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Category: BaFin

BaFin
Crypto

November 23, 2022

Austrian Crypto Exchange BitPanda Receives BaFin License; KPMG Confirms Assets & Reserves!

Amid the crypto winter and liquidity crisis, the Austrian crypto exchange and custody platform Bitpanda announced that it had received a crypto trading license from Germany’s BaFin. According to Bitpanda, it is the "first European retail investment platform to meet BAFIN’s strict regulatory requirements." The crypto exchange allegedly benefited from the FTX crisis because many customers would have transferred their cryptos to the regulated Bitpanda.

November 21, 2022

Urgent Warning Against Broker Scam Quova Powered By Titan Technology

The German BaFin has warned against the broker scam Quova (www.quova.io), stating that it has no connection to BaFin-regulated Quantumrock Capital GmbH. Instead, it is a case of identity fraud. The poorly made white-label broker offers trading with stocks, forex, and CFD. The scam runs on the platform of Titan Technologies, a broker technology provider in Cyprus. Do yourself a favor and stay far away from Quova and protect your financial health.

November 21, 2022

Attention! German Regulator Warns Against BTC EU Broker Scam!

The German regulator BaFin has announced that BTC EU does not have permission to offer banking business or provide financial services. The content on the website www.btceu.pro facts justifies the assumption that BTC EU unauthorizedly offers banking transactions and financial services in Germany. The plain truth is that BTC EU is a scam that aims to defraud consumers. In our review on November 21, 2022, the payment function did not work.

November 5, 2022

BaFin Executive Fired Over Wirecard Scandal!

German regulator BaFin is parting ways with its executive director Beatrice Freiwald after a months-long legal dispute. The German government decided that she has to resign from BaFin's board of directors, the authority announced recently. The Wirecard investigation committee harshly criticized Freiwald. She was responsible for BaFin's whistleblower unit, which did not adequately follow up on information from whistleblowers about Wirecard.

November 1, 2022

German Regulator Warns Against Fraudulent Crypto Broker Bitcoin Convert!

The German regulator BaFin warns that the Bitcoin Convert broker scam. The operator does not have a license to conduct banking business or provide financial services. The company, which according to its own information has business offices in Switzerland, Cyprus, and the United Kingdom, is not subject to BaFin supervision. The plain truth is that Bitcoin Convert is a scam. You should stay very far away and protect your money and financial health.

October 7, 2022

Attention! German BaFin Warns Against StellarFX and Eudaimon Consulting!

Eudaimon Consulting LLC, registered in St. Vincent & The Grenadines, runs several broker scams. So far, we have discovered TradingTech and AceInvesting. Several regulatory warnings have already been issued against the operator of the scams. Spain's CNMV issued a warning on 21 Feb 2021, and Austria's FMA followed on 22 Feb. The German BaFin warned against the entity and its StellarFX broker scam. Stay away; protect your money, data, and financial health.

September 27, 2022

Exposed! The EZ2GO Scam Network And Its New Brands!

In May 2021, German BaFin issued a Cease and Desist Order against EZ2GO Ltd, registered in the Commonwealth of Dominica (report here). It operated the broker scam CapitalFX. On 26 Sept 2022, BaFin announced investigations against the broker scams Europemarket.io and Economix.io operated by Archax Ltd in Sweden. Bullshit, of course. They are evidently part of the same scam network. BaFin clarifies they are not connected to the FCA-registered crypto & digital assets provider Archax Ltd.

September 18, 2022

Warning Against Sustainability Project Wonderkind And Its NAOS Security Tokens And MatrixChange!

BaFin suspects that Wonderkiri OÜ, registered in Estonia, is publicly offering its "NAOS" security token via its website (wonderkiri.de) without the required prospectus, thus violating German security laws. Wonderkiri presents itself as a sustainability project that puts the proceeds from token sales into planting trees. The NAOS security token is said to be traded on the peer-to-peer crypto exchange MatrixChange, which does not have a license for it. Stay very far away.

September 13, 2022

Attention! Do Not Fall For The TargetTrading Broker Scam!

BaFin has recently issued a warning against crypto marketing scam Bitcode Prime which is after naive consumers for broker scams like TargetTrading or InvestKingdom (warning here) and others. These fraudulent crypto campaigns target consumer greed with the promise of quick riches. The German regulator BaFin has qualified this type of (fraudulent) offering of financial services as an activity requiring a license and has announced investigations against the operators of Bitcode Prime and the brokered broker scams.

September 7, 2022

Attention! Fake Regulators Kryptoaufsicht And Boersenaufsicht Attack German Scam Victims!

Fake regulators have been a problem for several years now. Especially with the emergence of largely unregulated cryptos, fake regulators have been hunting for victims as operators of fund recovery scams. In Germany, these scammers are currently active with the websites Kryptoaufsicht.com and Boersenaufsicht.net, luring victims with free advice. The German BaFin has issued a warning against these scams. Please do not fall for them and stay clear from them.

September 7, 2022

Investor Warning Against Broker Scams PrimeFinanz And FinanceRecovery!

The German BaFin has issued a warning against the FinanceRecovery fund recovery scheme, which is allegedly operated by FinanceRecovery Limited in the UK. The boiler room agents of the scam call victims of other scams and offer to recover the lost funds. In addition, we discovered in our review that FinanceRecovery also operates as a broker scam itself and is connected to the PrimeFinanz broker scam. Stay far away, keep your money, and protect your private data.

September 7, 2022

Whistleblower Request – Who Are The Perpetrators Behind Vanished StakingTrades Broker Scam?

In February 2022, FinTelegram warned against the StakingTrades, allegedly operated by STG CONSULT PLC or STG CAPITAL LIMITED. We have not found this company. Victims can lose their money via the licensed Estonian crypto exchange Oobit. Stay far away, and protect your money and data. Then in May, the German BaFin issued a warning against StakingTrades. Sometime in the last few weeks, the broker scam disappeared with the victims' money. We would like to know who the operators were.