German financial regulator BaFin warned on Wednesday that an operator pretending to be a part of the MEX Exchange and MultiBank Group was offering financial, investment and crypto asset services via the website mexassetexchange(.)com without the required legal authorizations.
BaFin said the operator falsely claimed to be regulated by the watchdog. It also said there was no link to an authorized investment firm from Eschborn, Germany, the location cited on the site.
“The operator falsely claims to be regulated by BaFin. There is no link to an authorised investment firm from Eschborn, Germany,” the regulator said.
Eschborn is known as a base for international financial institutions, which may explain its use as a claimed address. The site claimed a presence in Eschborn, a major financial center, while also claiming BaFin regulation.
Perennial problem
BaFin warning does not, by itself, establish whether the current site was operated by that group or was using the name without authorization.
However, the domain mexassetexchange(.)com was registered in December 2025, according to ScamDoc, meaning the platform had been active for roughly three months before the regulator intervened.
The site appears to have no ties to the wider MultiBank Group.
Scammers have long been a problem for regulated brokers, like MultiBank. The fraudsters will use the branding and similar domain name to a legitimate URL to trick traders into depositing funds with them. Most of the time they will then just run off with any deposits.
