Logo

SFC Adds Two Fraudulent Entities to Virtual Asset Alert List

TraderKnows
TraderKnows
05-15

The Hong Kong SFC issued a warning about two companies, LonShiX and Bitbank Global, suspected of virtual asset fraud.

The Securities and Futures Commission (SFC) of Hong Kong has recently issued a warning urging the public to be cautious of two companies involved in suspected virtual asset fraud activities, namely "LonShiX" and "Bitbank (Global) Financial Holding Group."

According to the SFC, "LonShiX" claims to operate in Hong Kong but has published a false address on its website. The company impersonates authorized investment professionals from banks through social media and instant messaging apps, enticing investors to open investment accounts.

On the other hand, "Bitbank (Global) Financial Holding Group" adopts a name strikingly similar to a Japanese cryptocurrency exchange but has no actual connection. The SFC suspects that "Bitbank (Global) Financial Holding Group" disseminates false and misleading information through its website and social media. The company falsely claims to have obtained SFC approval and is in the process of becoming a virtual asset services provider.

These claims are fabricated and may mislead the public into believing that the services and operations of "Bitbank (Global)" are legitimate and officially licensed, potentially leading others to trade on its platform.

In response to this situation, the Hong Kong police have taken measures to block the websites and related accounts of both "LonShiX" and "Bitbank (Global)." As of December 20, 2023, these two entities and their websites have been included in the SFC's list of suspicious virtual asset trading platforms.

SFC可疑虚拟资产交易平台警示名单

The SFC emphasizes once again the need for the public to exercise caution in virtual asset trading. Investors are advised to verify the legitimacy of platforms and ensure that their chosen platforms have obtained approval from relevant regulatory authorities before engaging in any transactions. The SFC will continue to strengthen its regulatory efforts in the virtual asset market to safeguard the rights of investors.

SKYPE 图

公众号4

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End

Wiki

Contract for Difference (CFD)

Contract for Difference (CFD) refers to a financial derivative in which investors and counterparties engage in speculative or hedging transactions by exchanging the price difference of a commodity. Importantly, this occurs without the need to physically own or trade the underlying asset.

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.

Logo

Contact Us

Social Media

footer1