Greek Regulator Warns Against Unauthorized Crypto Platform Evrostovaltis-AI

Key Takeaways

• The Hellenic Capital Market Commission (HCMC) has issued a public warning that the online trading platform evrostovaltis-ai.com is not authorized to provide investment or crypto-asset services in Greece.
• Although this notice was relayed via the Norway Financial Supervisory Authority's alert system, the originating authority and jurisdiction are Greek, highlighting the cross-border nature of unauthorized entity warnings that compliance teams must track across multiple regulators.

Deep Dive

This warning is part of a broader pattern of regulatory actions targeting unauthorized online trading and crypto-asset platforms that solicit investors without proper licensing. The HCMC confirms that evrostovaltis-ai.com is not registered as an investment firm under Section C of Annex I of Law 4514/2018, nor has it obtained crypto-asset service provider (CASP) authorization under Article 62 of the EU's Markets in Crypto-Assets Regulation (MiCA, Regulation (EU) 2023/1114), nor does it hold a passporting right under Article 65 of the same regulation. This places the platform firmly outside the EU's regulated perimeter for both traditional investment services and crypto-asset activities.

For compliance teams, this notice is a reminder of the increasing regulatory scrutiny on unlicensed platforms operating under MiCA's new crypto-asset framework, which became fully applicable across the EU in 2024-2025. Firms with EU operations, partnerships, or client bases should treat such warnings as part of ongoing third-party and counterparty due diligence processes, particularly when assessing crypto-asset or trading platform relationships that claim EU authorization.

Notably, this alert was distributed through Norway's regulatory notification channel despite originating from Greece's HCMC — illustrating the EU/EEA practice of cross-notifying member state regulators about unauthorized entities to protect investors across borders. Compliance teams should verify the ultimate source of such warnings (in this case, Greece) to correctly map jurisdictional risk and avoid misattributing regulatory origin in internal risk registers.

Recommended actions include: (1) adding evrostovaltis-ai.com to internal blocklists/watchlists for client onboarding and transaction monitoring systems; (2) reviewing AML/KYC alerts for any client exposure to this platform; (3) monitoring HCMC and other EU national regulator websites for similar warnings, given the proliferation of unauthorized crypto trading sites; and (4) educating client-facing teams and retail investors about verifying CASP authorization status via national regulator registers. The risk impact is primarily reputational and consumer-protection related, with potential AML exposure if client funds have been routed through this unauthorized platform.

Source: Norway Financial Supervisory Authority