In a stunning revelation, SoftSwiss—the multi-billion-dollar B2B platform behind some of the most well-known online casinos—is facing mounting allegations of running an illegal, unlicensed payment network for offshore gambling operators. Whistleblower reports and investigative findings point to the company’s Malta-based subsidiary, Stable Aggregator Ltd. (MGA/B2B/942/2022), as the central hub behind a sophisticated money-laundering operation that stretches across multiple jurisdictions where gambling is strictly prohibited. These revelations paint a picture of a company deliberately skirting regulatory frameworks to facilitate illegal gambling, while enriching its top executives in the process.
SoftSwiss, which has long positioned itself as an innovative tech provider for online casinos, is now under fire for allegedly helping to funnel millions of dollars in cryptocurrency payments to casinos targeting regions such as the UAE, Saudi Arabia, Tunisia, and Qatar—countries where gambling is outright banned or severely restricted. The company’s platform, once marketed as a simple game aggregator and payment processor, is now being exposed as the backbone of a global gambling money-laundering syndicate, with questionable legal and financial dealings at its core.
The evidence is damning: a handful of casinos linked to SoftSwiss—including Rooli, MoonWin, and RollXO—share identical payment systems and merchant identities, which critics argue points to a centralized payment network orchestrated by SoftSwiss itself. These casinos, many of which are operating under questionable Curaçao and offshore licenses, utilize crypto payment processors like CoinsPaid and CryptoProcessing—both run by Dream Finance OÜ, an Estonian company with direct links to SoftSwiss founder Ivan Montik.
Montik, along with executives Pavel Kashuba and Maksim Trafimovich, is named in whistleblower leaks as being complicit in orchestrating this shadow payment system. Industry insiders claim that these top SoftSwiss executives have long known about, and possibly enabled, this unlicensed payment infrastructure to run unregulated transactions for illegal casinos operating outside the boundaries of the law. While Montik has built SoftSwiss into a cryptocurrency powerhouse, critics argue that his actions are now catching up with him as the company’s ties to illicit gambling operations come to light.
At the heart of the scandal is the claim that SoftSwiss’ payment ecosystem is structured in such a way that allows operators to bypass anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. The casinos using SoftSwiss’ platform allegedly employ layered payment channels, with cryptocurrency rails enabling them to obscure the true origin and destination of funds. The use of open banking gateways, instant SEPA transfers, and questionable hybrid crypto-fiat mechanisms further deepens the web of transactions that evade scrutiny.
The company’s controversial business practices come as no surprise to some in the industry, who have long suspected SoftSwiss of operating on the fringes of the law. While it has a valid license in Malta under the MGA, allegations suggest that Stable Aggregator Ltd. is not only violating its licensing terms but is actively facilitating payments for blacklisted and unlicensed casinos—many of which are targeting highly regulated jurisdictions. According to industry insiders, the interconnectedness of SoftSwiss’ payment network and the offshore operators it services has created a near-impossible task for regulators trying to crack down on illegal activity.
The Maltese Gaming Authority (MGA) has yet to publicly comment on these serious claims, but the scale of the operation and the involvement of high-profile figures within SoftSwiss make this case one to watch. As global scrutiny intensifies, the question remains: how much longer can SoftSwiss continue to operate under the radar, making millions while facilitating illicit operations? If the allegations hold true, SoftSwiss will face not just a regulatory backlash, but potential legal consequences that could reverberate across the online gambling sector.
In the coming weeks, regulators across Europe, the Middle East, and North Africa are expected to ramp up investigations into SoftSwiss’ practices. The company’s top brass—Montik, Kashuba, and Trafimovich—may soon find themselves in the crosshairs of both financial watchdogs and law enforcement agencies. The empire they’ve built on gambling innovation could very well crumble if the evidence of their involvement in illegal gambling and money laundering continues to mount.
This scandal is far from over, and the next chapter in the SoftSwiss saga may be its darkest yet. As the tide turns, the world is left to wonder: how far did SoftSwiss go in enabling illegal gambling, and will the authorities finally bring the company’s leadership to account for their alleged role in facilitating a global money-laundering operation?
