Hong Kong SFC requires Futu to freeze client assets involved in IPO fraud, totaling over HK$125 million.
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Hong Kong SFC requires Futu to freeze client assets involved in IPO fraud, totaling over HK$125 million.
According to the announcement by the Securities and Futures Commission of Hong Kong (SFC), the SFC issued a Restriction Notice to Futu Securities International (Hong Kong) Ltd. on July 30, 2026, prohibiting it from disposing of assets within a client account of a certain entity, with a maximum frozen amount of HK$125,247,000. The entity is suspected of involvement in a fraud scheme aimed at creating a false appearance of demand for IPO shares. The SFC emphasized that Futu is not the target of the investigation, and the Restriction Notice does not affect other clients. The investigation is currently ongoing.
Navigating Web3 tides with focused insightsTechFlow news, July 30, according to the announcement by the Securities and Futures Commission of Hong Kong (SFC), the SFC issued a restriction notice to Futu Securities International (Hong Kong) Limited on July 30, 2026, prohibiting it from disposing of assets in a certain entity client's account, with a maximum frozen amount of HKD 125,247,000. The entity is suspected of participating in a fraud scheme aimed at creating a false appearance of demand for IPO shares. The SFC emphasized that Futu is not the subject of the investigation, and the restriction notice does not affect other clients. The investigation is currently ongoing.
