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The German Federal Financial Supervisory Authority is investigating HyperFund (BaFin).

According to a notification made on October 19th, BaFin has classified HyperFund as a “unauthorized business.”

According to Section 37 of the German Banking Act (KWG), the Hypertech Group with purported offices in Hong Kong and Australia (must) obtain license from the BaFin under the Banking Act or the Securities Institute Act (WpIG) to perform banking operations or provide financial services.

The BaFin has no jurisdiction over the HyperTech Group.

The language used by BaFin is a little clunky, but it is the equivalent of a securities fraud warning in other jurisdictions.

Banking and financial service providers in Germany must get a permission under the KWG.

However, some businesses operate without the necessary authorization.

Consumers are advised by BaFin, the Federal Criminal Police Office (BKA), and the State Criminal Police Office to be particularly cautious when investing on the Internet and to conduct extensive research ahead of time in order to detect attempted fraud in good time.

Germany’s warning follows warnings on HyperFund securities fraud made by Guernsey, the United Kingdom, and New Zealand.

Indian officials are also said to be looking into the Ponzi fraud.

HyperFund is a relaunch of the defunct HyperCapital Ponzi scam. Ryan Xu (aka Zijing Xu) runs both frauds under the “HyperTech” banner.

Xu has connections in Australia and Southeast Asia. He is said to have escaped to Dubai recently.

HyperFund hopes to conduct an unofficial event in Miami, Florida next month. Ryan Xu has been invited.

30th of October, 2021 – I’m not sure what’s going on at BaFin, but as of this update, access to their HyperFund securities fraud warning has been disabled.

In Germany, HyperFund is not registered to provide securities and continues to operate illegally.

4th November 2021 – Update A reader forwarded a link to BaFin’s HyperFund announcement in German. The previously available English language link has been replaced with a link to the German notification.

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