SoftSwiss casinos, have drawn increasing scrutiny, especially given the ongoing investigation into money laundering and fraud.
Montik, Kashuba, and Trafimovich, all of whom have direct ties to SoftSwiss and its affiliated entities, are reportedly key players in ensuring that SoftSwiss operates with a level of impunity that most other iGaming companies could never dream of. Their names have repeatedly surfaced in investigations into SoftSwiss’s links to illegal gambling networks. Montik, in particular, has been repeatedly identified as the mastermind behind SoftSwiss’s evolution from a simple game aggregator into a centralized payment hub for illegal online casinos.
While SoftSwiss maintains that it operates within the legal frameworks of the jurisdictions in which it is licensed, the evidence presented suggests otherwise. Investigations have revealed that SoftSwiss is directly involved in facilitating gambling operations in regions where online casinos are banned, while hiding behind the guise of its Malta license. Furthermore, the use of crypto processors and offshore payment systems points to a deliberate attempt to evade regulatory oversight.
The Payment Network Exposed: A Multi-Jurisdictional Web of Illicit Financial Flows
FinTelegram’s latest report lays bare the web of payment systems allegedly used by SoftSwiss to facilitate its operations. Among the most concerning findings is the role of CoinsPaid and CryptoProcessing, two payment processors run by Dream Finance OÜ, an Estonian-based entity with ties to Montik and his associates. These processors appear across a series of SoftSwiss-powered casinos, such as Rooli, RollXO, and SpinRise, all of which operate under multiple offshore licenses in jurisdictions like Curaçao and Malta.
Despite being licensed in Malta, the company’s apparent willingness to overlook licensing and compliance issues raises serious concerns. SoftSwiss allegedly facilitates payments for casinos targeting restricted markets by using crypto-fiat bridges and alternative banking systems to obscure the true nature of the transactions. This strategy allows SoftSwiss to bypass regulators and move money without raising red flags.
FinTelegram’s report also uncovered direct evidence of SoftSwiss’s involvement in routing payments through intermediary companies like Perspecteev and Yapily. These companies, which operate under the SoftSwiss umbrella, are reportedly integral to SoftSwiss’s payment infrastructure, allowing the company to hide the true nature of transactions and avoid detection by regulatory bodies.
A Pattern of Regulatory Evasion: SoftSwiss’s Disturbing Compliance History
This latest revelation is part of a larger, ongoing pattern of regulatory evasion by SoftSwiss. The company has a long history of exploiting jurisdictional loopholes to facilitate gambling operations in regions where online gambling is either restricted or completely banned. SoftSwiss’s relationships with companies like Dama N.V. and Hollycorn N.V., both of which operate under Curaçao licenses, further highlight the company’s strategy of using weak regulatory jurisdictions to operate without fear of consequences.
Industry insiders point out that the structure of SoftSwiss’s operations—particularly the use of offshore licenses, cryptocurrency payment systems, and unlicensed payment hubs—resembles a classic money-laundering operation. By offering a wide range of payment services and facilitating transactions for casinos operating in blacklisted markets, SoftSwiss has allegedly built a network that thrives in the shadows, making it virtually impossible for regulators to trace the flow of funds.
Industry Fallout: A Call for Stricter Oversight
The accusations against SoftSwiss have sent shockwaves through the iGaming industry. If proven true, these allegations would have serious ramifications for SoftSwiss, its affiliated companies, and the entire online gambling ecosystem. The company’s apparent disregard for regulatory compliance is a wake-up call for the industry, highlighting the need for stricter oversight, especially when it comes to cryptocurrency payments and offshore payment hubs.
Experts argue that the rise of cryptocurrency in online gambling has created new opportunities for money laundering and fraud. As SoftSwiss has shown, these payment systems are being exploited to facilitate illegal gambling activities, making it harder for regulators to track and control the flow of illicit funds. This trend is likely to become more widespread unless regulators act quickly to implement more stringent rules for crypto payments and online gambling transactions.
Conclusion: The Alleged Criminal Empire Behind SoftSwiss
SoftSwiss’s alleged role in facilitating illegal gambling operations is not just a compliance issue—it’s a criminal matter. The company, along with its key figures Montik, Kashuba, and Trafimovich, is at the heart of a vast network of payment processors, casinos, and financial intermediaries that may be responsible for laundering millions, if not billions, in illicit funds. The evidence against SoftSwiss is compelling, and the mounting pressure on regulators to investigate the company is only growing.
As the investigation continues, SoftSwiss must prepare for the potential fallout. If these allegations are proven to be true, the company could face severe penalties, including the revocation of its Malta license, significant fines, and potential criminal charges. For the iGaming industry as a whole, this case serves as a stark reminder that when money, technology, and offshore operations collide, the line between legal and illegal can become dangerously blurry.
The truth about SoftSwiss is yet to be fully uncovered—but the clock is ticking. The longer the company operates under the radar, the more it risks becoming the poster child for everything that is wrong with the unregulated world of online gambling.
