Blackfort Wallet has received a securities fraud warning from Germany.

As per BaFin’s June 29th warning, Blackfort Wallet is offering unregistered securities.

BaFin warns of offers from Blackfort Tech Estonia OÜ. According to their findings, the company offers banking transactions or financial and/or securities services via its website without permission.

Securities fraud in Germany is a violation of the German Banking Act.

BlackFort Wallet is operated by persons unknown. On the corporate side of things, BlackFort Wallet is set up through the Estonian shell company Blackfort Tech Estonia OÜ.

To date Estonian authorities haven’t taken any action against Blackfort Wallet or its shell company.