TechFlow reports that the Hong Kong Securities and Futures Commission (SFC) has warned the public to beware of several entities operating under the name "HKCEXP" suspected of engaging in virtual asset-related fraud. Victims reported difficulties when attempting to withdraw funds and were required to pay substantial "taxes."
HKCEXP provides a false Hong Kong address on its website to mislead investors. The SFC suspects HKCEXP falsely claimed to be a "company registered with the SFC" and disseminated false and misleading information about itself and its business operations.
On March 25, 2024, the SFC added HKCEXP and its related websites to the Alert List of Suspicious Virtual Asset Trading Platforms.
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