Federal Financial Supervisory Authority

22.06.2022 | Topic Unauthorised business Trading platform investirex.com: BaFin expands investigations BaFin published a notice on its website to inform the public that it had opened supervisory investigations into Castan Holdings LTD, Saint Vincent and the Grenadines, as the operator of the trading platform investirex.com. Information and documents now available to BaFin show that a company called Investirex Cryptocurrencies Ltd./Investirex Ltd./Investirex.com Ltd. is also connected to the website investirex.com. This company claims to have registered offices in Switzerland and in Scotland. It also claims to be part of a group called “K-DNA Financial Services”. Those who express an interest in investing with the company are invited to conclude an asset management agreement (“Anlageverwaltungsvereinbarung”). BaFin has now also discovered that these persons are sent a letter purporting to be from BaFin. The letter is addressed to Investirex Cryptocurrencies Ltd, Switzerland, and relates to the granting of authorisation under the KWG to a company called Fortinbras Management GmbH. This letter is a forgery and did not originate from BaFin. BaFin also wishes to emphasise that there is no connection between the authorised financial services institution MEX Asset Management GmbH, registered with BaFin under the BAK no. 119375 and previously known under the name Fortinbras Management GmbH, and the letter referred to above or the company named therein. The use of the name Fortinbras Management GmbH is therefore a case of identity theft perpetrated against MEX Asset Management GmbH. BaFin was made aware of a similar case in the past.