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Automatically translated version. May contain inaccuracies compared to the original.
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Trustee and the Seychelles
🔍We checked three things: who legally holds clients' money, how many people are filing complaints, and whether there are criminal cases against the founders themselves.
In the current Terms of Use for Trustee Plus on the site trusteeglobal eu, the latest edition dated 10 November 2024, it states that the custodial wallet, i.e., the storage, exchange, and transfers of clients' cryptocurrency, is provided by MikePay LTD, a company from the Republic of the Seychelles.
🚫 The firm is listed among companies removed from the register due to dissolution as of 17 March 2025. The company that, under contract, holds users' cryptocurrency legally does not exist, yet the agreement on the site still refers to it.
🌐 Meanwhile, the app in the stores lists a different entity with the same name. The developer of Trustee Plus in the App Store and Google Play is shown as Mikepay Inc. with an address in Panama, 50th Street, and a contact phone number with a Canadian country code +1 825.
The card partner named in the same Terms is the Polish Quicko, whose regulator KNF revoked the license in January 2026. Lithuanian UAB Trustee Global, without a MiCA license, was supposed to stop servicing as of 1 January 2026. Clients were transferred to Polish IROC PRO with capital of 5 thousand zlotys, which we wrote about in the second part. Seychelles, Panama, Lithuania, Poland, Delaware and Vinnytsia. A person with frozen funds effectively does not know whom to sue.
and the Trustpilot profile for Trustee Plus as of September 2026 has 233 reviews with an average rating of 2,3. One star was given by 55% of authors, that is about 128 people. Over the last 12 months there have been 105 reviews.
The story repeats: an incoming transfer goes to an AML check, support asks for new documents for weeks, funds are neither credited nor returned to the sender. Amounts in complaints range from a few hundred dollars to 16 000 euros, authors from Latvia, Poland, France, Portugal, Moldova, the USA.
5 September a user from Cyprus wrote that after topping up he was informed about the loss of the license and was promised a refund of the transfer within 7 business days. The company responds to most negative reviews with the same template saying that the funds are safe, and often asks to raise the rating.
On the complaint platform Sikayetvar there are 25 separate complaints recorded, on reviewabout.me out of 86 reviews the service is recommended by only 17%. In Google Play the app has a rating of 3,6 with 2,6 thousand reviews.
⚖️ In October 2025 the High Anti-Corruption Court considered the seizure of 1,44 million USDT that were stored in a wallet created via Trustee in an NABU criminal case. Detectives claimed that the actual owner of these funds was another person: during a search they found a phone with the seed phrase for the wallet that received funds from an anonymous wallet, from which her subordinates also received money. The court lifted the seizure because after almost two years of investigation no suspicion had been charged to anyone.
⚙️ Questions for Vadym Hrusha
✔️Which legal entity currently stores clients' cryptocurrency if the Seychellois MikePay LTD has been dissolved?
✔️Who is the owner of Panamanian Mikepay Inc.?
✔️Why does the contract on the site refer to a company that no longer exists?
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