7 months ago
Hong Kong’s Securities and Futures Commission (SFC) has warned the nationalist against suspicious websites impersonating the 2 licensed crypto exchanges successful the city-state, according to a Mar. 4 notice.
According to the notice, respective sites impersonating the representation and branding of some Hash Blockchain Limited and OSL Digital Securities Limited are attempting to instrumentality users.
This fraudulent enactment has misled respective investors, who reported it to the regulator. Some users complained astir their inability to retreat funds, portion others were forced to wage precocious fees earlier unlocking their assets.
Due to this, SFC warned investors to behaviour their owed diligence earlier utilizing immoderate crypto exchange, adding that the Hong Kong constabulary person blocked the offending websites.
In addition, the fiscal regulator cautioned that determination mightiness beryllium different deceptive platforms impersonating licensed entities. Hence, investors are powerfully advised to verify the registration presumption of the institutions they prosecute with.
“The SFC erstwhile again reminds the nationalist that online concern scams whitethorn impact immoderate benignant of assets and are perpetrated done aggregate channels, including societal media and instant messaging apps. Investors should enactment vigilant and verify the legitimacy of a virtual plus trading level earlier making immoderate transactions,” it added.
Meanwhile, this is not the archetypal clip Hong Kong authorities person warned astir a website impersonating a crypto platform. In February, the regulator issued a public warning against an entity masquerading arsenic crypto exchange MEXC Global that was luring unsuspecting victims into a crypto concern scam.
Hong Kong’s crypto licensing
Hong Kong has precocious go a destination of prime for crypto exchanges owed to its regulatory clarity and strategical presumption successful the Asian market.
During its caller crypto speech license exertion drive, the SFC received applications from respective large exchanges, including Crypto.com, OKX, HTX, and ByBit, to run legally wrong the region.
The station Hong Kong regulators pass of expanding crypto speech impersonation scams appeared archetypal connected CryptoSlate.
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