Erscheinung:11.02.2025 | Topic Unauthorised business, Consumer protection BaFin warns consumers about various websites advertising automated crypto trading bot
The Federal Financial Supervisory Authority (BaFin) warns consumers about a series of platforms advertising an AI-controlled algorithm for trading in financial instruments and cryptoassets. Specifically, the following providers are under investigation:
- zivaprofit7.com - ZivaProfit7 Ai
- velmocoin.com - Velmo Coin AI
- zolintex.com - Zolintex AI
- luxigain.com - LuxiGain AI
- grabcapital4u.com - GrabCapitaL4u Ai
- tivanafund.com - TivanaFund AI
- brixogain.com - Brixo Gain AI
- brixofund.com - BrixoFund AI
- pamborich.com - Pamborich Ai
- zonocash.com - Zono Cash AI
- econarix.com - Econarix AI
- zorbofund.com - ZorboFund AI
- gaintomo.com - GAINTOMO AI
- trovafund.com - TrovaFund AI
- gliporich.com - GlipoRich AI
- viznofund.com - ViznoFund AI
- grivogain.com - GrivoGain AI
According to information available to BaFin, financial and cryptoasset services are being offered on these websites without the required authorisation. The websites all share an almost identical text design and layout. These websites provide no information about the location of any registered office.
Anyone providing financial, investment or cryptoasset services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.
BaFin is issuing this information on the basis of section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG) and section 10 (7) of the German Cryptomarkets Supervision Act (Kryptomärkteaufsichtsgesetz).
Please be aware:
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.
