As can be seen from a message, the BaFin is investigating “Bitcoin Germany” or “Crypto Bank Software”. What investors should pay attention to now.
One of the tasks of the Federal Financial Supervisory Authority (BaFin) is to supervise all areas of the financial system in Germany. One of the aims of BaFin is to protect consumers from unauthorized and fraudulent activities. As it was in a September 1st published The message means that BaFin is now starting investigations against the people behind “Bitcoin Deutschland”, also known as “Crypto Bank Software”:
According to Section 37 (4) of the German Banking Act (KWG), BaFin makes it clear that those responsible for the landing page bigtradingeur.com/de/crypto%20reportv2 and customers for the Bitcoin trading software “Bitcoin Deutschland” or “Crypto Bank Software” advertise , do not have a license under the KWG to conduct banking business or provide financial services. Those responsible are not subject to the supervision of BaFin.
Missing imprint for “Bitcoin Deutschland”
The side of “Bitcoin Germany” promises investors suspicious meanwhile. So it says on the website:
The Crypto Bank software was developed with the most advanced programming the trading world has ever seen. The software is 0.01 seconds ahead of the markets. This leap in time makes the software the most consistent trading application in the world.
If superlatives like this are mentioned in the financial sector, investors would do well to take a second look and, if necessary, ask BaFin.
Registration no longer possible
Furthermore, visitors to the website can see a small red banner in the upper area that says:
Warning: Due to the high media demand, we will discontinue registration on September 1st (…).
The operator ceases its corporate business exactly on the day on which BaFin publishes its press release and the related investigations. A short research on the website reveals that there is no company imprint and no specific contact option.
Further warns BaFin against fraudulent trading platforms. Investments in companies like “Bitcoin Deutschland” involve considerable risks and a total loss. Other supervisory and police authorities are also issuing warnings to investors. It is advisable to exercise “extreme caution” and to base your investment on “thorough research”. In a joint warning from BaFin, the Federal Criminal Police Office and the State Criminal Police Offices, it says:
It is part of the scam that the customer is initially looked after over the phone and apparently makes a profit that he cannot withdraw from himself, however.
After the request for a statement, BaFin did not want to comment on this case. But she points to two sources where investors can read up on investing safely: “Investment – recognize dubious providers”And to a common warning that is already linked above.