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Unlicensed Financial and Crypto Services: BaFin Investigates Two Firms

WikiFX | 2025-04-08 15:47

Abstract：The German Federal Financial Supervisory Authority (BaFin) has launched investigations into two companies—Pandabrokersvip and Weisshub Fin—for offering financial and cryptoasset services in Germany without the required regulatory authorisation. Both firms operate through websites targeting investors but are not listed in BaFin’s registry of licensed entities.

Germany‘s financial regulator, the Federal Financial Supervisory Authority (BaFin), has issued separate warnings against two companies—PANDA BROKERS VIP and Weisshub Fin—for providing financial and crypto-related services without proper authorisation. These actions are part of BaFin’s broader enforcement efforts to combat the rise of unregulated platforms targeting German investors.

According to BaFin, PANDA BROKERS VIP, operating via the website pandabrokersvip.com, offers financial services in Germany without being listed in the authoritys registry of approved entities. The company previously used the domain [pandabrokers.com] to solicit clients and has no valid licence to provide financial services within the country.

Similarly, Weisshub Fin was found to be offering not only banking and financial services, but also cryptoasset-related services through its website weisshub-fin.com. BaFin emphasized that none of these activities are authorised under Germanys financial regulatory framework.

BaFin has reiterated that under Germanys Banking Act (Kreditwesengesetz – KWG) and the new Cryptomarkets Supervision Act (Kryptomärkteaufsichtsgesetz), any entity offering such services must obtain explicit regulatory authorisation. Firms that bypass this requirement pose heightened risks to investors, as they operate outside legal oversight and investor protection mechanisms.

The regulator warns that interactions with unlicensed platforms could lead to financial losses, data misuse, and lack of access to legal remedies in the event of fraud or insolvency. These companies are not supervised by BaFin and are therefore not subject to its consumer protection and compliance requirements.

Scam Alert

Related broker

No Regulation

pandabrokers

Company name：Pandabrokersvip

Score

1.21

Website：https://pandabrokersvip.com/

1-2 years | Suspicious Regulatory License | Suspicious biz area | High potential risk

Score

1.21

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