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German Finance Regulator BaFin Investigates Operators of Bitcoin Bank Breaker

The Federal Financial Supervisory Authority of Germany also known as BaFin launched an investigation against the cryptocurrency platform Bitcoin Bank Breaker. BaFin warned German consumers to be extra careful when dealing with the cryptocurrency trading platform Bitcoin Bank Breaker, claiming its operators have not disclosed a full company name, legal form, or place of business on the website. A thorough look into BaFin’s database shows that Bitcoin Bank Breaker is indeed not registered with the federal institution. Subsequently, the watchdog advised consumers to be highly cautious when investing on the Internet and conduct proper due diligence to identify any fraud before it is too late.

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