Erscheinung:09.07.2025 | Topic Unauthorised business, Consumer protection WhatsApp groups: BaFin warns consumers about the company Axionto
According to the information available to BaFin, Axionto is using WhatsApp groups and chats to contact German investors. The company recommends investing in particular financial instruments.
The recommendations posted in the WhatsApp groups are allegedly made by Professor Lorenzo Riccardi. BaFin is not aware of the existence of such a person. The website axionto.com does not contain any information on the operator’s legal form or its registered office, and there is also no legal notice.
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 warning 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).
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.
