BaFin | FinTelegram News

Category: BaFin

November 20, 2023

Urgent Warning Against Broker Scam HalderBay Pretending To Be BaFin-Regulated!

The German regulator BaFin issued a warning against the forex broker HalderBay on November 20, 2023. It claims on its website that the operator is Halder GmbH, which is registered in Frankfurt, Germany, and regulated by BaFin. That's bullshit, of course; it's a straight scam. BaFin clarifies that this is a case of identity theft. It has initiated investigations. Stay far away and protect your financial health.

November 16, 2023

Urgent Warning Against VentureXchange Broker Scam!

On Nov 15, 2023, the German regulator BaFin issued a warning against the VentureXchanges a/k/a VentureseXchanges broker scam. This is allegedly operated by PIX POINT CONSULTING LTD, registered in the UK, and has already attracted attention as the operator of the PixPalPro scam. Other regulators have also issued warnings against this entity. Stay far away; protect your financial health and your data.

November 10, 2023

Attention: Crypto Exchange MEXC Downgraded To Red Compliance Status!

The Estonian entity MEXC Estonia OÜ holds a crypto license issued by the Estonian FIU. The entity operates as a payment agent and distributor for the crypto exchange MEXC. FinTelegram recently reported the warning issued by Austrian FMA against the crypto exchange MEXC. In October 2023, the German BaFin also issued a warning. Due to the regulatory warnings and other issues, we downgraded MEXC to our Red Compliance list. Here is the update.

October 6, 2023

Attention: German Watchdog BaFin Warns Against X-Aia Broker Scam!

The German regulator BaFin has issued a warning against the scam broker X-AIA. BaFin says that one of the scam brokers is abusing the identity of BaFin-regulated XAIA Investment GmbH to deceive victims. The website also states Switzerland as the competent jurisdiction. Victims can lose their money via deposits using credit/debit cards and crypto. Stay far away and protect your financial health.

October 6, 2023

Urgent Warning Against the Uptos Broker Scam!

The German regulator BaFin has issued a warning against the scam broker Uptos, stating that it offers financial services without a license. Allegedly, the scam broker is operated through Uptos Ltd, which is registered in St. Vincent & The Grenadines. We have not found this company. The Italian regulator Consob has already blocked the scam broker's website for Italian residents in September 2020. Stay far away and protect your money and your private data.

September 19, 2023

Urgent Warning Against The DE-KSM Broker Scam Facilitated by Dutch Payment Processor Payepo!

The German regulator has issued a warning against the DE-KSM broker scam. This is allegedly operated by UK-based DE-Krypto Security Managment LTD, allegedly certified by the Crypto Conduct Authority. We did not find this company; it is fake. As a payment facilitator, we found Payepo, through which victims' credit/debit card payments are processed. The scam is easy to spot. You should stay far away and protect your financial health and their data.

September 18, 2023

Whistleblower Request: German BaFin Warns Against The Vanished Scam Broker Mtrade24!

The financial supervisory authority BaFin warns against offers made by mtrade24-Finanzportal GmbH, operators of the scam broker Mtrade24, who offer financial and securities services without permission. They advertise that victims can recover the financial damages incurred from the scam broker privateacc211.com. Victims are asked to make further deposits in cryptocurrencies. However, profits allegedly resulting from these transactions are not paid out.

September 11, 2023

Urgent Warning Against FXELIT Broker Scam

The German regulator BaFin has issued a warning against the scam broker FXELIT. As usual with broker scams, FXELIT shows users exorbitant profits in the Dashboard, encouraging further deposits. However, profits are not paid out. Customer funds deposited via crypto are forwarded to perpetrator-owned wallets. The operators legitimize themselves with alleged "certificates" from non-existent supervisory authorities. They also use the logo of BaFin without permission.

September 9, 2023

BaFin Restricts High-Risk Business Activities Of Payone Over Money-Laundering Issues!

On July 26, 2023, the German regulator BaFin prohibited Payone from conducting transactions for certain business customers belonging to the high-risk portfolio due to high money laundering risks and serious deficits in money laundering prevention. BaFin has also ordered a ban on new customers in this area to prevent the e-money institution from being misused for money laundering.

September 5, 2023

Germans Financial Watchdog Experiences Cyber-Attack!

Germany's financial watchdog BaFin recently fortified sections of its website due to a cyber intrusion. On September 1, after the cyber breach, BaFin limited website access, PYMTS reported. Efforts were underway to reinstate complete access, and by Monday afternoon, the site seemed inaccessible. European regulators have been alerting banks about the escalating risks of cyberattacks, emphasizing their financial implications and potential erosion of customer trust.

August 31, 2023

Introducing Hyphe: Dutch Crypto Service Provider Hyphe Secured BaFin License!

Amsterdam-based digital asset liquidity firm Hyphe, with its registration as a crypto service provider under the Dutch Central Bank (DNB), has marked a significant milestone. Its German arm, Hyphe Markets GmbH, has acquired a license as an Investment Firm per the German Securities Institutions Act (WpIG) and European Investment Firm Regulation (IFR). This positions the company to extend trading services to financial entities in Germany.

August 27, 2023

German Financial Watchdog Warns Against Broker Scam Euprofits!

The German regulator BaFin has issued a warning against the broker scam Euprofits. It is allegedly operated via Euprofits Finanzportal GmbH in Brussels and attacks consumers in English and German. Deposits are possible only with prior contact with the boiler room agent. In Germany, several lawyers have already warned against the scam on their websites. You should protect your data and financial health and stay far away.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.