TechFlow reports that the Hong Kong Securities and Futures Commission (SFC) today warned the public to beware of seven entities suspected of engaging in virtual asset-related fraudulent activities, including XTCQT, CEG, BTEPRO, Bitones.org, Yomaex Crypto Market Limited, Bstor, and Taurusemex.
Some of these entities use social media and instant messaging apps to lure investors into registration, then freeze accounts when withdrawals are requested—alleging money laundering or illicit funds—and demand high fees to release them. Taurusemex even claimed its accounts were regulated by the SFC. The police have already blocked related websites, but the public is urged to remain vigilant against scams using similar domains. These entities have been added to the SFC's alert list for suspicious virtual asset trading platforms. Investors should be cautious of "too good to be true" investment opportunities on social media to avoid significant financial losses.
