Remitano Faces Fraud Warnings from Malaysia and UK, Operating Unregistered Investment Schemes
Remitano, a cryptocurrency exchange, has received official fraud warnings from regulators in Malaysia and the United Kingdom. Both authorities have flagged the platform for offering financial services without proper registration.
Malaysia Securities Commission Warning (2021)
In April 2021, Malaysia’s Securities Commission (SC) issued an investor alert against Remitano. The regulator blocked access to the Remitano website nationwide and requested Google and Apple to remove its mobile apps from Malaysian stores.
Operating a digital asset exchange without registration as a Registered Market Operator (RMO) violates Section 7 of Malaysia’s Capital Markets and Services Act 2007. Conviction can result in fines up to RM10 million or imprisonment for up to 10 years, or both.
The SC urged investors to stop trading and withdraw funds before access was fully blocked.
UK Financial Conduct Authority Warning (2024)
In May 2024, the UK’s Financial Conduct Authority (FCA) added Remitano to its warning list. The FCA stated that Remitano may be promoting financial services without authorization and advised the public to avoid dealing with the platform.
Unregistered Investment Schemes
Remitano offers several investment products, including:
- RENEC token investment
- Liquidity / Staking (click-a-button passive returns)
- Lending platform (passive annual returns)
These products are considered securities offerings in most jurisdictions. Remitano has not provided evidence of registration with financial regulators in any country where it promotes these schemes.
Current Status of Investment Features
- The “Liquidity” (staking) feature is under maintenance or quietly removed.
- The Lending feature is scheduled to close on June 30, 2026.
- No clear public mention of these investment schemes remains on Remitano’s homepage.
BehindMLM Investigation & Remitano’s Response
BehindMLM first reviewed Remitano in June 2023, highlighting its unregistered securities offerings. In April 2026, a Remitano representative named Bryan contacted the site requesting updates or removal of the article.
Remitano claimed the schemes are being wound down for internal risk management, not due to collapse or regulatory action. They also stated they ceased operations in Malaysia and the UK after receiving warnings but continue elsewhere.
No audited financial reports or proof of regulatory registration in active markets were provided.
