Kalyptowave(.)net: Bafin warns consumers about website

The Federal Financial Supervisory Authority (Bafin) warns consumers about the services offered on the website kalyptowave(.)net. According to information available to Bafin, the operators are offering financial services on the website without the required authorisation. The operators are not supervised by Bafin.

Anyone providing financial and investment services in Germany may do so only with authorisation from Bafin. However, some companies offer these services without the necessary authorisation. You can find out whether a particular company has been granted authorisation by Bafin in the database of companies.

Bafin is issuing this warning on the basis of section 10 (7) of the German Cryptomarkets Supervision Act (KMAG).

Bafin, the German Federal Criminal Police Office (BKA) and the German state criminal police offices (Landeskriminalämter) warn consumers to watch out for internet-based financial fraud. If you wish to invest money online, exercise the utmost caution and do the necessary research beforehand in order to identify attempted fraud at an early stage.

In the Recognising financial fraud section of our website, you can view Bafin’s current warnings about companies operating without the required authorisation and find out how to protect yourself from fraud on the financial market.