QuantBitex - Swiss finma and Belgian FSMA warn

The alleged online broker QuantBitex sells itself as a credible platform for trading with cryptocurrencies. However, there are numerous indications that there are serious abuses at QuantBitex. Reports from traders about QuantBitex are piling up, talking about telephone terror, rip-offs and investment fraud. Many have lost their capital invested with QuantBitex. Serious doubts are spreading. Meanwhile, many investors of QuantBitex are worried that it is an investment fraud. All QuantBitex investors are wondering if they have become victims of investment scammers? And what can QuantBitex investors do if the suspicion of investment fraud is confirmed? How can QuantBitex investors get their money back? Does it make sense to file a criminal complaint against QuantBitex with the police? What help is available in case of investment fraud?


QuantBitex: Exaggerated promises on the website
What are the baffled traders being led to believe on QuantBitex's website? "QuantBitex is a world-renowned broker that puts the client first...QuantBitex offers a variety of advanced trading tools, as well as an experienced team of experts at your disposal." This is just a small example of the untrustworthy promises investors can find on QuantBitex's website. None of these lofty assurances from QuantBitex have been kept. Unfortunately, if anything, the troubling business practices make for unhappy investors and miserable experiences!


QuantBitex: playing hide and seek with the domain entry!
Remarkable for the business practices of the QuantBitex makers is that the website quantbitex.com does not contain an imprint. Thus, the complete information about the legally responsible operators of the website is missing. If one takes a look at the domain data of the QuantBitex website, there are no references to the operators to be found. However, one learns that the domain was registered with NameCheap, Inc. only on 11.12.2020. The real domain owners hide behind the Icelandic anonymization service Withheld for Privacy ehf.


QuantBitex: Who is behind it?
Answering this question will be rather difficult for many investors, as the QuantBitex makers do everything they can to conceal the true circumstances. However, this is nothing unusual. The perpetrators mostly operate several of these websites with the same fraudulent business model. These are created in advance, quickly put online and just as quickly shut down. The top-level domain is often changed to deceive financial regulators and law enforcement agencies. But who is the operator? There is scant information about this on the QuantBitex website. No company name is given, only the business address Bahnhofstrasse 10, 8001 Zurich, Switzerland, but the makers of QuantBitex cannot be found under this address. In addition, there is an obligatory support e-mail address and the British telephone number +442045427999. A worldwide search for QuantBitex in the relevant registers leads to no result.


QuantBitex: The customer acquisition of the investment scammers
Here the same procedure can be found again and again: In order to acquire new customers, the recommendations of QuantBitex are advertised in all available media and channels. Often enough, these recommendations are incorrect claims. To increase the effect, they upload films on Youtube, in which interested investors are convinced with invented references. Here, supposed celebrities report on their experiences with online trading and cryptocurrencies, often with a misleading reference to the TV show "Die Höhle der Löwen". At the same time, a mostly aggressive affiliate program is started to motivate others to beat the advertising drum for QuantBitex.


QuantBitex: criminal business practices.
As soon as the customer has registered on the trading platform, he receives calls from alleged financial brokers who like to refer to their years of experience and satisfied customer base. In many cases, however, the makers of this business model are fraudsters, against whom the Federal Criminal Police Office and the Federal Financial Supervisory Authority (BaFin) also warn. Usually the investors start with a small sum as employment. Beforehand, investors are also often motivated to install remote maintenance software, such as AnyDesk or TeamViewer on their computers, so that assistance can supposedly be provided with the first steps. In many cases, the computer is subsequently manipulated and unwanted transactions are carried out. In the process, the investment fraudsters also frequently gain access to their victims' online banking. What is particularly criminal, however, is when supposed profits are displayed on the trading platform in order to entice the customer to place further high stakes. In some cases, even small sums are returned in order to lull investors into a sense of security. Who then does not want to further increase the stakes? But what happens next?


QuantBitex: repayment of money is subject to conditions
Once in, an exit is mostly impossible. Rather, the administrators of the investment scammers tie a repayment of the money to further deposits. This is where employees come in, claiming alleged tax debts and commission payments. If these are settled, it would come to the disbursement of the allegedly obtained profits. The perpetrators send the investors self-made tax and commission statements, often decorated with fake coats of arms. These would have to be paid urgently. A clearing with the allegedly obtained profits, is never possible. If an investor refuses further deposits, alleged profits are converted by senseless transactions into losses and the customer maximally damaged. This is not the end of the horror, but investors are permanently confronted with calls from other dubious providers. This indicates that the contact details of the investors are further traded among the investment fraudsters. In the end, a "savior" regularly comes forward, claiming to have uncovered the whole scam. He impresses with his insider knowledge. No wonder, since he is part of the fraud gang. The next rip-off! And of course, the "savior" wants a small fee - in advance!


