Passivo is under regulatory investigation by BaFin, Germany’s top financial regulator.
As per an
August 9th fraud warning
, BaFin advises that Passivo is offering
banking and financial services without permission.
Specifically, it offers the management of customer assets in crypto assets.
This is the equivalent of a securities fraud warning in other jurisdictions.
In light of Passivo commiting securities fraud in Germany, BaFin advises it is under investigation.
Passivo
is a
Dubai-based
MLM crypto Ponzi headed up by German national Jan Lubberding.
In an attempt to hide its connection to Dubai, Passivo pretends it is based out of Seychelles.
Update 23rd November 2023 –
Passivo has
collapsed
.
🤖 Quick Answer
What is the BaFin warning against Passivo?BaFin, Germany's financial regulator, issued a fraud warning in August 2023 against Passivo for offering banking and financial services without authorization, specifically managing customer crypto assets illegally. The company faced regulatory investigation for securities fraud violations.
Who operates Passivo?
Passivo is a Dubai-based multilevel marketing cryptocurrency scheme headed by German national Jan Lubberding. The company falsely claims Seychelles registration to obscure its actual Dubai headquarters and operational structure.
What happened to Passivo?
Passivo collapsed in November 2023 following the BaFin regulatory investigation and fraud warning, resulting in the shutdown of the cryptocurrency platform and its associated operations.
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