TechFlow reports that the Hong Kong Securities and Futures Commission (SFC) has issued a warning advising the public to be cautious of two entities, "LonShiX" and "Bitbank (Global) Financial Holding Group," suspected of virtual asset fraud.
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LonShiX fabricated a Hong Kong address and used social media to mislead investors into opening accounts.
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Bitbank claimed to have obtained an SFC license and applied for a virtual asset service provider license, but the SFC suspects it of disseminating false information.
The SFC has blocked the websites of both companies and reminded investors to stay vigilant against fraudulent investment information.
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