Hong Kong’s financial regulator has issued a warning
to the public regarding an unlicensed virtual asset trading platform that is
suspected of marketing services to investors without proper authorization. The Securities and Futures Commission (SFC) cautioned
investors against trading on Sure X, highlighting the risks of potential losses
due to platform failure, hacking, or misappropriation of assets.
Sure X is a virtual asset trading platform operating
under various names, such as “Sure Bit International Pte Ltd” or “Sure Bit
International Ltd”. The I-SFC warned that investors might still find ways to
access Sure X’s websites and indawo yokuhweba despite appearing to be
okungafinyeleleki.
The SFC wrote: “While Sure X’s platform websites
appear to be inaccessible, the SFC notes that Hong Kong investors, through
other means via the internet, may still be able to access the websites and/or
the purported trading platform and register as new users.”
Umthombo: SFC
Ngenyanga edlule, i-SFC ukuphakamisa ukukhathazeka over two other cryptocurrency trading platforms, HKCEXP and EDY, due to suspicions of
imisebenzi yokukhwabanisa.
Ngokusho kombiko by Izibalo Zezimali, the SFC’s
investigations revealed that EDY falsely claims affiliation with a Hong Kong
financial institution and a digital token system. Moreover, investors
reported difficulties withdrawing funds from the platform, indicating potential
malpractice.
Similarly, HKCEXP operates with a fake Hong Kong
address and falsely presents itself as an “SFC-registered company.”
Thus, the securities watchdog warned investors against paying hefty fees to the platform under
the pretext of facilitating withdrawals.
I-Hong Kong Iqinisa Imithetho Ye-Crypto
Additionally, the SFC warned about Bybit, a
cryptocurrency exchange purportedly operating without the necessary licensing in Hong Kong.
The regulator mentioned that Bybit’s suspected unauthorized products, including
futures contracts and leveraged tokens, pose significant financial risks to
abatshalizimali.
Ngemuva kwe- ihlazo elibandakanya i-JPEX, lo
SFC is taking decisive action to safeguard investors. The regulator has rolled out a
comprehensive set of measures aimed at enhancing transparency, bolstering
public awareness, and tightening regulations surrounding crypto trading
amapulatifomu.
Hong Kong’s foray into retail cryptocurrency trading
in June 2023 brought with it a surge in opportunities for investors. However,
it also exposed vulnerabilities in the regulatory framework, particularly
regarding unlicensed trading platforms.
To address this, the SFC published a detailed
list of licensed Virtual Asset Trading Platforms on its website.
Additionally, the watchdog is conducting a public awareness campaign to educate
individuals about protecting themselves from potential fraud.
Hong Kong’s financial regulator has issued a warning
to the public regarding an unlicensed virtual asset trading platform that is
suspected of marketing services to investors without proper authorization. The Securities and Futures Commission (SFC) cautioned
investors against trading on Sure X, highlighting the risks of potential losses
due to platform failure, hacking, or misappropriation of assets.
Sure X is a virtual asset trading platform operating
under various names, such as “Sure Bit International Pte Ltd” or “Sure Bit
International Ltd”. The I-SFC warned that investors might still find ways to
access Sure X’s websites and indawo yokuhweba despite appearing to be
okungafinyeleleki.
The SFC wrote: “While Sure X’s platform websites
appear to be inaccessible, the SFC notes that Hong Kong investors, through
other means via the internet, may still be able to access the websites and/or
the purported trading platform and register as new users.”
Umthombo: SFC
Ngenyanga edlule, i-SFC ukuphakamisa ukukhathazeka over two other cryptocurrency trading platforms, HKCEXP and EDY, due to suspicions of
imisebenzi yokukhwabanisa.
Ngokusho kombiko by Izibalo Zezimali, the SFC’s
investigations revealed that EDY falsely claims affiliation with a Hong Kong
financial institution and a digital token system. Moreover, investors
reported difficulties withdrawing funds from the platform, indicating potential
malpractice.
Similarly, HKCEXP operates with a fake Hong Kong
address and falsely presents itself as an “SFC-registered company.”
Thus, the securities watchdog warned investors against paying hefty fees to the platform under
the pretext of facilitating withdrawals.
I-Hong Kong Iqinisa Imithetho Ye-Crypto
Additionally, the SFC warned about Bybit, a
cryptocurrency exchange purportedly operating without the necessary licensing in Hong Kong.
The regulator mentioned that Bybit’s suspected unauthorized products, including
futures contracts and leveraged tokens, pose significant financial risks to
abatshalizimali.
Ngemuva kwe- ihlazo elibandakanya i-JPEX, lo
SFC is taking decisive action to safeguard investors. The regulator has rolled out a
comprehensive set of measures aimed at enhancing transparency, bolstering
public awareness, and tightening regulations surrounding crypto trading
amapulatifomu.
Hong Kong’s foray into retail cryptocurrency trading
in June 2023 brought with it a surge in opportunities for investors. However,
it also exposed vulnerabilities in the regulatory framework, particularly
regarding unlicensed trading platforms.
To address this, the SFC published a detailed
list of licensed Virtual Asset Trading Platforms on its website.
Additionally, the watchdog is conducting a public awareness campaign to educate
individuals about protecting themselves from potential fraud.
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- Source: https://www.financemagnates.com//cryptocurrency/hong-kong-flags-unlicensed-crypto-exchange-sure-x/
