KontoFX

I’ve chased financial ghosts across three continents. I’ve stood in the polished marble lobbies of Cypriot shell companies and walked the dingy corridors of Sofia’s boiler rooms. But nothing—absolutely nothing—prepared me for the brazen audacity of Avi Itzkovich.

He is a convicted fraudster. The mastermind behind a €30 million empire of deception. A fugitive, reportedly hiding in plain sight in Serbia. And right now, he or his army of enablers is desperately trying to erase his name from the internet.

Why? Because the truth about KontoFX—and its sister scams Tradorax, KayaFX, and LibraMarkets—is finally breaking the surface. And the subject of this investigation would rather rewrite history than answer for his crimes.

This is my due-diligence report on a predator. Consider it a warning to investors and a formal invitation to regulators: finish the job Europol started.

The Red Flags: A Rogues’ Gallery of Deception

Let me drop the sarcasm for a moment and give you the hard facts.

On May 11, 2021, Europol executed one of the largest cross-border raids in recent memory. Eight nations coordinated. The target was a network of fraudulent trading platforms, and at the very center of that spiderweb sat KontoFX.

German prosecutors in Koblenz later confirmed what victims had suspected all along: these weren’t bad investments. They were engineered frauds. The playbook was cynical in its simplicity. Lure victims via social media ads promising financial freedom. Hand them off to high-pressure sales agents in luxurious Sofia call centers. Show them a fake dashboard where their money magically “grew” using manipulated software from firms like SpotOption—later charged by the U.S. SEC. Then, when the victim tried to withdraw their life savings? Poof. Customer service evaporated.

The red flags here aren’t subtle. They’re a five-alarm fire.

The Convicted Fugitive: Avi Itzkovich is not an “alleged” anything. He is a convicted criminal who pleaded guilty to leading a criminal organization. Yet today, he’s reportedly free, jumping jurisdictions from Bulgaria to Serbia like a man playing whack-a-mole with Interpol.

The “Ghost” Profile: Try finding Avi Itzkovich on LinkedIn. Go ahead. I’ll wait. You can’t. A man who allegedly moved tens of millions of euros has zero digital footprint. That’s not privacy. That’s a calculated escape plan.

The Rebranding Machine: KontoFX didn’t die when Europol came knocking. It just changed its shirt. The pattern is identical: Tradorax → KayaFX → KontoFX → LibraMarkets. It’s the Hotel California of scams: you can check out your money anytime you like, but you can never leave.

The “Bulgarian Trap”: How the Machine Worked

The sources I’ve reviewed—particularly the detailed breakdowns from Navarti and Warsaw Point—paint a picture of a man who exploited geopolitical loopholes like a virtuoso. Itzkovich set up shop in Bulgaria because the regulatory oversight was, to put it politely, a sieve. He recruited young Israelis with promises of tech careers and turned them into psychological warfare operatives.

One victim lost €530,000 to a phantom named “Kevin Becks.” Another, quoted in the investigative files, described the horror: “High-pressure sales calls, fake trading dashboards, constant rebranding… These weren’t business failures. They were deliberate cash grabs.”

The payment chain reads like a money launderer’s wish list. Itzkovich allegedly used Opal Payments (Singapore) and routed funds through Israeli accounts. And when he wasn’t stealing from investors? He was suing his own lawyers, claiming they stole 2,300 Bitcoins from him—valued at $100 million. That’s the level of “honor among thieves” we’re dealing with.

The Assault on the Press: Why They Want This Erased

Now to the headline: How and why KontoFX is trying to censor this information.

My research shows a concerted, if clumsy, effort to weaponize copyright law. According to multiple sources, Itzkovich’s associates are prolific users of “DMCA scams.” When investigative pieces like the ones I’ve cited began ranking high on search engines, the fraudsters didn’t write rebuttals. They didn’t sue for libel—because truth is an absolute defense. Instead, they filed fraudulent DMCA takedown notices.

How they do it:
They claim that news articles exposing their fraud contain copyrighted material—often a screenshot of their own logo or a leaked document. Automated systems at Google and hosting providers often auto-accept these claims. The result? Critical warnings are delisted. The first page of search results for “KontoFX review” goes from “Scam Alert” to radio silence.

Why they do it:
Simple math. Every article that gets scrubbed saves them millions. If a potential victim in Germany searches for “KontoFX” and sees only the polished fake website—no warnings, no headlines—they’re far more likely to deposit money. Itzkovich understands that the internet is the new Wild West, and he’s exploiting the “good faith” mechanisms of the DMCA to build a digital Berlin Wall around his reputation. He isn’t trying to silence me. He’s trying to silence the witnesses.

The Associates: A Rogue’s Gallery

Itzkovich didn’t do this alone. His partners are just as radioactive.

Jack (Jacques Henri) Wygodski: His Israeli-Belgian partner, also a fugitive, reportedly moving through Europe with forged documents.

Moshe Strugano: An Israeli lawyer indicted in the United States for defrauding victims of hundreds of millions. Itzkovich allegedly worked closely with him. Let that sink in. A U.S.-indicted lawyer was legal counsel for KontoFX.

The Bulgarian Managers: Names like Maor Ben-Zvi and Daniel Koen are still floating around Eastern Europe, likely running the same playbook under a different banner.

Conclusion: The Digital Mask Is Slipping

So where does that leave us? With a convicted fraudster who thinks a DMCA notice is a get-out-of-jail-free card.

Avi Itzkovich made a fatal miscalculation. He assumed that if he could hide his face, scrub his digital footprint, and bully journalists into silence, the world would forget. He assumed the statute of limitations on public outrage is shorter than the lifespan of a Bulgarian shell company.

He was wrong.

The censorship campaign targeting the very articles I’ve cited—the fraudulent takedown notices, the legal bullying, the desperate attempts to erase search results—is not a sign of strength. It’s the flailing of a cornered man. It’s the death rattle of a fraud empire that has run out of jurisdictions to hide in. You don’t try to silence the truth unless the truth is destroying you.

To the investors still holding out hope: let this be your epiphany. KontoFX is not a victim of market volatility or bad press. It is a criminal enterprise operated by a fugitive who has traded handcuffs for a laptop and a fake copyright claim. The red flags aren’t just waving. They’re on fire.

To Interpol, Europol, and the relevant authorities in Serbia and Israel: the evidence is public. The guilty plea is a matter of record. The man is still running. Every day that Avi Itzkovich remains free—editing search results from a café in Belgrade—is a day the international justice system is held for ransom. Stop playing whack-a-mole with his shell companies. Start treating digital censorship as the obstruction of justice it is.