Erscheinung:23.02.2024 | Topic Unauthorised business, Consumer protection bitdach.com: BaFin warns consumers about the company BITDACH
BaFin suspects the operators of the website bitdach.com of conducting banking business and offering financial or investment services without the required authorisation. The operators refer to themselves simply as BITDACH and provide no information regarding their legal form. A business address in Munich is listed on the website. BITDACH claims to be authorised as an asset management company. This is not the case.
Anyone providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the necessary authorisation. Information on whether particular 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.
