Maxigrid Case – Cyprus Financial Ombudsman confirms regulatory violations but doesn’t care!
Cyprus is really dark territory within the regulatory regimes in the EU. In plain sight, CySEC-regulated investment firms operate scams and/or facilitate them with their financial services. As in the case of Roy Almagor's Maxigrid and its meanwhile vanished BitandBuy crypto investment platform. Even the Financial Ombudsman Office has found that Maxigrid has violated regulatory requirements. However, the office does not feel responsible for customer complaints for very strange reasons.