The German Federal Financial Supervisory Authority BaFin recently announced an investigation into UUEX, citing the company's unauthorized provision of banking or financial services in Germany.

According to the official announcement, according to Article 37 (4) of the German Banking Act (KWG), any company providing banking or financial services in Germany must obtain authorization from BaFin, and UUEX is not regulated by BaFin.

According to the information provided by UUEX's website uuexpro.com, the company is suspected of conducting banking and providing financial services in Germany without obtaining necessary authorization.

BaFin stated that investors can find information on whether a company has obtained BaFin authorization in their company database. In addition, BaFin, the German Federal Criminal Police and the German State Criminal Police suggest that investors should maintain high caution when making online investments and conduct necessary investigations in advance to avoid being deceived.