The website ostensibly only offers a computer software program. However, in order to take up this offer, customers are required to open an “nWealth account”, which they then pay money into.

The operator of the website is stated – with incorrect spelling – as Nova Secutiries Ltd., Nicosia, Cyprus. Elsewhere on the website, a business address located in London, United Kingdom, is provided. A licence number is also stated; this number is the licence number under which the investment company Nova Securities Ltd is registered with the Cyprus Securities and Exchange Commission (CySEC).

BaFin does not have any indications that Nova Securities Ltd has any connection whatsoever to the services offered on the website n-wealth.app or to the operators of the website. It can be assumed that unknown perpetrators are committing identity theft against Nova Securities Ltd.

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 – KMAG).