Hong Kong SFC Warns: "Yieldnodes.com masternode pool"

Summary：The Hong Kong Securities and Futures Commission warns: Beware of the suspicious cryptocurrency product named "Yieldnodes.com masternode pool."

The Hong Kong Securities and Futures Commission (hereinafter referred to as "the Commission") issued a warning on February 28, 2024, alerting the public to a suspicious cryptocurrency product named "Yieldnodes.com masternode pool," which involves cryptocurrency-related staking and fundraising arrangements. The product is operated by Exceptional Media Limited.

Product Information

This product has not been approved by the Commission for sale to the public in Hong Kong and is suspected of violating the Securities and Futures Ordinance. The public in Hong Kong can access information about this product through its website (https://yieldnodes.com) and multiple social media accounts managed on Facebook (https://www.facebook.com/official.yieldnodes/), Discord (https://discord.gg/nHCT2xcE/), X (https://twitter.com/YieldnodesOffic/), LinkedIn (https://www.linkedin.com/company/yieldnodes-com/), and Instagram (https://www.instagram.com/yieldnodesofficial/). Reports indicate that some investors have encountered difficulties in retrieving their investments.

Suspicious Cryptocurrency Official Website

Risk Warning

The Commission particularly warns investors to be cautious of "returns" or "staking" arrangements related to virtual assets. Such arrangements may be classified as unapproved collective investment schemes, posing high risks. Investors might not be protected under the Securities and Futures Ordinance and could potentially lose all their investments. Therefore, investors should remain vigilant when making investment decisions.

Legal Provisions

According to the Securities and Futures Ordinance, collective investment schemes not approved by the Commission can generally only be sold to professional investors. Any unlicensed activity or promotion of certain regulated activities may constitute a violation of the law.

Conclusion

The Commission will take appropriate actions against any illegal activities. Investors should pay close attention to related risks and carefully assess and make prudent decisions before participating in any investment scheme.

Previously, on December 13, 2022, in the "Statement on Virtual Asset Arrangements Claiming to Offer Returns to Investors," the Commission reminded investors, especially those involved in virtual asset arrangements, to be aware of the risks that such arrangements might constitute collective investment schemes.

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

Previous Next

Comments

Written byTraderKnows

Created date:2024-02-29 03:55

Last Updated:2024-02-29 06:20

Independent Analysis: Manually researched and fact-checked by the TraderKnows Compliance Team, based on public regulatory records.

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.