BaFin Warns Mjolnex Offers Unauthorized Financial Services

BaFin News

Filed March 12th, 2026

Detected March 12th, 2026

Summary

Germany's Federal Financial Supervisory Authority (BaFin) has issued a warning against Mjolnex for allegedly offering financial, investment, and crypto asset services without the required authorization. The warning targets offers made on the website mjolnex-ltd(.)com.

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What changed

BaFin has issued a public warning against Mjolnex, a company allegedly based in Frankfurt, for conducting unauthorized financial, investment, and crypto asset services. The warning specifically addresses offers made via the website mjolnex-ltd(.)com and is based on provisions within the German Banking Act (KWG) and the German Cryptomarkets Supervision Act. BaFin emphasizes that conducting such business in Germany requires explicit authorization.

This action serves as a direct alert to consumers and potential investors to exercise extreme caution when encountering online financial service providers. Regulated entities and consumers are advised to verify authorization status through BaFin's official database before engaging in any financial transactions. While this is a warning and not an enforcement action with immediate penalties, operating without a license carries significant legal consequences under German law, and BaFin's alert aims to prevent potential fraud and financial losses for consumers.

What to do next

Verify Mjolnex's authorization status on BaFin's company database before engaging in any financial transactions.
Exercise extreme caution with online financial service providers and conduct thorough due diligence.
Report any suspected unauthorized financial activities to BaFin via their whistleblower contact point.

Source document (simplified)

Erscheinung: 12.03.2026 | Topic Unauthorised business, Consumer protection Mjolnex: BaFin warns against offers on website mjolnex-ltd(.)com

The Federal Financial Supervisory Authority BaFin warns against offers on the website mjolnex-ltd(.)com. According to information available to BaFin, the company Mjolnex, allegedly based in Frankfurt, is offering financial or investment services and crypto asset services without the required authorisation.

Anyone conducting banking business or providing financial or investment 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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