Customers and those interested in using the recovery services had an unpleasant surprise last week. As of Friday, the 28th of June, the PayBack Ltd website has been seized by the US authorities – FBI and the United States Attorney’s Office for the Southern District of California. 

What’s behind this drastic action? Let’s review the company’s activities and try to understand.

PayBack Ltd and Money Back Ltd – Related Entities

On its currently inactive website, PayBack Ltd presented itself as an Israeli-based chargeback company. Allegedly, the firm helped victims that fell for various online trading scams, such as Forex, binary options, or crypto fraud to recover their money.

Ever since its establishment in 2018, the company has advertised its services on social media, inviting people to report fraud cases and request help. After careful investigation, we found a connection to another similar entity – Money Back Ltd. This can be confirmed through the verified Trustpilot profile, which directs users of Money Back Ltd to the payback-ltd.com website, as well as PayBack Ltd legal documents. If you check the money-back.com domain, you will find that it was also seized by the FBI.

Finally, we found an FCA warning in regard to Money Back and Pay Back Ltd. According to it, Money Back has been operating as a clone of an FCA-regulated Moneyback Limited incorporated in the UK.

The CEO and other company employees have not yet released any official statements regarding the seizure.

All The Company’s Websites

We found several domains PayBack Ltd has been using, including:

• payback-ltd.com
• money-back.com
• payback-law.com
• paybackltd.io
• paybackltdscam.com
• paybackltdreview.com
• funds-back.com
• paybackltd-de.com
• payback-ltd.org
• paybackltd.ch
• moneyback-team.eu

At present, the only active domain is PayBack Law. The company seems to have changed its domain on its social media as well, including its LinkedIn page and Facebook. The change was conveniently made right after the FBI seized their main site and several associated ones, such as Money Back. Yet, it doesn’t change the fact that the brand is blacklisted by authorities for suspicious activities.

This is quite a disturbing act. Beware, as their employees may try to convince you that PayBack Law is not associated with the seized sites. However, they all have the same owner. If you have been dealing with any of the aforementioned entities or have any trouble resolving your case against a scam broker, contact us immediately for a free consultation.

How Did PayBack Ltd Operate?

According to PayBack Ltd reviews, this company claims to be able to recover funds stolen by various crypto, Forex, and CFD brokers. They allegedly employ various experts in the fields of law, finance, and cybersecurity who are able to assist the defrauded customers.

Yet, the reviews themselves vary a lot depending on the platform you check. For instance, the aforementioned Trustpilot page shows a great rating, with 3.9 out of 5 stars. If you were to check negative comments, you would find people stating that they were waiting for the resolution of their case for a couple of years. Namely, one user started the process with the company back in 2019, while the other one has been waiting since 2020. The firm seems not to respond to negative feedback, which is quite unprofessional.

PayBack Ltd Reddit page shows that the company employees are convincing victims they have located and retrieved the funds, but in order to release them, clients need to pay 10% of the deposit amount. In case of the mentioned Reddit user, the amount exceeds $10,000. It’s a typical scam tactic employed by fraudulent brokers and chargeback fraudsters alike.

PayBack Ltd Reputation

As mentioned, the reviews are quite mixed. The company also tried building its credibility by posting reviews on prominent news sites, such as Yahoo Finance. In this article, the company co-founder brags about PayBack Ltd’s milestone – recovering $5 million for their customers. 

However, we couldn’t find any proof of this claim. In fact, if you look at the company’s positive reviews, you will see a lot of praise for the customer service and support. Yet, rarely does anyone claim to have seen their funds back. Odd, isn’t it?

PayBack Ltd Was Seized, What Now?

At the time of writing, neither the authorities nor the company’s founders had said anything about the seizure. However, the website clearly shows that the FBI considers this brand to be a part of a cryptocurrency return fraud scheme.

While we’re waiting for an official confirmation or the resolution of this issue, we invite you to consult with our experts. If you have paid upfront fees or are waiting for PayBack Ltd to resolve your case, our chargeback specialists will evaluate your situation during the free consultation. Don’t hesitate to get in touch.