GlobiancePay Client Review: How We Lost $166,000 — Full Case Documentation

1. Parties

Client:

• Kadkon Limited (Hong Kong)
• Registered address: RM 7B, One Capital Place, 18 Luard Road, Wan Chai, Hong Kong

Payment service provider:

• GlobiancePay (trade name)
• Contracting party: GlobiancePay GE LLC (Georgia), Registration No: 404737040
• Address: Avtomshenebeli street, N 88, plot N01/298, Free industrial zone, Kutaisi City, Georgia
• Email: ge@globiancepay.com
• Related legal entities (per police report and MAS registry): GlobiancePay GE LLC, Globiance Pte. Limited, GlobiancePay Holdings Pte. Ltd., GlobiancePay Pte. Ltd.
• Singapore addresses: 531A Upper Cross Street, #04-95, Hong Lim Complex, Singapore 051531; 150 Beach Road, #35-62, Gateway West, Singapore 189720
• Websites: globiancepay.com, globiance.com, v3.globiance.com

Correspondent bank:

• DBS Bank Ltd, 12 Marina Boulevard, Marina Bay Financial Centre Tower 3, Singapore 018982
• SWIFT code: DBSSSGSG

Kadkon Limited account details in GlobiancePay system:

• IBAN: 885395024700278015
• Currency: USD
• Institution (as shown in interface): GlobiancePay
• Bank address (as shown in interface): 12 Marina Boulevard, Marina Bay Financial Centre Tower 3, Singapore 018982

2. Account Purpose

Kadkon Limited opened an account with GlobiancePay for use as a fiat payment gateway: receiving international SWIFT transfers from counterparties and sending outgoing payments. The company did not purchase cryptocurrency, did not participate in staking, and did not use the platform’s cryptocurrency features.

3. Timeline of Events

December 2024 — Account Opening

March–June 2025 — Active Usage Period

During this period, Kadkon Limited used the account to receive payments from counterparties. Incoming SWIFT transfers were processed without delays.

Confirmed incoming SWIFT transfers (April–June 2025):

During April–June 2025, several SWIFT transfers from counterparties were received into Kadkon Limited’s GlobiancePay account via DBS Bank Ltd. All transactions are displayed in the dashboard with COMPLETED status.

June–July 2025 — Outgoing Payment Issues Begin

The first outgoing payment (05.06.2025) was executed successfully. However, the second outgoing payment from 09.07.2025 remained in IN_PROGRESS status and was never executed. Meanwhile, the incoming payment from 11.07.2025 was credited without delays.

Since all our attempts to contact support were unsuccessful, we decided to withdraw all funds and discontinue using GlobiancePay’s services.

September 2025 — Main Withdrawal Request

The $164,000 withdrawal request was not executed. Meanwhile, the system continued to automatically deduct monthly fees of $50 with COMPLETED status.

September 2025 — Attempts to Contact GlobiancePay

Additional Contact Attempts via Telegram

October 2025 — Police Report Filed

October 2025 – April 2026 — Monthly Fees Continue to Be Charged

Between October 2025 and May 2026, the system deducted $400 in monthly fees. All deductions have COMPLETED status. Outgoing payments ($2,000 from 09.07.2025 and $164,000 from 04.09.2025) remain in IN_PROGRESS status.

March 2026 — DBS Bank Response

June 2026 — Final Notice

4. Current Account Status

According to the banking.globiancepay.com interface (IBANs screenshot):

Outstanding withdrawal requests:

Total funds blocked in outstanding requests: $2,000 + $164,000 = $166,000.

5. Connection Between GlobiancePay and Globiance (Crypto Platform)

During the investigation, it was established that the login credentials from banking.globiancepay.com also work on the domain v3.globiance.com, which positions itself as a cryptocurrency platform. The interface on v3.globiance.com contains the same sections (Cards, IBANs, Market Place, Swap, Orders, Transactions, Payments, Investments) and displays an identical transaction history with the same IBAN (885395024700278015). This fact is confirmed by screenshots of both interfaces taken from the same account.

6. Regulatory Actions

Monetary Authority of Singapore (MAS)

The MAS website (mas.gov.sg) in the Investor Alert List section lists:

• Globiance; GLOBIANCE PTE. LIMITED; GLOBIANCEPAY HOLDINGS PTE. LTD.; GLOBIANCEPAY PTE. LTD.
• Addresses: 150 Beach Road, #35-62, Gateway West, Singapore 189720; 531A Upper Cross Street, #04-95, Hong Lim Complex, Singapore 051531
• Email: sg@globiancepay.com; contact@globiance.com
• Phone: +65 31637621; +372 602 7230 (Estonia)
• Websites: https://globiance.com; https://globiancepay.com

The MAS Investor Alert List contains a list of entities that “may be or may have been wrongly perceived as being licensed or in any other way authorised or regulated by MAS.”

