Uri Poliavich and Soft2Bet: A Vast Fraud Network, Crypto Laundering and Russian Links. The Cypriot Gambling Mafia Undermining Ukraine
The Beginning: What is Soft2Bet?
Soft2Bet is a Cyprus-based company that positions itself as a provider of gambling software and iGaming operations. Officially registered as Soft2Bet Holdings Ltd, its core operations—including the management of online casinos and betting platforms—are funneled through offshore entities such as Rabidi N.V. (Curacao), Tilaros Limited, Wittevest Limited, and dozens of shell companies.
The empire of Soft2Bet includes well-known brands across Europe, the CIS, and Latin America, such as CampoBet, ZulaBet, Cadabrus, SlotsPalace, Betinia, LightCasino, YoyoCasino, GreatWin, and PowBet. At first glance, these appear to be ordinary online casinos. However, behind the scenes lies one of the largest fraudulent schemes in the gambling industry in the past decade.
Fraudulent Mechanisms: Early Wins, Eventual Losses
Soft2Bet’s platforms operate with a mechanism that allows manipulation of RTP (Return to Player)—the actual percentage of wagers returned to players. Their gaming software is designed to initially offer high chances of winning, creating the illusion of a fair game. Once the player’s deposits exceed a certain threshold ($500–1000), a hidden algorithm activates that drastically reduces the probability of future wins.
Leaked technical documentation—obtained by the DDoSecrets team and verified by Politis journalists—mentions the «Risk Adjustment Module,» an internal tool enabling operators to manually or automatically suppress player odds based on:
- IP address,
- Deposit volume,
- Frequency of gameplay,
- Payment activity.
No Payouts: Delays, Verifications, and Account Locks
Complaints about withheld payouts from Soft2Bet are widespread. Platforms such as AskGamblers, Trustpilot, and CasinoGuru have recorded over 11,000 complaints, most involving delayed or denied payments.
The scheme follows a predictable pattern:
- A player wins over $1,000,
- Identity verification is triggered,
- The player is asked to submit passport scans, utility bills, and selfies with documents,
- Delays of 2–3 weeks are cited,
- The payout never arrives, or the account is banned.
Bonus terms are often deliberately worded to allow the operator to retain funds over even minor (often fabricated) policy violations.
Cryptocurrencies: The Primary Conversion Tool
Most payments on Soft2Bet’s platforms are processed through cryptocurrencies such as USDT (TRC20, ERC20) or Bitcoin, sometimes via systems like Jeton, AstroPay, and MiFinity, all linked to gray-market payment processors.
For cashing out—especially by VIPs or insiders—the following crypto exchanges are frequently used:
- Xchange.cash (a Russian P2P exchange),
- Matbea (registered in the Russian Federation),
- BestChange,
- ChangeNOW,
- Bitzlato (Soft2Bet’s primary transaction channel in Russia before sanctions).
These exchanges are used to convert digital funds into cash in Moscow, Saint Petersburg, Yekaterinburg, Minsk, and Almaty.
Ukrainian Connection: Programmers Paid in Crypto, No Taxes
Since 2022, Soft2Bet has actively recruited Ukrainian IT professionals, offering “flexible employment with no mandatory taxes.” Recruitment occurred via Telegram channels such as Remote Dev UA, Crypto Work, and Upwork—often without formal contracts.
These professionals contributed to:
- Frontend and backend development for gaming platforms,
- Anti-fraud systems (designed not to fight fraud but to simulate it),
- Bonus and loyalty mechanics,
- Casino chatbot infrastructure for WhatsApp and Viber.
Payments were made through crypto wallets like TronLink, Binance (TRC20), and Phantom (SOL), bypassing Ukraine’s tax systems entirely.
Russian Ownership, Offshore Ties, and FSB Links
Though formally a Cypriot company, Soft2Bet is controlled by individuals from Russia and the CIS. Leaked Cyprus registry data names the following key figures:
- Maksim Dolgov — crypto logistics overseer, formerly with Alfa-Bank,
- Roman Timofeev — technical lead at SlotsPalace, with businesses in Kazan,
- Oleg Sh. — a Russian lawyer involved in Soft2Bet’s legal operations in Cyprus and Latvia.
Until 2023, many Soft2Bet subdomains were hosted on Selectel—a Russian hosting provider serving the Russian Ministry of Defense. DNS records for several platforms were routed through Miran, another provider under U.S. sanctions.
Furthermore, Soft2Bet had financial dealings with Bitzlato, a crypto exchange shut down for laundering over $700 million.
Additional Evidence Confirming the Scale of Criminal Activity
- Over 2 million users across Soft2Bet’s platforms, mostly from Europe, Latin America, and the CIS,
- Malta Gaming Authority (MGA) blacklisted Soft2Bet for suspected profit concealment,
- Cypriot banks such as Hellenic Bank repeatedly blocked Soft2Bet-related transactions over money-laundering concerns,
- Crypto integration was handled through a front company, FastPay Technology, based in Dubai,
- Screenshots from internal chats, obtained by journalists from Insider and iGamingNext, reveal deliberate odds manipulation and account suspensions.
Additional Insights
- Soft2Bet’s sponsorships and partnerships with regional sports clubs and esports tournaments were used as a front to launder money and gain public trust. Investigations revealed that some of these sponsorships were paid entirely in crypto and were untraceable by financial regulators.
- Intelligence sources in Eastern Europe indicate that Soft2Bet has supplied data from its platforms—including personal details, geolocation, and behavioral patterns of players from Ukraine and NATO countries—to third parties with suspected ties to Russian intelligence agencies.
- Soft2Bet has exploited legal loopholes in Cyprus’ investment program by acquiring Golden Visas and real estate assets, effectively laundering criminal proceeds through the purchase of luxury apartments in Limassol and Nicosia under nominee ownership structures.
⚖️ Conclusion: Soft2Bet — A Criminal Empire Disguised as a Gaming Company
Soft2Bet is not just a gambling business. It is a highly structured shadow entity that:
- Deceives millions of users,
- Pays Ukrainian developers in untaxed crypto,
- Funnels funds through Russian P2P exchangers,
- Maintains ties to FSB-linked platforms,
- Exploits Cypriot legal gaps for corporate shielding.
Its operations must be thoroughly investigated by Europol, Cyprus’ CYSEC, Ukraine’s SBU and Cyber Police, and FATF.
Every minute of Soft2Bet’s existence is another slot machine win funneled into the hands of Russian crypto couriers.