The Hong Kong Securities and Futures Commission (SFC) issued a public warning today, urging investors to be cautious of suspicious websites impersonating legitimate virtual asset trading platforms. Specifically, the SFC identified two platforms: HSKEX pretending to be Hash Blockchain Limited, using URLs such as www.hskexpro.com, www.hskex.com, www.hskexs.com, and www.hskexit.com. Additionally, websites www.oslexu.com and www.oslint.com were found impersonating OSL Digital Securities Limited.
These fraudulent websites closely mirror the branding and appearance of licensed platforms, potentially deceiving investors into believing they are interacting with reputable entities. Reports of victims encountering difficulties withdrawing funds from these mimic sites, as well as facing pressure to pay excessive fees and taxes to access their assets, have prompted the SFC’s warning.
Notably, HashKey and OSL are the sole licensed cryptocurrency exchanges operating in Hong Kong. In response to the growing issue, the SFC has taken proactive measures to combat these scams. Following received reports, the commission promptly added both sets of impersonating websites to their Suspicious Virtual Asset Trading Platforms Alert List on March 4th, 2024. Additionally, effective collaboration with the Hong Kong Police Force enabled the blocking of access to websites impersonating Hash Blockchain Limited.
To safeguard investors, the SFC underscores the importance of vigilance and due diligence prior to engaging in virtual asset transactions. Investors are advised to verify a platform’s legitimacy through official channels like the SFC’s Public Register of Licensed Persons and Registered Institutions, and the List of licensed virtual asset trading platforms. Furthermore, the commission advocates for thorough identity verification of counterparties before engaging in any financial transactions.
In another development, the SFC has received over 22 applications for crypto exchange licenses in Hong Kong. Major players such as OKX, Bybit, Bullish, Crypto.com, Huobi HK, Matrixport HK, and Gate.HK have sought the SFC’s approval to operate cryptocurrency exchanges within the region. The application deadline closed on February 29th, and the SFC’s website indicates that crypto platforms in Hong Kong failing to submit license applications would be required to cease operations by the end of the month.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
