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German BaFin warns against the BexStock, beEXP, and InvestEXP scams

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The German regulator BaFin has issued an investor warning against BexStock (http://www.bexstock.com), allegedly a successor to InvestEXP (http://www.investexp.de) and beEXP (http://www.beexp.de) scams. BS ASIA Pte. Ltd, Singapore, allegedly operates them. In our quick review, we found BexStock‘s payment processors to be NeoBanQ (http://www.neobanq.com) and PaymentsPro (http://www.paymentspro.ch), as well as the cryptoprocessor Larco (http://www.larco-global.com). So stay far away from BexStock and keep your money.

BaFin had already issued a Cease and Desist Order against InvestEXP in March 2021.

As far as we could tell, there is no deep API integration between the BexStock scam and the crypto payment processor Larco operated by the licensed Estonian Larco Global OÜ. The operators of BexStock are apparently registered as partners or affiliates of the payment processor.

The white-label BexStock scam is not difficult to spot. Therefore, victims should not fall for it. Unfortunately, we know that fraudulent marketing campaigns and aggressive boiler room agents often make victims’ deposit money. Stay far away from BexStock and other scams, and you will save yourself money and frustration.

CategoriesBaFin

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