BaFin | FinTelegram News

Category: BaFin

August 11, 2023

Urgent Warning Against German Crypto Investment Scheme Passivo!

The German financial regulator BaFin warns against Passivo, a crypto-based investment platform that offers passive income. The operator, Passivo Ltd, located in Mahe, Seychelles, does not have permission to offer such banking services. Specifically, Passivo offers the management of crypto assets. Anyone offering banking transactions, financial, or investment services in Germany requires permission from BaFin. Stay Far Away.

July 31, 2023

German BaFin Warns Against Crypto Scheme Krypto Finanzen

German financial watchdog BaFin today warned against the crypto scheme Krypto Finanzen, noting that the provider does not have a permit to offer these services. We were unable to register in our review on July 31, 2023. The operator is not disclosed on the website. Only an Austrian phone number and an address in Vienna are provided. Stay far away from Krypto Finanzen. This is not a reputable provider. We have included it in our Black Compliance list.

July 18, 2023

German FinTech Giant N26 Will Stay Under Regulatory Money-Laundering Scrutiny!

The German Federal Financial Supervisory Authority (BaFin) has extended its money laundering measures against Berlin-based neo-bank N26. The regulator justified the move on Monday, citing the neobank's shortcomings in its systems for preventing money laundering and terrorist financing. This means that the growth restrictions for new customers and the special representative's mandate remain in place.

June 29, 2023

German Regulator Allegedly Refuses Crypto Custodian License For Binance!

German news platform FinanceFWD reports that financial regulator BaFin has allegedly decided to refuse authorization for the world's largest crypto exchange Binance. This means the crypto firm has a problem with the German market. According to the report, BaFin decided not to grant the exchange a crypto custody license; BaFin has given the company a clear understanding of this.

June 22, 2023

Attention: Do Not Fall For The LionChains And ExpoChains Broker Scam!

The German regulator BaFin has issued a warning against the broker Scam LionChains. The website does not provide any information about the operators. The scam is allegedly operated through an unnamed offshore entity in St. Vincent & The Grenadines. For contact, the website gives phone numbers in the UK and Germany. The phone numbers are also linked to the ExpoChains scam. Stay far away and protect your money and data.

June 22, 2023

Investor Warning Against Cyprus-based BitinvestX Broker Scam!

The German regulator BaFin has issued a warning against the broker Scam Bitinvestx. This is allegedly operated through Businesoft Limited, registered in St. Vincent & The Grenadines. We have not found this company. The address given on the website is Leontiou Machaira 58 in Limassol, Cyprus. Also given is a Cyprus telephone number. The credentials are also associated with the vanished UnicornFX and PrimaryFXMarkets scams. Stay far away and protect your financial health.

June 21, 2023

Urgent Warning Against Russian Broker Scam GloballFinance A/K/A Global Finance!

The German BaFin has issued a warning against the broker scam Globall Finance a/k/a Global Finance on June 21, 2023. Sailor Consulting LLC, allegedly registered in St. Vincent & The Grenadines, is listed as the operator. We have not found the company in the company register. We suspect that the scam is operated by Russians. Deposits are possible via mainly Russian payment facilitators via bank wire, crypto and credit/debit cards. Stay far away.

May 31, 2023

Urgent Warning Against CityTrade Broker Scam!

German regulator BaFin has warned against the CityTrade broker scam, which offers retail clients trading in Forex, CFD, and Crypto with margin loans of up to 100%. The operator is said to be CityTrade PLC, which we have not found. Potential victims can lose their money via credit/debit cards and crypto deposits. You should not fall for this trading scam! Stay far away and protect your data and financial health.

BaFin

May 25, 2023

German Regulator BaFin Warns Against Unauthorized Financial Operators CopyBank and RCE Banque.

The financial supervisory authority BaFin has issued warnings against Copybank (here) and RCE Banque (here), which offer banking services via their websites without the required regulatory permission. Bridgewater Associates (UK) Limited allegedly operates RCE Banque with addresses in the UK and in St. Vincent and the Grenadines. BaFin is clarifying whether the operator is identical to the company of the same name listed in the UK companies register "Companies House."

May 19, 2023

Attention: Do Not Fall For The EJ Investing Broker Scam Operated By Halobore Ltd!

On the Airsoft white-label platform, the new broker scam EJ Investing is about to be launched. Halebor Ltd, registered in the UK, allegedly operates it. This company has also been operating the LPLFinances, InvestingCiti, and DBInvesting scams. The Bulgarian Kiri Angelov Genov is registered there as a director. Our May 18, 2023 review found that no payment method currently works. These are currently being tested. Stay far away and keep your financial health.

May 2, 2023

Despite Regulatory Issues: Crypto Exchange ByBit With Rising Number Of Russian Website Visitors!

Founded in 2018 in the British Virgin Islands, crypto exchange ByBit is currently operated through Singapore-registered ByBit Fintech Limited. In the UK, ByBit has cashed in on an FCA warning and withdrawn from the UK. German regulator BaFin announced an investigation into ByBit in July 2021. In 2023, Japan's regulator FSA warned against the crypto exchange. Despite Western sanctions, Similarweb analysis shows that most website visitors come from Russia.

March 15, 2023

Interesting: What’s Behind The Austrian Secret Service And The Eurocity Bank?

Earlier today, we reported that the European Central Bank (ECB) had revoked the license of the BaFin-regulated Eurocity bank. Eurocity or the regulators have yet to make statements. Eurocity had until recently been under the control of Mustafa Sahin, a Turkish national. The interesting thing is that until June 2022, a former top official of the Austrian secret service sat on the bank's Supervisory Board. Here is what we found via the German language blog Wiener Zocker.

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.