From regulator warnings to missing payouts, Dragon Money launched a cleanup campaign to conceal its pyramid past
In the wake of journalistic investigations into Dragon Money, the casino quickly moved to remove evidence of prohibitions, pyramid scheme associations, fraudulent licenses, and withheld payouts, suggesting that its Kyiv operations are covering up serious misconduct.
Dragon Money casino primarily targets residents of the post-Soviet space, although it is accessible in other countries as well. As is often the case, getting to any real information about what the casino truly represents is difficult – the first pages of search results are filled with advertisements.
There’s no need to recount what the ads say – advertisements are meant to praise the advantages and gloss over the flaws. The information about Dragon Money casino that was painstakingly gathered can be roughly divided into two parts: official (documents, licenses, bans, etc.) and player reviews.
Let’s start with the reviews. First, let’s clarify – reviews are subjective, and they should be approached with a degree of skepticism, without fully trusting either overtly positive or equally negative ones. Especially since, judging by the style of the reviews, those praising Dragon Money are clearly bots: the texts are similar in style and content. Negative reviews provide a bit more insight into the fact that not everything is right with Dragon Money’s operations, although, to the casino’s credit, they do respond to these reviews and attempt to reply. However, it seems that’s where the interaction ends: the issues remain unresolved.
From regulator warnings to missing payouts, Dragon Money launched a cleanup campaign to conceal its pyramid past
In the screenshot above – a player’s complaint about having their winnings of 1,200,000 rubles stolen. There is a response from the casino, but it boils down to the standard «we’ll look into it», even though the player described the issue in detail with all the specifics. The full text of the complaint and the casino’s response can be found here; they are still accessible. However, other reviews on the same site confirm that this case is not an isolated one.
From regulator warnings to missing payouts, Dragon Money launched a cleanup campaign to conceal its pyramid past
By the way, this is a Ukrainian review site, even though access to the casino is officially blocked in Ukraine. However, this doesn’t stop anyone – there are numerous mirror sites that allow bypassing any restrictions. The fact that there are at least some issues with Dragon Money is also confirmed by another review from a different site. This time, it’s not players complaining about «deception», but partners – people who work with the casino on an affiliate basis and bring in players, who are the very foundation of the casino’s existence.
From regulator warnings to missing payouts, Dragon Money launched a cleanup campaign to conceal its pyramid past
Let’s reiterate – the number of negative reviews isn’t very high – around 30%, which isn’t much for an online casino. However, it’s not insignificant either, which raises questions about whether it’s worth entrusting your money to Dragon Money. Especially since it operates illegally in the territory of the former USSR (and in Europe as well). In Russia, Dragon Money has even been included in the Central Bank’s list as a pyramid scheme, as directly stated on the website of the Central Bank of the Russian Federation. It also explains why finding information about the casino is so difficult – the Central Bank lists Dragon Money’s addresses, which clog up search engine results:
From regulator warnings to missing payouts, Dragon Money launched a cleanup campaign to conceal its pyramid past
Against the backdrop of negative reviews, this is no longer just a warning sign; it’s a clear indication that getting involved with Dragon Money is not advisable. But that’s not all. According to the main website of Dragon Money casino, it is registered in the jurisdiction of Curaçao and operates under its license. The owner of the casino is Dragon Money NV.
From regulator warnings to missing payouts, Dragon Money launched a cleanup campaign to conceal its pyramid past
However, it is known that Dragon Money casino was registered in 2012 in Costa Rica and operated under its license at least until 2021. At that time, the owner was International Business Systems S.R.L., and the website had the address drgn.win (now inactive).
From regulator warnings to missing payouts, Dragon Money launched a cleanup campaign to conceal its pyramid past
What happened to the Dragon Money casino owned by International Business Systems S.R.L. from Costa Rica? And why did a casino with the same name and logo, and almost the same address, suddenly appear in Curaçao after the first one vanished? Moreover, another nuance should be considered in this context – an advertisement disguised as a legal analysis about the Costa Rican Dragon Money was written by a certain Yuri Mosha, the owner of the American agency «Second Passport», who received a 10-month prison sentence in the US last year for his fraudulent activities. Mosha’s fraud is not related to Dragon Money, but a recommendation from a convicted fraudster to play at this casino looks highly dubious.
From regulator warnings to missing payouts, Dragon Money launched a cleanup campaign to conceal its pyramid past
In summary, we have the following: negative reviews from players and partners of Dragon Money; an outright ban on its operations in Ukraine and Russia; in Russia, Dragon Money is listed in the registry of organizations with signs of a pyramid scheme; a murky history of ownership and jurisdiction changes – this only confirms the Central Bank of Russia’s conclusion about a «pyramid»; a laudatory article about the casino from a Russian fraudster who was sentenced in the US. Additionally, it should be noted: to play at Dragon Money casino, in most cases, you will need to use «mirror sites». However, this poses no problem:
From regulator warnings to missing payouts, Dragon Money launched a cleanup campaign to conceal its pyramid past
And a bit more about bans and the lack of a license: as reported by several publications, Dragon Money has an office in Kyiv, from where technical support is provided. The organizer of this office, which employs over 50 people, is said to be Oleksandr Myrnyi, a former member of the Ukrainian parliament.
So, it doesn’t really matter where the casino is registered: in Curaçao or Costa Rica. Or in the UK, where a company named Dragon Money was also registered until 2012. It doesn’t matter at all – the central office of this outfit is located in the heart of Kyiv. And this entire pyramid is managed from there. Without having any legal status whatsoever in this city or this country. Do you want to gamble with an illegal outfit? Well, the choice – to play or not to play at Dragon Money – is entirely yours. Just don’t complain later. You’ve been warned.
Author: Maria Sharapova
