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Martti Malmi Named in HTML5 SCAM

Posted on Tuesday, 28th May 2013 @ 06:37 PM by Text Size A | A | A

Marti Malmi HTML5 and Bitcoin SCAM

Martti Malmi, after helping to develop the Bitcoin eCurrency in 2012, joined SC5 company owned by Pyry Lehdonvirta. His help was required for HTML5 markup language development. Everybody in IT sphere knows that now it is a core and very popular technology in the Internet. Of course it is currently under development due to the majority of information technology professionals that express a great interest to HTML5. For sure,  there could be even more interested professionals, but the company reputation was disconsidered by some people who were team members of the companies involved in the HTML5 development. Martti Malmi was one of them.

In a latest Ripoff Report given by one of the HTML5 site developer based in Nebraska, Martti Malmi is considered to be a person, who cheated the user of more than 20000 Euros.

I got scammed for 22440 euros by SC5. My key contact and team lead was Martti Malmi and the job was to produce a commerce site in HTML5.  So they asked for a deposit to start the work.  Then I noticed, after the first update, the very poor quality of their work and I started expressing my deep concerns. Martti Malmi himself and other team members stopped answering my calls.  I got strange email answers that seemed to be in Indian style English.

After 3 weeks I found the truth; my Project was being handled in Bangalore, India, by programmers making on average US$12/hour. ( I investigated and spoke with several firms about this)  I was shocked and complained to Mr. Malmi, who said that the terms and conditions did not specify that SC5 could not outsource. This is a total misrepresentation of our contract and I feel absolutely betrayed.  They say they will refund part of my money but not the part already spent. I can not believe this fraud.  Next stop is the Finnish courts. There are many more scam alerts that pop up in search results for Martti Malmi reporting different scams, related to Bitcoin, eCurrency ATMs and web development.

We wanted to get in touch with the SC5 executive officers and Martti Malmi through SC5 and, his own forum, in order to confirm the statement by Guy Maxwell given above, but our emails and phone calls had no answers.

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... post your own so far 5 comments


  • applepie4u

    May 28, 2013 09:57 PM

    Martii Malmi is a known con artist. According to the Russian press, in 2009 he was arrested in St. Petersburg for attempted money laundering and bribery related to the Kolbakov city council scandal. ( I will soon post the link )

    Now he’s running a bitcoin scam ( he owns ) using insider info to pump and dump. There are at least 50 accusations against him. People need to do their homework.

  • tanger3

    June 9, 2013 09:58 PM

    bitcoin is great but we do need to weed out the scammers. I cant name names but I do know for a fact that Martii Malmi has conned a lot of people who were hypnotized by bitcoin. so heads up everybody, this guy is a con.

  • Vingle

    July 3, 2013 04:20 PM

    I worked with Martti Malmi 8 months, the customer service was excelent, but I couldnt see my money again,

  • droper

    July 3, 2013 04:27 PM

    for now Martti Malmi is a SCAM artist – Stay away !!!!!!!!!!!!!!!!!!!!!!!
    I depsited $10,000 in January. My account grew to $12,500. I read the reviews here on FPA and got worried. So I logged onto the platform and withdrew $7,500.

  • tanger3

    July 3, 2013 04:33 PM

    The scammer Martti Malmi
    Guys its time we sent an email and put some pressure on liquidators
    send as much emails to them on and and other liuidators email as mentioned below in

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