TechFlow reports, according to the Hong Kong Monetary Authority (HKMA) website, members of the public should be wary of BitGinko (also known as Bitcoin Bank) and HongKong BTC Bank, including their websites and social media accounts on X, Facebook, and Instagram. Neither entity has been authorized by the Monetary Authority under the Banking Ordinance to conduct banking or accept deposits in Hong Kong, nor are they approved to establish a local representative office in Hong Kong under the same ordinance.
The HKMA reminds the public that, given the global reach of the internet, individuals should verify the authorization status of any institution offering bank account services or soliciting deposits from the Hong Kong public via online platforms before transferring funds or providing personal information.
