VirtaPay is one of the more subtle scams because there is no one thing with their site that you can point to that demonstrates clearly that it is a scam. It is only when you look at a whole range of different aspects of how their site works that it becomes more obvious that it is a scam.
VirtaPay started some time ago using a different name - "PayBox Montenegro". At that time they were offering people the opportunity to sign up for what they claimed would be a future payment system to compete with Paypal. To give people the incentive to sign up to test their early code they were offering a payment into your PayBox account just for signing up and further payments for staying active. The idea would be that this money would allow you to make purchases through their system once they set up that part of the processing and so test their system for them without using your own money in a system that was still being tested.
The first clue to this being a scam is that they didn't close off memberships once they had a specific number of testers and continued to increase everyone's balances. A genuine site only needs so many people to test it and giving people real money to test with only makes sense when you have a limited number of testers. As they continued to accept new signups and add more money to the accounts of those who had already signed up, it became more and more obvious that the "money" being given out wasn't as real as the site implied.
Once this became too obvious the site made a statement to the effect that the money wasn't real but was instead virtual money that would only have a real value once it was used to purchase something through their system. It was at this time they changed their name to VirtaPay.
Now it is perfectly possible to have a virtual payment system that isn't a scam. BarterCard is one such virtual currency system that is definitely NOT a scam. The evidence gradually built up though that this isn't the case with VirtaPay.
While none of the following by itself is sufficient to show that VirtaPay is a scam, the combination of all of the following makes it extremely unlikely that it isn't a scam.
If you are one of the few unfortunate legitimate users of VirtaPay who wasn't locked out of their account by their latest changes you are at even greater risk of being scammed now through VirtaPay than ever before because almost all of people who might have used the system as a legitimate trading system have now been locked out and most of those who still have access will be trying to scam the few real people who are left. That is if VirtaPay doesn't end up closing down very quickly due to the fact that with only scammers in their system there will be no one to get scammed.
This article written by Stephen Chapman, Felgall Pty Ltd.