Hong Kong SFC Warns of Websites Impersonating Regulated Crypto Exchanges
Hong Kong SFC Warns of Web sites Impersonating Regulated Crypto Exchanges
The Hong Kong Securities and Futures Commission (SFC) issued a public warning nowadays, urging investors to be cautious of suspicious websites impersonating legitimate digital asset procuring and selling platforms. Two explicit platforms dangle been known: HSKEX, impersonating Hash Blockchain Small, working these urls – www.hskexpro.com, www.hskex.com, www.hskexs.com and www.hskexit.com. www.oslexu.com and www.oslint.com dangle been found impersonating OSL Digital Securities Small.
Essentially primarily primarily based on the SFC, these websites mimic the branding and appearance of the licensed platforms, potentially misleading investors into believing they are interacting with legitimate entities.
The warning comes after reports of victims experiencing difficulties withdrawing funds from these impersonating websites, and being forced to pay indecent “costs and taxes” to release their resources.
HashKey and OSL are the handiest two licensed crypto exchanges working in Hong Kong.
SFC Seeks to Block False Web sites Impersonating Regulated Exchanges
The SFC has taken action to combat these faux activities. Following reports received, the commission added both models of impersonating websites to their Suspicious Digital Asset Buying and selling Platforms Alert Checklist on March 4th, 2024.
Additionally, they’ve requested and efficiently collaborated with the Hong Kong Police Power to dam entry to the websites impersonating Hash Blockchain Small.
The SFC emphasised the importance of investor vigilance and due diligence earlier than partaking in any digital asset transactions.
The commission encourages investors to verify the legitimacy of a platform by strategy of reliable channels, such because the SFC’s Public Register of Licensed Persons and Registered Establishments, and the Checklist of licensed digital asset procuring and selling platforms.
Additionally, they describe investors to help away from sending money or partaking in transactions earlier than completely verifying the counterparty’s identification.
Hong Kong Receives Over 22 Crypto Trade License Applications
Hong Kong SFC has received over 22 capabilities looking out for a license to feature a crypto alternate in the plan. OKX, Bybit, Bullish, Crypto.com, Huobi HK, Matrixport HK and Gate.HK are one of the most critical applicants looking out for SFC’s acclaim for working a crypto alternate.
The deadline to submit the license utility ended on 29 Feb. As per the SFC web living, crypto platforms working in Hong Kong that failed to submit license capabilities will must stop alternate by the tip of the month.
Source : cryptonews.com
