EXW Wallet – BaFin issues fresh warning to investors

The German Federal Financial Supervisory Authority (BaFin) again pointed out a suspicion against EXW Global. According to this, the suspicion is that the company is providing unauthorised payment services in this country.

In a recent press release, BaFin pointed out that neither Vivaexchange ÖU nor EXW Global Co. Ltd. is authorised to provide payment services in this country. On its website ex-wallet.com, Vivaexchange ÖU „advertises, among other things, the trading of digital currencies via its trading platform Crypto Investor as well as the issuing of credit cards and the implementation of a PoS payment system“, it says.

Since the company, which is registered in Estonia, also has a chief sales officer in Germany, there is a suspicion that Vivaexchange ÖU or EXW Global Co. Ltd. is providing „unauthorised payment services in Germany“ with the EXW Wallet.

A suspicion that the financial supervisory authority has not expressed for the first time.

Because already about a year ago, BTC-ECHO reported on the suspicion of fraud on the part of the German Financial Services Authority (BaFin) and its Austrian counterpart (FMA) against EXW Global AG and its EXW Wallet. When the company changed its imprint to Vivaexchange ÖU a little later, BaFin and FMA issued investor warnings about it as well. Previously, the crypto company advertised on its website in broken German that one could buy the EXW token „and if you hold it, you get a daily bonus“ [sic!].

Even today, the company, whose headquarters are sometimes in Thailand, sometimes in Liechtenstein and sometimes in Estonia, advertises a secure environment for digital and fiat currencies. In questionable English, it is still pointed out that the developers would invest „their heart and hard work“ every day to guarantee users the best possible experience. Meanwhile, those who have actually opened an EXW Wallet complain on online review sites like Trustpilot. The biggest criticism: the funds are not paid out.