TechFlow reports that the Hong Kong Securities and Futures Commission (SFC) today warned the public to beware of a virtual asset trading platform operating under the name BitForex, which is suspected of engaging in virtual asset fraud.
BitForex is neither licensed nor has applied for a license from the SFC to operate a virtual asset trading platform in Hong Kong. The SFC notes that the platform has used excuses such as wallet and website maintenance to make it increasingly difficult for victims to withdraw their assets over the past few days.
Victims report that the BitForex website is now shut down, preventing them from accessing their accounts or withdrawing assets held on BitForex. The SFC has now added BitForex and its website to its list of suspicious virtual asset trading platforms.
