UbitEx has received a securities fraud warning from France’s Autorite des Marches Financiers (AMF).
As per the
AMF’s February 13th, 2025 warning
, Ubitex is “blacklisted by the AMF because it offers financial services or products without being authorized”.
Offering securities without registration is illegal under French law. Doing so constitutes securities fraud.
UbitEx
was an MLM crypto Ponzi scheme that launched in mid 2024.
The scam was headed up by CEO “Alex Sandro”, played by an underwear model living in Indonesia.
Ubitex marketing suggested Chinese scammers were behind the scheme.
Sometime after launch UbitEx collapsed. At time of publication both of UbitEx’s website domains have been disabled.
Update 7th March 2025 –
UbitEX has
rebooted as UBX
.
🤖 Quick Answer
What is Ubitex and why did it receive a fraud warning from France?Ubitex is a cryptocurrency MLM scheme that launched in mid-2024 and received a securities fraud warning from France's AMF in February 2025 for offering financial services without authorization. The scheme collapsed after launch, with both website domains subsequently disabled.
Who operated the Ubitex fraud scheme?
Ubitex was headed by CEO "Alex Sandro," whose identity was falsely represented by an underwear model residing in Indonesia. Marketing materials misleadingly suggested Chinese scammers were involved in the operation.
What is the legal status of unauthorized securities offerings in France?
Under French law, offering securities without proper registration and authorization constitutes securities fraud and is illegal. The AMF maintains a blacklist of unauthorized financial service providers.
Has Ubitex reappeared under a different name?
As
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