QuantBitex: Scheme of investment fraud?
There is no legitimacy of the online broker QuantBitex. QuantBitex lacks legitimacy from a recognized European supervisory authority, such as the Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySec), which is often used by brokers. Likewise, there is no approval from the Swiss Financial Market Supervisory Authority (finma) or the Financial Market Authority (FMA) of Austria, which is responsible for Switzerland. For this, there is a warning from the Financial Services and Markets Authority (FSMA) dated10.03.2021. This is the Belgian supervisory authority for the financial market and financial services. This warning was joined by finma on 08.07.2021. It is also difficult to overlook the fact that QuantBitex is a scheme of capital investment fraud. All investors harmed by QuantBitex are advised to consult an investment fraud attorney as soon as possible.


QuantBitex: where do the fraudsters operate?
Investors are dealing with investment fraud at QuantBitex in Germany, Switzerland and Austria. Unfortunately, the illegal activities of QuantBitex were not limited to German-speaking countries. Because QuantBitex is equally targeting English-speaking investors around the world, it is not surprising that these defrauded traders are also coming forward. Going through the list of regulators is recommended before any financial commitment to reduce the risk of becoming a victim of investment fraud.


QuantBitex: Claims for damages against banks
Anyone wishing to provide financial services and investment transactions in Germany requires a permit from the Federal Financial Supervisory Authority (BaFin). Doing, supporting or facilitating such business, even cross-border into Germany, is prohibited. Persons who participate nevertheless in it are obligated to the damaged Tradern to payment of damages. These investment fraud cases would not have been feasible without such banks.


QuantBitex: Investors want their money back!
Fortunately, the situation is not as hopeless as it seems. The aggrieved investors can take countermeasures and demand their invested capital back. At the moment it is rather unlikely that the investment fraudsters of QuantBitex will be caught soon, but nevertheless there is reason for hope. Especially because the money transactions were made through accounts that were actually provided by reputable financial institutions. Their responsible persons have undoubtedly neglected to check the sometimes high and therefore controllable deposits of the investors and their forwarding for illegality. These negligences made the investment fraud possible in the first place.


QuantBitex: They want their money back! How does it work?
Knowing this, investors would not have entered into a business relationship with QuantBitex. Now the only way left for them is to try to recover the misappropriated capital. Many investors cannot even imagine that there is a real chance of ever seeing their money again. Probably all of them are now wondering if they can get their money back? Clearly yes! There are numerous legal bases to fall back on. The generic term is "money laundering." When investment fraudsters collect money, the crime of money laundering is committed. Financial institutions have a duty to take action against money laundering. This is where one starts with good chances of success. First, essential points should be clarified. Where were the funds embezzled by QuantBitex taken? Is there a realistic chance that the bruised investors will get back the money they invested with QuantBitex? What precautions are advisable next? You can get the answers to these questions from a lawyer specializing in investment fraud.


QuantBitex: Who can help?
What to do in case of investment fraud? What help with investment fraud can the victims of QuantBitex hope for? QuantBitex victims can ideally find the help they need from an experienced investment fraud attorney. He or she will be able to take care of your QuantBitex case both in terms of the criminal aspects of investment fraud, as well as the recovery of funds and possible claims for damages. A lawyer for trading is also a possibility, because he is also familiar with the methods of fraudulent brokers, such as QuantBitex.


QuantBitex: Follow the money trail!
The investor protection law firm Resch Rechtsanwälte has been investigating such abuses on the unregulated capital market for more than 30 years. The procedure of the QuantBitex is from there nothing really new. Over the years, Resch Rechtsanwälte has developed some powerfully strong tools for tracking down the evaded amounts of money and tracing the money flows. In the age of the Internet, it is becoming increasingly costly to actually make funds disappear. The sooner investors follow the money trail, the more likely they are to have their money secured. Above all, it is important that investors who have been harmed by QuantBitex react immediately.


RESCH Attorneys at Law - Experience in investor protection since 1986
If you have been a victim of QuantBitex and want to know if and how you can get your money back, call 030 885 9770 or fill out the questionnaire. You will receive a free assessment of your case.