BaFin Launches Investigation Targeting Blackfort Tech for Offering Financial Services Without Authorizations

July 17, 2023 @ 10:58 am By JD Alois

German financial regulator BaFin has launched an investigation targeting Blackfort Tech based in Estonia.

In a consumer warning, BaFin said that the company offers banking business or provides financial and/or investment services on its website Blackfort.exchange, without the required authorization.

Blackfort.exchange lists both an address in Estonia as well as a location in the British Virgin Islands. There does not appear to be an authorization in Estonia. The website indicates it has both an Apple App as well as an App on Google Play. The app on the App Store shows 5 stars for the wallet to trade crypto.

BaFin states that banking business or investment services may only be offered in Germany if the company has the necessary authorization from BaFin to do this. At the same time, BaFin acknowledges that some companies offer these services without the required authorization.

Reg A - Form 1-A Filings Beta

Beta. Initial Form 1-A only. Target raise is the stated Amount to be Raised, totaled. Compared with the same dates one year earlier.

YTD: Jan 1, 2026 - Oct 22, 2026 vs Jan 1, 2025 - Oct 22, 2025

Number of Filings130Prior 125 +4.0%

Target Raise, Total$3.37BPrior $3.54B -4.7%

	This YTD	Year prior	Change
Filings	130	125	+4.0%
Target raise	$3.37B	$3.54B	-4.7%

Sponsored by the Crowded Media Group the leading digital news service covering the global Fintech Industry, including digital assets, crowdfunding, tokenization, and other innovations in capital markets. email us @CrowdfundInside

Source: DisclosureQuest. Initial Form 1-A only.

Created by Crowded Media Group

This display counts initial Form 1-A filings only. It does not represent subsequent filings, including Form 1-A/A amendments or Form 1-A POS post-qualification updates filed by the issuer. Amounts are the stated Amount to be Raised on the initial filing, not capital raised and not amounts revised in later filings.

0 0 votes

Article Rating

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments

Newest

Oldest Most Voted