Felix Markets operates as a fraudulent forex broker platform that deceptively claims to be regulated by presenting fabricated regulatory information. The threat actors behind Felix Markets employ impersonation techniques, including the use of a fake financial authority that is linked to other known investment scams. They bolster their facade of legitimacy through high-profile sports sponsorship, notably becoming the official sponsor of Levante U.D., a Spanish football club, for the 2025-26 season. This sponsorship is a strategic move to launder reputation and gain trust from potential investors by associating with a reputable sports entity. The platform also repackages genuine legal materials and falsely asserts geographic relevance to Australia, the UK, and Comoros, further complicating detection. Technical indicators such as hosting details and document metadata suggest possible Turkish involvement in the operation. The scam exploits the identity of a legitimately registered Australian company to add credibility. This campaign highlights evolving tactics in regulatory fraud and reputation laundering, where threat actors combine social engineering, impersonation, and marketing strategies to deceive victims. While no direct software vulnerabilities or exploits are involved, the threat poses significant financial risk through investment fraud and undermines trust in legitimate financial markets. The campaign is tracked under multiple MITRE ATT&CK techniques related to impersonation, reputation laundering, and regulatory fraud. No known exploits in the wild or CVSS scores exist for this threat, as it is primarily a social engineering and fraud campaign rather than a technical exploit.

European organizations, particularly financial institutions, investors, and regulatory bodies, face risks from Felix Markets' fraudulent activities. The platform's false claims of regulation and legitimacy can mislead investors into committing funds to a scam, resulting in financial losses and reputational damage. Financial institutions may also face increased compliance burdens and challenges in distinguishing legitimate brokers from fraudulent ones. The use of sports sponsorship to launder reputation can erode public trust in sponsorships and complicate due diligence processes for organizations involved in sports marketing and partnerships. Spain is especially impacted due to the direct sponsorship of Levante U.D., potentially exposing Spanish investors and sports entities to reputational and financial risks. The broader European financial market may experience indirect effects through increased skepticism and regulatory scrutiny. Additionally, the campaign's cross-border nature, involving Australia, the UK, Comoros, and Turkey, complicates enforcement and regulatory responses. The medium severity reflects the significant financial and reputational impact but limited direct technical exploitation or system compromise.

European organizations should implement enhanced due diligence processes when engaging with financial brokers and investment platforms, verifying regulatory credentials through official financial authorities rather than relying on self-reported claims. Regulatory bodies should increase monitoring of sports sponsorships linked to financial entities, requiring transparency and verification of sponsors’ legitimacy. Financial institutions and investors should be educated about the risks of investment scams employing reputation laundering and impersonation tactics. Collaboration between European regulators, law enforcement, and sports organizations is critical to identify and disrupt such fraudulent sponsorship arrangements. Organizations should monitor domain registrations and hosting metadata for suspicious patterns, especially those linked to known scam infrastructure. Public awareness campaigns in Spain and other affected countries can help reduce victimization. Legal and compliance teams should scrutinize marketing materials and sponsorship claims for authenticity. Finally, sharing threat intelligence on such campaigns across European cybersecurity and financial communities will improve detection and response.