Erscheinung:21.05.2024 | Topic Unauthorised business, Consumer protection bitboter.com: BaFin warns against website
The financial supervisory authority BaFin suspects that the unknown operators of the website bitboter.com are conducting banking business and providing financial or investment services without the required authorisation. There, consumers can allegedly trade crypto assets using an automated crypto trading bot.
Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the required authorisation. Information on whether companies have been authorised by BaFin can be found in BaFin’s database of companies.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).
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.
