Tag: FXELIT

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.