Bitpanda Auditors Find Security Issues, Mirroring Regulator Concerns
- Bitpanda, a European cryptocurrency exchange backed by investors including Peter Thiel, experienced internal audit warnings about its operations in 2025, despite previously assuring German regulators it had addressed...
- Internal auditors at Bitpanda Asset Management GmbH, Bitpanda's German subsidiary, raised red flags regarding the Berlin firm's operations in 2025.
- These findings are part of The Coin Laundry,an inquiry by the International Consortium of Investigative Journalists (ICIJ).
Bitpanda Faced Internal Audit Concerns Despite Regulatory Assurances
Bitpanda, a European cryptocurrency exchange backed by investors including Peter Thiel, experienced internal audit warnings about its operations in 2025, despite previously assuring German regulators it had addressed prior concerns.
Details of the Audit Findings
Internal auditors at Bitpanda Asset Management GmbH, Bitpanda’s German subsidiary, raised red flags regarding the Berlin firm’s operations in 2025. These warnings surfaced months after the subsidiary informed Germany’s Federal Financial Supervisory Authority (BaFin) that it had resolved issues identified during a routine BaFin audit.Reporting by Süddeutsche Zeitung, WDR and NDR in germany, and profil magazine in Austria, revealed these discrepancies.
Evidence and Timeline
- January 13, 2026: Bloomberg reported Bitpanda was preparing for a potential initial public offering (IPO) on the Frankfurt Stock Exchange in the first half of 2026. Source: Bloomberg
- 2025: Internal auditors at Bitpanda Asset Management GmbH raised concerns about Bitpanda’s operations. Source: Süddeutsche Zeitung, Source: WDR and NDR, Source: profil
- Prior to 2025: BaFin conducted a routine audit of Bitpanda Asset Management GmbH and raised initial concerns.
These findings are part of The Coin Laundry,an inquiry by the International Consortium of Investigative Journalists (ICIJ).