Passivo is currently being investigated by BaFin, the top financial regulator in Germany. According to a fraud warning released by BaFin on August 9th, Passivo is providing banking and financial services without proper authorization. Specifically, it offers customer asset management in crypto assets. This fraudulent activity is similar to a securities fraud warning in other countries. As a result of Passivo’s involvement in securities fraud in Germany, BaFin has initiated an investigation into the company. Passivo is a MLM (multilevel marketing) crypto Ponzi scheme based in Dubai, led by German national Jan Lubberding. In an attempt to conceal its ties to Dubai, Passivo claims to be located in Seychelles.

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