Hong Kong Securities and Futures Commission Warns of Crypto Fraud
The Hong Kong Securities and Futures Commission (SFC) has issued a warning to the public regarding two entities suspected of being involved in cryptocurrency scams. The entities in question are Hong Kong Digital Research Institute, also known as Hong Kong DAO, and Bitcuped.
In response to the SFC’s request, the Hong Kong Police Force has taken action to block access to the websites of Hong Kong DAO and Bitcuped. The SFC has also sent cease and desist letters to website operators, urging them to stop offering a token issued by Hong Kong DAO for purchase.
The SFC believes that Hong Kong DAO has been spreading false and misleading information about its business through online platforms. Meanwhile, Bitcuped has made deceptive claims, including falsely stating that Laura Cha and Nicolas Aguzin are associated with the company as chairman and CEO.
Caution against Investment Scams
The financial regulator in Hong Kong has cautioned investors about the risks of online investment scams. They emphasize that these scams can involve various types of assets and are promoted through multiple channels, including social media and instant messaging apps.
It is important for the public to be skeptical of investment opportunities that seem too good to be true and to be wary of advice from individuals who are not investment professionals. The SFC advises everyone to stay vigilant and exercise caution before making any investment decisions, in order to avoid falling prey to fraud.
Hot Take: SFC Warns Public of Crypto Scams in Hong Kong
Hong Kong’s financial regulator, the SFC, has issued a warning to the public about two suspected crypto fraud entities. By taking action against the websites associated with Hong Kong DAO and Bitcuped and urging operators to cease offering tokens for purchase, the SFC aims to protect investors from potential scams. It is crucial for individuals to exercise caution when considering investment opportunities and to be skeptical of claims made on social media and messaging apps. The SFC’s advice to stay vigilant and be aware of potential fraud is a reminder that due diligence is essential in the cryptocurrency market.
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