SFC Issues Warning About Fraudulent Trading Platform Impersonating MEXC
The Hong Kong Securities and Futures Commission (SFC) has issued an alert regarding a suspected fraudulent platform that is impersonating the popular cryptocurrency exchange MEXC. In collaboration with the local police force, the SFC conducted an investigation to uncover illicit activities of virtual asset trading platforms (VATPs).
SFC Warns Hong Kong Citizens About Fraudulent Trading Platform
The SFC has warned crypto enthusiasts and investors in Hong Kong about a suspicious trading platform operating under the name “MEXC.” Through joint investigations with the local police, the regulator discovered that this platform had lured investors into group chats promising “free investment advice.”
Using these group chats, the platform directed unsuspecting investors to deposit funds through fraudulent websites in order to purchase cryptocurrencies. However, after making investments, customers were unable to withdraw their funds.
The SFC has now listed “MEXC” as one of its “Suspicious virtual asset platforms,” warning investors of its fraudulent activities.
MEXC Denounces Imposter and Clears Its Name
In response to the SFC’s announcement, MEXC, a prominent cryptocurrency exchange, has declared that the investigated trading platform is a counterfeit with no connection to its official operations. MEXC has advised users to avoid interacting with fraudulent platforms and has emphasized that its only official website is mexc.com.
MEXC is a well-known global crypto trading platform with over 10 million users in 170 countries. However, it has recently faced controversies, including allegations of fabricating its order book and locking investors out of their accounts.
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