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Hong Kong Securities and Futures Commission (SFC) has issued a warning to the public about potential virtual asset-related frauds involving “HongKongDAO” and “BitCuped.”
Collaborating with the Hong Kong Police Force, the SFC has taken decisive action to block access to the websites associated with HongKongDAO and BitCuped, signaling a proactive stance against suspected fraudulent activities.
HongKongDAO, a particular focus of the warning, has introduced a token named “HKD” or “HongKongDAO” (HKD Token) available for purchase on its platform.
HongKongDAO Falsely Claims to Hold Exchange License.
However, the SFC suspects that HongKongDAO may be disseminating false and misleading information through online channels.
An online article affiliated with HongKongDAO falsely claims that the entity holds licenses from the SFC for regulated activities and is actively bidding for a “Hong Kong Digital Currency Exchange Licence.”
These deceptive claims could mislead individuals into acquiring or subscribing to the HKD Token, posing significant risks to unsuspecting investors.
The SFC has highlighted discrepancies related to another crypto platform as well – BitCuped. The entity, according to the SFC, falsely represents “Laura Cha” as its Chairman and “Nicolas Aguzin” as its Chief Executive Officer. However, neither individual has any affiliations with BitCuped.
SFC Urges Public to be Cautious.
The commission urges the public to exercise caution when encountering investment opportunities and advice on social media platforms and instant messaging apps.
This cautionary note comes amid a global push by regulatory bodies to safeguard investors from the increasing threats within the cryptocurrency and virtual asset space.
The SFC reiterates the importance of vigilance and prudence, particularly when making investment decisions, in order to mitigate the risks associated with potential fraudulent schemes. Investors are advised to conduct thorough due diligence and verify the legitimacy of entities before engaging in any financial transactions.
Earlier, Hong Kong witnessed a massive crypto fraud when law enforcement agencies discovered the JPEX scandal that ballooned up to $200 million.
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***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple
Hong Kong Securities and Futures Commission (SFC) has issued a warning to the public about potential virtual asset-related frauds involving “HongKongDAO” and “BitCuped.”
Collaborating with the Hong Kong Police Force, the SFC has taken decisive action to block access to the websites associated with HongKongDAO and BitCuped, signaling a proactive stance against suspected fraudulent activities.
HongKongDAO, a particular focus of the warning, has introduced a token named “HKD” or “HongKongDAO” (HKD Token) available for purchase on its platform.
HongKongDAO Falsely Claims to Hold Exchange License.
However, the SFC suspects that HongKongDAO may be disseminating false and misleading information through online channels.
An online article affiliated with HongKongDAO falsely claims that the entity holds licenses from the SFC for regulated activities and is actively bidding for a “Hong Kong Digital Currency Exchange Licence.”
These deceptive claims could mislead individuals into acquiring or subscribing to the HKD Token, posing significant risks to unsuspecting investors.
The SFC has highlighted discrepancies related to another crypto platform as well – BitCuped. The entity, according to the SFC, falsely represents “Laura Cha” as its Chairman and “Nicolas Aguzin” as its Chief Executive Officer. However, neither individual has any affiliations with BitCuped.
SFC Urges Public to be Cautious.
The commission urges the public to exercise caution when encountering investment opportunities and advice on social media platforms and instant messaging apps.
This cautionary note comes amid a global push by regulatory bodies to safeguard investors from the increasing threats within the cryptocurrency and virtual asset space.
The SFC reiterates the importance of vigilance and prudence, particularly when making investment decisions, in order to mitigate the risks associated with potential fraudulent schemes. Investors are advised to conduct thorough due diligence and verify the legitimacy of entities before engaging in any financial transactions.
Earlier, Hong Kong witnessed a massive crypto fraud when law enforcement agencies discovered the JPEX scandal that ballooned up to $200 million.
Enter your email for our Free Daily Newsletter
A quick 3min read about today's crypto news!
Sign Up
img src="https://cimg.co/p/ml-300.jpeg" alt="Image" class="img" id="newsletter-popup-img"
https://cryptonews.com/news/hong-kong-sfc-warns-of-suspected-crypto-frauds.htm
#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptoworlddaily #cryptoscam #cryptoscamnews #cryptoscamnewstoday #hongkong #hongkongnews #hongkongnewstoday #sfc #sfcnews #crypto
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!
This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.
bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple
