Remitano has acquired fraud warnings from Malaysia and the UK.
Malaysia’s Securities and Trade Fee (SEC) issued a Remitano investor alert in April 2021.
The UK’s Monetary Conduct Authority (FCA) issued a Remitano securities fraud warning in Might 2024.
Along with warning shoppers about investing with Remitano, the Malaysian SEC additionally took steps to dam Remitano nationally.
The SC views this transgression as severe and is working with the Malaysian Communications and Multimedia Fee (MCMC) to dam Remitano’s web site.
The regulator has additionally written to Google and Apple to disable the operation of Remitano’s cell functions in Malaysia.
Working a DAX with out acquiring SC’s approval to be registered as a Registered Market Operator (RMO) is an offence beneath Part 7 of the Capital Markets and Providers Act 2007.
If an individual is convicted, he could also be liable to a effective not exceeding RM10 million or imprisonment for a time period not exceeding ten years, or each.
Buyers are urged to instantly stop buying and selling by means of the platform and to withdraw all their investments earlier than Remitano’s web site is blocked and turns into inaccessible in Malaysia.
The FCA warns that Remitano
could also be selling monetary companies or merchandise with out our permission. You must keep away from coping with this agency.
Providing unregistered monetary companies violates UK monetary legislation (securities fraud).
BehindMLM reviewed Remitano in June 2023 and took subject with its unregistered RENEC token funding scheme.
Remitano’s funding plans see associates click on a button to take a position cryptocurrency. That is completed on the promise of a return, which associates can see accumulate in real-time.
Remitano’s staking is the same old “make investments cryptocurrency on the promise of a passive annual return” affair.
Reminato’s lending platform sees associates spend money on a lending ruse, once more pitching numerous passive annual returns.
All three of Remitano’s funding schemes represent securities choices. In an effort to function legally, Remitano has to register these securities choices with monetary regulators.
Nowhere on Remitano’s web site does it present proof of getting registered with monetary regulators in any jurisdiction.
Because of this at a naked minimal, Remitano is committing securities fraud and working illegally.
Within the pursuits of transparency, this text was preceded by Bryan from Remitano reaching out on April eleventh.
Pricey BehindMLM Crew,
I’m writing on behalf of Remitano concerning your article “Remitano Assessment: RENEC funding securities fraud” revealed on June 5, 2023.
Since 2014, Remitano’s mission has been to deliver cryptocurrency nearer to on a regular basis customers by offering a safe and simple‑to‑use platform, and our merchandise have been positively acquired in lots of markets.
We want to make clear that we don’t function on a Ponzi mannequin; like many cryptocurrency exchanges, we use an associates program solely as a advertising and marketing software, rewarding referrals primarily based on buying and selling charges reasonably than recycled deposits.
Over time, now we have persistently invested in safety and compliance, and Remitano has not too long ago achieved a CryptoCurrency Safety Commonplace (CCSS) Full System certification, aligning our practices with business‑acknowledged safety benchmarks.
As well as, we maintain sure licenses or registrations in particular jurisdictions and proceed to work with native authorities and companions to make sure regulatory alignment.
We’re involved that the article accommodates statements we consider are inaccurate or now not present and that it consists of private details about people who’re now not concerned in Remitano’s operations, which can negatively affect each the corporate and their non-public lives.
In a constructive spirit, we respectfully request that you simply contemplate eradicating the article or updating it to mirror correct and up‑to‑date details about our enterprise mannequin, safety posture, regulatory standing, and present group.
We’d be happy to supply any supporting documentation chances are you’ll require and are open to exploring potential collaboration alternatives, together with promoting, in step with your insurance policies.
Thanks sincerely in your time and consideration.
For context, the “people” Bryan avoids mentioning are Remitano co-founders Phuong Nguyen, Dung Huynh, Phuoc Nguyen and Tam Vo.
Bryan’s electronic mail learn like a typical PR message; stuffed with irrelevant waffle, gentle on specifics and failing to handle considerations raised in BehindMLM’s evaluation.
Not desirous to waste any time, later the identical day I merely replied;
Hello Bryan,
Be particular. Thanks.
As an alternative of addressing considerations raised in BehindMLM’s Remitano evaluation, Bryan replied on April twelfth with a bribe supply;
Hello Oz,
Thanks in your message. Following up on our earlier communication, we wish to deal with the precise considerations concerning the article “Remitano Assessment: RENEC funding securities fraud.” As talked about, the content material continues to affect our enterprise popularity and the non-public lives of people now not related to the corporate.
Within the curiosity of resolving this matter, may you please tell us if there’s a particular charge or administrative value required to have the publish eliminated out of your platform?
Thanks in your time and we look ahead to your suggestion.
To which I replied later the identical day;
BehindMLM stands by its analysis and doesn’t take away content material.
You didn’t really particularly deal with something within the evaluation. Whether or not Remitano’s securities fraud is impacting your small business popularity” isn’t an editorial concern.
I additionally nonetheless don’t know which “people” you’re speaking about.
What I’ve famous is Remitano securities fraud warnings issued by Malaysia and the UK.
I additionally notice Remitano’s unregistered “liquidity” funding scheme is down for upkeep. And the unregistered “lending” funding scheme “will shut on June 30, 2026.”
Are you able to affirm whether or not each funding schemes have collapsed? What’s the particular purpose for the liquidity “upkeep”?
Is there a pending regulatory enforcement motion? Have funds been frozen/seized?
On April 14th, Bryan responded with the e-mail he ought to have initially despatched;
Hello Oz,
Thanks in your detailed reply and for clarifying your editorial place.
On the precise factors you raised:
1. Malaysia and UK regulatory warnings
Malaysia at present has a really restricted variety of licensed digital asset exchanges and, in follow, solely helps licensing for domestically integrated entities.
Remitano didn’t get hold of a licence in Malaysia and, following the Securities Fee’s reprimand and inclusion of Remitano on its Investor Alert checklist, we promptly ceased providing companies to Malaysian customers and cooperated with requests to limit entry to our platform there.
Equally, within the UK, Remitano is on the FCA’s warning checklist as an unauthorised agency, and we don’t actively serve UK customers or market our companies in that jurisdiction.
We additionally notice that we’re not distinctive in being topic to warnings or entry restrictions in Malaysia; different properly‑identified world crypto platforms have confronted comparable actions when working with out native authorisation.
2. “Securities fraud” / “unregistered” language
We totally respect the position of regulators and the media in warning customers about unlicensed or greater‑threat companies. Our concern is that the article’s repeated use of “securities fraud” and “unregistered” doesn’t clearly distinguish between particular jurisdictions (e.g., Malaysia, UK) and our actions elsewhere, which can provide readers the impression that Remitano is engaged in securities fraud or illegal exercise globally, reasonably than that now we have been handled as an unauthorised operator in sure markets.
We consider it could be extra correct and truthful to anchor these phrases explicitly to the related nations and regulatory actions, as a substitute of implying a common standing.
3. People talked about within the article
The people named in your article (together with Dung and Tam) are now not concerned in Remitano’s operations. They’re non-public people whose present skilled and private lives are unrelated to Remitano.
Whereas we perceive that you don’t take away content material, we respectfully ask that you simply contemplate eradicating or anonymising private particulars which can be now not related to the present state of the enterprise, in step with primary privateness and proportionality concerns.
4. Liquidity “upkeep” and lending closure
Relating to the “liquidity” function: the present restriction you see (for instance on BTC–USDT) is a threat‑administration determination primarily based on inner liquidity, market‑making and counterparty‑threat controls.
It’s not the results of any regulatory enforcement motion, nor a sign that the function has “collapsed” or that person funds associated to this function have been frozen or seized. Please see connected.
5. Relating to the Lending function:
It applies solely to crypto belongings (we don’t assist fiat lending).
We function it solely in areas the place we both maintain the mandatory registrations/licences or the place there may be presently no particular native prohibition on such crypto lending merchandise.
The discover that “The Lending function on Remitano will shut on Jun 30, 2026. Please repay loans and withdraw funds in time.” is a product‑lifecycle and threat‑administration determination. It’s not pushed by any identified discovering that the function violates native legal guidelines in any jurisdiction. We’re winding down the product in an orderly manner to make sure all customers can totally repay and withdraw.
6. To reply your direct questions:
There is no such thing as a pending regulatory enforcement motion in opposition to Remitano that’s inflicting the “upkeep” of the liquidity function or the deliberate closure of the lending function (past the historic Malaysia motion referenced above, which has already been carried out by ceasing companies there).
Person funds haven’t been frozen or seized in relation to those options. Customers proceed to have the ability to repay, withdraw, and handle their positions as indicated within the product notices.
7. Safety and compliance efforts
We proceed to take a position closely in safety and compliance, together with acquiring a CryptoCurrency Safety Commonplace (CCSS) Full System certification (Cert ID: 9.0‑CCSS.00003), which is publicly listed by the CryptoCurrency Certification Consortium.
Whereas this doesn’t change native licensing necessities, it evidences our ongoing efforts to align our practices with recognised business safety benchmarks.
We totally settle for that you could be disagree with our characterisation, however we hope you’ll contemplate updating the evaluation to higher mirror the present actuality and keep away from unintentionally deceptive customers about our regulatory and product standing.
We’d genuinely recognize any changes that guarantee readers obtain correct, jurisdiction‑particular data.
– Title “securities fraud” / “unregistered” language explicitly to particular jurisdictions and regulatory notices (e.g., Malaysia SC, UK FCA),
– Make clear that sure merchandise (liquidity, lending) are being restricted or wound down for inner threat and product‑lifecycle causes, not as a result of they’ve “collapsed” or as a result of frozen/seized funds, and
– Take away or anonymise people who’re now not a part of Remitano.
We’re additionally very open to additional suggestions from you on how we are able to enhance each our merchandise and our disclosures, and we’re prepared to supply further data or clarification the place wanted.
To this point, no person funds have been frozen or seized in reference to the problems mentioned above; if you’re conscious of any particular case suggesting in any other case, we’d be grateful in the event you may share the related particulars in order that our group can examine and, the place applicable, deal with the matter by means of our customary processes.
Thanks once more in your time and consideration.
To which, on April sixteenth, I replied;
Hello Bryan,
1. So as a substitute of registering in Malaysia and rectifying the fraud, Remitano simply ceased providing its fraud in Malaysia however continued to supply unregistered securities elsewhere. Ditto the UK.
Ceasing to supply unregistered funding schemes in jurisdictions that subject investor warnings doesn’t rectify or legitimize the underlying securities fraud.
2. Simply in case I wasn’t clear (I believed was fairly clear within the evaluation), Remitano is committing securities fraud in each jurisdiction it affords passive returns funding schemes in (by any title).
Within the US a safety is recognized by means of the Howey Check. Different nations won’t explicitly use the Howey Check however securities with respect to unregistered funding schemes are outlined the identical.
Whether or not warnings have been issued in opposition to different fraudulent funding schemes doesn’t justify Remitano’s securities fraud.
Be at liberty to supply audited monetary experiences (backdated to at the very least June 2023) and proof Remitano has registered with SEC equivalents in each jurisdiction it solicits funding in.
Failing which, thanks for confirming Remitano’s ongoing securities fraud.
3. Phuong Nguyen, Dung Huynh, Phuoc Nguyen and Tam Vo are Remitano’s founders. Time doesn’t change that data.
That stated, if any of the unique co-founders have since cashed out and left the corporate, be happy to supply particulars of Remitano’s present possession and govt construction.
4. So advertising and marketing waffle apart, new funding has dried up. Save us a little bit of time and maintain issues easy, thanks.
5. BehindMLM’s evaluation documented Remitano’s securities fraud. As beforehand said, be happy to supply proof of audited monetary experiences filed with regulators Remitano has registered with, backdated to at the very least June 2023.
There is no such thing as a nation on the planet that allows unregistered securities providing however provided that funding is solicited in cryptocurrency.
6. What upkeep particularly are we speaking about right here? How lengthy has this “upkeep” been happening for? How lengthy is that this “upkeep” anticipated to proceed for?
Deliberate upkeep within the tech world is often measured in minutes, maybe hours. Any longer than that and it’s extremely doubtless one thing is being lined up.
7. CCSS and different advertising and marketing BS isn’t an alternative to registering securities choices with monetary regulators and periodic audited monetary experiences.
This can be a authorized requirement that, as per monetary legislation in each nation with a regulated monetary market, is non-negotiable to ensure that Remitano to legally solicit funding from shoppers.
I shall be placing collectively an article to notice Remitano’s two securities fraud warnings. I’ll even be noting failure to supply proof of registration with monetary regulators and submitting of audited monetary experiences if that can also be the case.
Fortunate for Bryan MLM information has been fairly heavy for the reason that sixteenth so I’m solely getting round to this text now. Funnily sufficient, Bryan has not responded to my April sixteenth response.
Suggesting Bryan may need been mendacity about pending regulatory motion, or Remitano’s funding schemes did in truth collapse, at this time there isn’t a public point out of Remitano’s funding schemes on its public-facing homepage.
One can nevertheless discover reference to the collapsed “liquidity” (staking) scheme in Remitano’s web site assist information:
Be aware the publication date of April 1st, 2026. Someday between this information being revealed on April 1st, Bryan emailing me on April eleventh and me noting the scheme was frozen on April 12, Remitano quietly scrubbed point out of its unregistered liquidity “staking” scheme.
Between regulatory fraud warnings and Remitano’s dodgy behind-the-scenes shenanigans, avoiding the rip-off altogether looks as if an apparent determination.
An October 2025 report from Vietnamnet International famous Remitano was a part of a Vietnamese crypto black market, chargeable for “over $490 million” in client losses as a result of “on-line fraud”.
Whether or not Vietnamese authorities are investigating Remitano and its Vietnamese co-founders stays unclear.
A go to to Remitano’s social media feed reveals a advertising and marketing push concentrating on Nigerians:
From the March thirty first profile photograph rebranding famous above, Remitano’s advertising and marketing now options black influencers and inventory pictures that includes black folks.
As of March 2026, SimilarWeb was monitoring ~3800 month-to-month Remitano web site visits.
High sources of Remitano web site visitors over the identical interval had been Vietnam (91%) and the US (9%).
Whether or not Remitano’s push into Nigeria pays off and generates new victims stays to be seen.
