BIONM App Promised 15% in Two Months and Cost a Retiree RM1.36 Million
A 70 year old manager has lost RM1.36 million after falling victim to an online investment scam through a mobile app named ‘BIONM’.
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Abstract:French regulators have flagged 23 new websites for offering unauthorized Forex and crypto-derivative services.These platforms, which lack the necessary licenses, continue to target local investors with aggressive marketing and unrealistic profit promises. Authorities warn that many of these sites use misleading branding and domain names to appear credible.

A growing number of investment platforms continue to target French users with offers in forex trading and crypto derivatives—without having the legal right to do so. In response, Frances financial sector watchdogs have publicly identified 23 websites involved in unauthorized investment solicitation.
The platforms operate across two sectors: traditional foreign exchange (Forex) and derivatives based on crypto assets. Although they claim to offer profitable trading services, none of these websites hold the necessary licenses to promote or provide such financial products in France.
These platforms are not new to the digital investment scene. In many cases, the websites share common traits: vague company backgrounds, misleading contact details, aggressive promotion, and promises of high returns with minimal risk. Some have even mimicked the branding of licensed institutions or used web domains similar to legitimate financial groups.
Since 2019, French authorities have blacked out more than 1,200 such websites. Still, new domains appear frequently, often replicating the look and language of previously banned operators under fresh branding.
As unlicensed platforms remain active despite repeated enforcement actions, digital investors are urged to approach unsolicited offers with extreme caution—especially those involving Forex or crypto derivatives, which are often high-risk and complex by nature. Tools like WikiFX, a global broker inquiry platform, can help users verify regulatory status and reduce exposure to fraudulent services.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

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