BaFin investigates website operator and warns consumers about identity theft

Nov 14th '23

The Federal Financial Supervisory Authority (BaFin) warns consumers about the website According to information available to BaFin, financial and investment services are being provided on this website without the required authorisation.


On its website, the operator mostly refers to itself as “Tradestatisticsview” and claims to be domiciled in London, United Kingdom. The website contains no information regarding its legal form. The operator also uses the name “Bitcer” on its website without providing any information about its legal form. In this context, the operator refers to a registration certificate from the British Companies House, obtained by the company ELITEBITXCHANGE. The respective link on the website redirects consumers to a publication by the Companies House, stating that the company Bitcer Limited was dissolved in September 2021.


BaFin has also received information that employees of are contacting customers under the name “Marc Friedrich”. In doing so, they are illegally using the identity of Marc Friedrich, who has his own website on the internet, by copying portrait photos of him. BaFin stresses that Marc Friedrich does not have any business relationship with the operator of the website This is a case of identity fraud committed by unknown perpetrators against Marc Friedrich.


Anyone conducting banking business or providing financial or investment services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the required authorisation. Information on whether a particular company has been granted authorisation 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.


Source: BaFin