BaFin Warns Against VYNEX Trade Offers on WhatsApp
Summary
BaFin has issued a warning against VYNEX Trade for operating without authorization, offering financial and crypto-asset services via WhatsApp groups and the Lirunex Trading app. The warning highlights potential identity fraud and advises consumers to check BaFin's database for authorized companies.
What changed
The German Federal Financial Supervisory Authority (BaFin) has issued a warning against VYNEX Trade for providing unauthorized financial, investment, and crypto-asset services. The warning specifically addresses offers made within WhatsApp groups, recommending the Lirunex Trading app and several associated platforms, including vynextrade(.)com and lirunex(.)com. BaFin states that these operators lack the required authorization and warns of potential identity fraud, as there is no known connection to the Cypriot entity Lirunex Limited.
This warning serves to alert consumers to potential investment scams, particularly those originating from social media platforms like WhatsApp. BaFin emphasizes that all entities conducting banking or financial services in Germany must obtain authorization, which can be verified in their public database. Consumers are strongly advised to exercise extreme caution, conduct thorough research, and consult BaFin's resources to identify and avoid fraudulent schemes. The warning is based on sections of the German Banking Act (KWG) and the German Cryptomarkets Supervision Act.
What to do next
- Verify authorization of any financial service provider through BaFin's database before engaging services.
- Exercise extreme caution with investment offers received via social media platforms like WhatsApp.
- Report suspected unauthorized financial activities to BaFin.
Source document (simplified)
Erscheinung: 12.03.2026 | Topic Unauthorised business, Consumer protection VYNEX Trade: BaFin warns against offers in WhatsApp groups and against Lirunex Trading app
The Federal Financial Supervisory Authority BaFin warns against offers in WhatsApp groups, which are operated by alleged company VYNEX Trade. According to information available to BaFin, recommendations for the purchase of financial instruments and cryptocurrencies are offered in various WhatsApp groups, which can allegedly be traded via Lirunex Trading app and the following platforms:
- vynextrade(.)com
- globalft(.)world
- svype(.)app
- lirunex(.)online
- lirunex(.)com
- lirunex(.)network The unknown operators are providing financial, investment and crypto-asset services without the required authorisation. According to the current state of knowledge, there is no connection to the Cypriot Lirunex Limited. This is likely to be a case of identity fraud.
BaFin warns against investment scams via WhatsApp and Telegram.
Anyone conducting banking business or providing financial, investment or crypto asset services in Germany may do so only with authorisation from BaFin. However, some companies offer these services without the required authorisation. Information on whether companies have been authorised by BaFin can be found in BaFin ’s database of companies.
The information provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), section 10 (7) of the German Cryptomarkets Supervision Act (Kryptomaerkteaufsichtsgesetz).
Please be aware:
BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.
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