On 11 February 2025, the Federal Financial Supervisory Authority (BaFin) of Germany issued a public warning alerting consumers to a series of online platforms offering AI-controlled algorithmic trading for financial instruments and cryptoassets without the required authorisation.
The websites under investigation include ZivaProfit7 Ai, Velmo Coin AI, Zolintex AI, LuxiGain AI, GrabCapitaL4u Ai, TivanaFund AI, Brixo Gain AI, BrixoFund AI, Pamborich Ai, Zono Cash AI, Econarix AI, ZorboFund AI, GAINTOMO AI, TrovaFund AI, GlipoRich AI, ViznoFund AI, and GrivoGain AI.
Germany’s BaFin in its announcement clarified that the financial and cryptoasset services provided by these platforms appear to be unauthorised. The regulator notes that these websites display a nearly identical text design and layout, providing no clear details regarding the location of any registered office. Under German law, any entity offering financial, investment, or cryptoasset services in Germany must obtain the necessary authorisation from BaFin. The regulator urges consumers to verify a company’s authorisation status through BaFin’s database of companies before engaging with any service provider.
The warning is issued under section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG) and section 10 (7) of the German Cryptomarkets Supervision Act (Kryptomärkteaufsichtsgesetz). These legislative provisions empower BaFin to publicly warn against unauthorised financial service providers and protect consumers from potential fraudulent schemes. BaFin reiterates its commitment to ensuring financial market integrity and consumer protection by identifying and taking action against firms operating without regulatory approval.
BaFin’s investigation into these platforms is ongoing, with further regulatory actions potentially following. The warning aims to prevent consumers from engaging with unregulated trading schemes that may pose financial risks. Consumers are encouraged to exercise caution, conduct due diligence, and report suspicious activities to BaFin.
