Cryptex has received a fraud warning from Germany’s Federal Financial Supervisory Authority (BaFin).

As per BaFin’s July 4th Cryptex warning;

The financial regulator BaFin warns against offers on the website cryptex-vip.com. The unknown operators offer crypto asset services without a license  via the website .

Specifically, they offer DeFi staking. Staking refers to the securing of cryptocurrencies  in return for rewards in the form of additional crypto tokens.

Cryptex is an MLM crypto Ponzi that is believed to have ties to Europe. This is based one early targeting of Germany and Austria.

Anyone offering banking, financial, securities, or crypto-asset services in Germany requires a permit or authorization from BaFin.

However, some companies offer such services without the required permit or authorization.

Cryptex offering unregistered securities is a violation of German financial law and constitutes securities fraud.

Interestingly the “Cryptex VIP” URL cited by BaFin appears to be a promotional site specifically targeting German-speaking consumers.

Despite having the same logo and branding, Cryptex VIP’s website states;

Important: We are not cryptex.to.

Clicking any of the marketing materials however reveals it is the same scheme as marketed on Cryptex’s primary website. BaFin isn’t buying the ruse and neither are we.

In addition to Germany, Austria issued a Cryptex fraud warning in April 2025.

As of June 2025, Cryptex website traffic is down 41% month on month.

As tracked by SimilarWeb, top sources of Cryptex website traffic are currently the US (31%, down 15% month on month), Switzerland (12%, down 27% month on month), Germany (10%), Australia (10%) and France (9%).

While recruitment in the US and Switzerland has collapsed, it appears Cryptex has found new suckers in Germany, Australia and France.