Passivo is under regulatory investigation by BaFin, Germany’s top financial regulator.
As per an August 9th fraud warning, BaFin advises that Passivo is offering
banking and financial services without permission.
Specifically, it offers the management of customer assets in crypto assets.
This is the equivalent of a securities fraud warning in other jurisdictions.
In light of Passivo commiting securities fraud in Germany, BaFin advises it is under investigation.
In an attempt to hide its connection to Dubai, Passivo pretends it is based out of Seychelles.