Source: mas.gov.sg/investor-alert-list

Securities and Futures Commission of Hong Kong (SFC)

On December 24, 2025, the SFC added Globiance X Limited / Globiance HK Limited to its list of suspicious virtual asset trading platforms with the note:

Source: sfc.hk/en/alert-list/3216

7. GlobiancePay Actions Against Publications

After information about the situation was published on affdragons.com, Oliver Marco La Rosa (CEO, Globiance Group) personally filed abuse reports with hosting providers demanding the removal of the affdragons.com website.

Contents of the abuse report (key quotes):

• “The website affdragons.com poses as an investigative journalism site but publishes fabricated scam allegations against Globiance”
• “This site is operated by a criminal group that has also registered globiance.zone (same registrar: imena.ua) and is responsible for: Extortion demands ($12,000 USD to stop the attacks), Death threats to shareholders, Filing false evidence to regulators to create fake Investor Alerts”
• “Hosting this content makes your infrastructure a tool for criminal activity”
• Requested actions: immediate hosting suspension, log preservation, confirmation of content removal
• Signature: “Oliver Marco La Rosa, CEO, Globiance Group”

Factual inaccuracies in the complaint:

1. Kadkon Limited has never demanded a payment of $12,000 and has no connection to the individuals mentioned in that context.
2. Kadkon Limited has never issued physical threats against anyone.
3. The MAS Investor Alert and SFC Alert are decisions of government regulators, not the result of “false reports.”
4. GlobiancePay has not provided any court order or official content removal demand.
5. Over 9 months, GlobiancePay did not respond to a single client inquiry — but found resources to file abuse reports.

Kadkon Limited’s response:

In response, Kadkon Limited sent a letter to legal@globiancepay.com with the subject “Formal Notice: Cease and Desist regarding Bad Faith Abuse Reports and Harassment of Affiliate Dragons,” which stated:

1. The published information is factual and supported by documentary evidence.
2. Public disclosure became a last resort after exhausting all private channels (official support email, helpdesk, LinkedIn, Telegram, direct appeals to owners).
3. GlobiancePay has provided no evidence for its claims of “extortion” and “death threats.”
4. The filing of false abuse reports is regarded as a disinformation campaign and interference with business operations; all such actions are being documented for inclusion in legal proceedings.

8. Third-Party Testimonies

Following the publication of the article on affdragons.com in September 2025, messages were received at the contact address from the following individuals (based on incoming email screenshots):

9. Public Reviews and Mentions

Trustpilot

The GlobiancePay profile on Trustpilot (trustpilot.com/review/globiancepay.com) has a rating of 2.6 out of 5. The platform is flagged with a warning: “This company may be associated with high-risk investments.” It is noted that the company “Hasn’t replied to negative reviews.” Review examples:

• November 2025: “Globiance has been holding assets with little to no response for over a year”
• January 2025: “these are scammers. do not deposit money. they steal money from their investors”

Source: trustpilot.com/review/globiancepay.com

Independent Analytical Report

The website globiance.zone published “Globiance / GlobiancePay: Analytical Report on Signs of Financial Fraud” — an independent analytical report containing data on the corporate structure (21 legal entities), analysis of licenses in 15+ jurisdictions, and a description of signs of one-sided platform operation (accepting deposits without ensuring withdrawals).

Source: globiance.zone

Media Publications

• Phemex News (2025): “HK SFC Warns of Unlicensed Crypto Platforms Globiance X, HK” — phemex.com
• Free.cc: “Hong Kong SFC Flags Globiance and CoinCola for Unlicensed Crypto Trading” — free.cc

Independent Investigations

• Investigation series by Frank (@Frankixdc on X/Twitter), spanning multiple jurisdictions
• Blocksec Analysis (September 2025) — analysis of the discrepancy between public claims of “81% returns” and the actual absence of payouts
• Governance Reflection by 11ppm (teletype.in/@11ppm/globiance_en) — analysis of systemic and KYC issues in the XDC ecosystem

Petition

In the comments section of the affdragons.com publication, user Lino (March 17, 2026) reported the creation of a petition with more than 500 signatures from affected individuals, as well as activity on X (Twitter) to draw attention to the situation.

Comments on the affdragons.com Publication

As of the preparation of this document, 5 comments have been published by users (Jesse, Lino, Stephen Alexander, Wayne, Cho higai kichi) describing similar issues: XDC locked after staking, inability to withdraw, being blocked on Telegram and X when attempting to ask questions.

Following the publication of the first article, former Globiance employees independently reached out and shared internal information about the company’s operations. We are currently actively collecting feedback and testimonies from GlobiancePay investors to build a complete picture and prepare a collective appeal to regulatory authorities.

If you are an affected client or investor of Globiance/GlobiancePay — contact us via the contact form at affdragons.com

First publication on the case: Globiance / GlobiancePay: Frozen Funds and Criminal Risks

Document prepared: June 2026.
Contact for feedback: affdragons.com/contact