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CoinBene Accused by German Regulator of Unlicensed Crypto Trading

Anca Florentis by Anca Florentis
May 29, 2019
in News
CoinBene unlicensed

One of the major financial regulators Germany has made an announcement in which it accuses the CoinBene cryptocurrency exchange of offering unlicensed trading services.

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) warns traders in its announcement to not use CoinBene, as the platform does not hold any operation license. Another claim mentioned is that CoinBene has been employing freelance cryptocurrency traders to make the trades for their platform.

According to the announcement, CoinBene LTD Germany does not appear to be listed in the commercial register of the country. Cryptocurrencies are currently classified in Germany as “financial instruments.” Due to this classification, trading operations in the country should receive authorization from the German Banking Act Kreditwesengesetz (KWG).

CoinBene has denied that it was operating or intending to open a subsidiary in Germany. From a tweet made before BaFin’s announcement, the Coinbene job offers for Germany-based freelance cryptocurrency traders were false.

https://twitter.com/CoinBene/status/1132177084472745987

As CoinBene is denying having any operating offices in Germany, we are left wondering who in fact operates CoinBene LTD Germany. The company does not appear anywhere in the country’s commercial registry, and no individual can be pinned to the operation.

But this is not the first accusation brought to CoinBene. Many from the crypto community believed that in April that CoinBene had suffered a hacked after they noticed a large amount of cryptocurrency leaving the exchange.

CoinBene countered this claim by responding that the platform was “undergoing maintenance.” But after a month had passed and another $100 million had left the exchange, the company still claimed that it was still under maintenance.

It was later proven by researchers from analytics firm CipherTrace that the CoinBene “maintenance” was actually a cover for a hack, making the discovery that the exchange lost $105 million in cryptocurrency from March 25 to 28 when the hack allegedly occurred.

Featured image: Incrypts

Tags: Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)coinbeneCoinbene exchangeunlicensed exchange
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Anca Florentis

Anca Florentis

Investigative Journalist | Adoption Reporter | Human-Centered Crypto Storyteller
Anca Florentis is a journalist and market researcher whose work sits between investigative reporting and human-centered crypto storytelling. At TheCCPress, she covers adoption, market transparency, founder and company narratives, and the social consequences of crypto expansion across different regions. Her writing is built around people, incentives, and public trust rather than abstract market chatter.

“A strong crypto story should explain not only what happened, but who it affected and why trust changed.”

Profile
- Gender: Female
- Born: July 1993
- Based: Cluj-Napoca, Romania
- Company: TheCCPress
- Website: https://theccpress.com/
- Coverage Focus: Investigations, people, adoption, company stories, regulatory tension

Experience
Anca’s background spans financial reporting, fintech journalism, and crypto research. She has worked on stories involving European regulation, cross-border payments, DeFi adoption, and early Bitcoin use cases, which gives her a broad base for narrative journalism that remains grounded in evidence. At TheCCPress, she is especially useful when a story needs both reporting discipline and a human-centered angle.

Background
She studied economics and international business before deepening her work in digital media and communication. That combination shaped her reporting style: structurally aware, curious about systems, but still focused on the people and organizations moving through those systems. She is particularly effective on pieces where institutional language hides a more personal or social conflict underneath.

Achievements
Anca has contributed feature reporting, event coverage, founder interviews, and market-context journalism across European crypto and fintech topics. Her strongest contributions are stories that connect adoption or regulation with people, incentives, and trust rather than treating those issues as abstract themes.

Work Style
She writes with a measured investigative tone and tends to work from interviews, documented context, and narrative framing rather than short-form reaction. That makes her a strong fit for TheCCPress sections where the goal is to explain how a story unfolded and why it matters beyond a single market cycle.

Skills
Anca’s key strengths include investigative journalism, market research, founder and company profiling, regulatory reporting, feature writing, and cross-border crypto context. She is especially valuable on stories that need both narrative depth and factual discipline.

Additional Information
Within the new site structure, Anca fits naturally in investigations/controversy, people/founders, people/institutions, and selected stories/company-sagas. She helps TheCCPress sound more like a real editorial publication and less like a generic crypto feed.

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