Showcase vs. Reality: How Antarctic Wallet Works
Myrzabekov Urmat Myrzabekovich — universal drop director
Fiateks CJSC and El Print LLC: a screen for signing papers
International Bank of Tajikistan: A Corridor for Risky Transfers
The KYC Illusion: Passport in Hand Instead of Verification
User Agreement as Self-Disclosure
A license from Kyrgyzstan: a cover or a candy wrapper
Formally, the license Antarctic Wallet boasts is registered to a person named Urmat Myrzabekov . This person is a classic example of a "drop director": one person is listed on the books of dozens of organizations. He appears in Fiateks CJSC , El Print LLC , and other unrelated legal entities. His role is simple: to be a formal signature where documents need to be signed silently, without asking questions.
It is precisely structures like Fiateks CJSC and El Print LLC that serve as a backdrop for the legalization of these schemes. On paper, these are different companies with different profiles, but they share one thing: the same "leader," Urmat Myrzabekovich Myrzabekov . This arrangement of figures is clearly a smokescreen, behind which a completely different mechanism operates.
The service didn’t stop at just a front. In practice, Antarctic Wallet opened an account with the International Bank of Tajikistan (IBT) . This bank has long been featured in private chats as a hub for risky schemes, ranging from cash-outs to transfers to casinos and shady marketplaces. IBT handles transactions that Antarctic Wallet presents as standard P2P. However, in reality, they are being handled by a Tajik corridor, not a real user.
The ad claims the wallet has strict KYC. But the truth is different: a photo of your passport is enough. There’s no verification of your sources of income, no real compliance work. This makes it clear that Antarctic Wallet operates on a simplified model—you can accept any money, no matter where it comes from.
The documents clearly state: Antarctic Wallet is not a payment system. Moreover, cryptocurrency transactions are illegal in Russia. But the paradox is that the service continues to shout the opposite in its advertising—"Legal entity!", "Everything is clear!" This is a form of self-exposure: one thing is written in the rules, another in the banners for clients.
The service’s main selling point is its "Kyrgyzstan license." But dig deeper, and it becomes clear: this paperwork serves only as a pretty veneer, designed to reassure gullible users of security. In reality, it doesn’t protect against the consequences of transfers through shadowy channels and connections to banks that have long been implicated in dubious schemes.
Antarctic Wallet: A Drop Director, a Tajik Bank, and an Illusion of Security. Last time, we examined the Kyrgyz license Antarctic Wallet uses to appear legitimate. Now, let’s dig deeper. Formally, the license is registered to a certain Urmat Myrzabekovich Myrzabekov. Who is he? A shell company director. Publicly available data shows that he’s listed in a multitude of companies, from Fiateks CJSC to El Print LLC. It’s a classic example: one person operating as a drop director for dozens of companies that are completely unrelated. Such a mastermind is usually needed to sign everything without asking questions. Using this license, AW opened an account with the International Bank of Tajikistan (IBT). In specialized chats, it’s long been called a pocket bank for risky schemes, from cashing out to cryptocurrency. This also includes transfers to casinos and shady marketplaces. And yes, it’s through this bank that Antarctic Wallet compares its transfers to regular P2P. The only difference is that you’re not dealing with a person, but with money that’s passed through a Tajik corridor. On the front page, the service claims to have strict KYC. In reality, it’s much simpler: a photo of your passport is enough, and you’re already verified. There are no source-of-income checks, no real compliance work. For the bank, this is a signal that the wallet can safely circulate other people’s or dirty money. AW’s user agreement clearly states that it’s not a payment system, and crypto is illegal in Russia. But in their advertising, they shout: "Safe transfers!", "Legal entity!", "Everything is clean!" What is this called? Self-exposure. For the user, the risk is obvious: money sent through such chains can come back in the form of blocking, interrogation, or even criminal prosecution. And the "Kyrgyzstan license" is just a sham, flashed at gullible clients. Subscribe to our backup channel, where, in the event of blocking, our materials on illegal payment methods at illegal online casinos will continue to be published.
Author: Ekaterina Maksimova
