The Webet & Paysec Saga

webet-closure

On the 3rd of April 2019, major newspapers in New Zealand reported the tragic mishap that took the lives of 50-year-old Gary David Murphy and 55-year-old Trevor Floyd Smith both from the United Kingdom.

Prestige Adventure the high-end adventure company were the organisers for the private, multi-day adventure expedition. According to official police reports, the pair were killed in a quad bike crash near Ranfurly

The aftermath that followed shook the online gaming community, a month later CalvinAyre.Com (https://calvinayre.com/2019/05/10/business/webet-suddenly-shutting-down-manila-office/) reported the closure of the Webet office in Manila.

Other related companies we understand include Sappaya, Paysec, Intrapay, Tappit and Rebus. Investigations show that Sappaya focused primarily on payments with Rebus focusing on gaming.

Paysec is also understood to be tied up in the courts with regards to a large bitcoin transaction worth 35 million euros (https://news.bitcoin.com/u-k-cryptocurrency-exchange-cubits-shuts-down-after-33m-scam/). 

Related: Dooga Limited, an English company, had filed the precautionary warrant against the Maltese company Pay Secure Online Ltd (PaySec), over a dispute that arose following an alleged hack and theft of Bitcoins from three of Dooga’s clients’ virtual wallets.

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Webet is understood to be looking for buyers for its Asian business, with claims that it wants to focus on its European businesses. It is also rumoured that Paysec will close and reappear with a new identity.

Online Gambling in Asia is pretty much the wild west, unlike Europe whereby there are established legal frameworks and legitimate payment providers. In Asia, there are many payment providers but few that are reliable. It will be long before Asia has something like Europe so we at GamingSafe want to keep you safe by actively reviewing such sites. 

Gamingsafe mitigates your risk by evaluating through mystery shopper programmes initiated through reports by our users.

Related: Help2Pay – Southeast Asia’s Payment Leader

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