Monday, August 25, 2025
No Result
View All Result
Coin Digest Daily
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations
No Result
View All Result
Coin Digest Daily
No Result
View All Result

SFC Sounds Alarm on 3 Unlicensed VATPs in Hong Kong

29 June 2024
in Crypto Updates
Reading Time: 2 mins read
0 0
A A
0
Home Crypto Updates
Share on FacebookShare on Twitter


The Securities and Futures Fee (SFC) issued a warning
immediately (Friday) about a number of entities suspected of partaking in fraudulent digital
asset-related actions. These entities are additionally purportedly working digital
asset buying and selling platforms (VATPs) in Hong Kong with out the required licenses.

SFC Flags Fraudulent Platforms

Below the Anti-Cash Laundering and Counter-Terrorist
Financing Ordinance, any provision or energetic advertising of digital asset
companies to Hong Kong buyers with out a licence is strictly prohibited. The
entities recognized on this regard are:

Tokencan: This platform claims to offer cryptocurrency
buying and selling companies in Hong Kong with out a licence. Tokencan makes use of social media to
direct buyers to its web sites for cryptocurrency investments. The SFC famous
that Tokencan offered false data, falsely claimed to have filed a
licence utility with the SFC, and has had investor stories of frozen
accounts and withdrawal points.

VBIT Trade: This entity is suspected of selling its
purported VATP companies to Hong Kong buyers with out a licence. It falsely
claimed to be regulated by authorities in numerous jurisdictions on its web site.

HKD.com Company: This entity makes use of a reputation and emblem very
just like one other VATP it isn’t related to. Buyers had been requested to
deposit funds into designated financial institution accounts for funding functions.
Subsequently, buyers reported difficulties in withdrawing funds.

Confirm VATP Licensing Standing

In response to the SFC’s request, the Hong Kong Police have
taken steps to dam entry to the related web sites and social media pages.
Nevertheless, the general public ought to stay cautious as scammers might proceed to create
web sites with related domains.

On-line funding scams can contain any sort of asset and
are sometimes performed via numerous channels, resulting in important losses for
buyers. The SFC advises the general public to remain vigilant and pay attention to
potential fraud when making funding choices.

“Buyers might danger shedding their total funding held on
the platform if it ceases operation, collapses, is hacked or in any other case suffers
from any misappropriation of belongings. If unsure concerning the licensing standing of
a VATP, please check with the SFC’s Record of licensed digital asset buying and selling
platforms,” the authority said.

This text was written by Tareq Sikder at www.financemagnates.com.



Source link

Tags: alarmHongKongSFCSoundsUnlicensedVATPs
Previous Post

Can FriendTech Survive in Today’s Social Media Landscape?

Next Post

John E. Deaton Criticized US Government’s Bitcoin Transaction To Coinbase Here’s Why | Bitcoinist.com

Related Posts

BlockDAG’s Presale Path to $1 Target as Solana and Ripple Navigate Markets
Crypto Updates

BlockDAG’s Presale Path to $1 Target as Solana and Ripple Navigate Markets

24 August 2025
Solana Eyes $360 After Breaking $200 – Here’s Why $SNORT Could Deliver Bigger Gains
Crypto Updates

Solana Eyes $360 After Breaking $200 – Here’s Why $SNORT Could Deliver Bigger Gains

24 August 2025
What Is a Crypto Sniper? Inside the High-Speed Traders Dominating Meme Coin Launches – Learning – Insights Bitcoin News
Crypto Updates

What Is a Crypto Sniper? Inside the High-Speed Traders Dominating Meme Coin Launches – Learning – Insights Bitcoin News

24 August 2025
IRS Loses Top Crypto Enforcer After Only 90 Days on the Job
Crypto Updates

IRS Loses Top Crypto Enforcer After Only 90 Days on the Job

23 August 2025
Circle Joins Binance-Led Travel Rule Network, Expands Compliance to 100+ VASPs
Crypto Updates

Circle Joins Binance-Led Travel Rule Network, Expands Compliance to 100+ VASPs

24 August 2025
Federal Judge Unfreezes $58M in Libra-Linked Funds – Legal Bitcoin News
Crypto Updates

Federal Judge Unfreezes $58M in Libra-Linked Funds – Legal Bitcoin News

23 August 2025
Next Post
John E. Deaton Criticized US Government’s Bitcoin Transaction To Coinbase Here’s Why | Bitcoinist.com

John E. Deaton Criticized US Government's Bitcoin Transaction To Coinbase Here's Why | Bitcoinist.com

Web3 Gaming’s Next Big Thing: Mass Ownership Explained

Web3 Gaming’s Next Big Thing: Mass Ownership Explained

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims – CoinJournal

FTT jumps 7% as Backpack launches platform to help FTX victims liquidate claims – CoinJournal

19 July 2025
PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility – CoinJournal

PENDLE token goes live on BeraChain and HyperEVM to expand cross-chain utility – CoinJournal

30 July 2025
A Russian Hacking Group Is Using Fake Versions of MetaMask to Steal $1M in Crypto – Decrypt

A Russian Hacking Group Is Using Fake Versions of MetaMask to Steal $1M in Crypto – Decrypt

10 August 2025
Ethereum Reclaims $4,600 With Unprecedented $1 Billion In Spot ETF Inflow

Ethereum Reclaims $4,600 With Unprecedented $1 Billion In Spot ETF Inflow

13 August 2025
XRP Price Blasts Higher by 10%, Bulls Eye Even Bigger Gains

XRP Price Blasts Higher by 10%, Bulls Eye Even Bigger Gains

8 August 2025
PEPE Gears Up For 120% Move As Indicators Point To An End Of Decline | Bitcoinist.com

PEPE Gears Up For 120% Move As Indicators Point To An End Of Decline | Bitcoinist.com

8 August 2025
Hacker Moves Loot: Over 38,000 Solana Purchased With Stolen Crypto

Hacker Moves Loot: Over 38,000 Solana Purchased With Stolen Crypto

25 August 2025
Ether Soars In August—But Will September Spoil The Party?

Ether Soars In August—But Will September Spoil The Party?

24 August 2025
BlockDAG’s Presale Path to $1 Target as Solana and Ripple Navigate Markets

BlockDAG’s Presale Path to $1 Target as Solana and Ripple Navigate Markets

24 August 2025
Solana Eyes $360 After Breaking $200 – Here’s Why $SNORT Could Deliver Bigger Gains

Solana Eyes $360 After Breaking $200 – Here’s Why $SNORT Could Deliver Bigger Gains

24 August 2025
Wall Street’s Crypto Titans: Billions in Bitcoin and Ethereum Stashed Away – Crypto News Bitcoin News

Wall Street’s Crypto Titans: Billions in Bitcoin and Ethereum Stashed Away – Crypto News Bitcoin News

24 August 2025
Why Luca Netz Will Be ‘Disappointed’ If Pudgy Penguins Doesn’t IPO Within 2 Years – Decrypt

Why Luca Netz Will Be ‘Disappointed’ If Pudgy Penguins Doesn’t IPO Within 2 Years – Decrypt

24 August 2025
Facebook Twitter Instagram Youtube RSS
Coin Digest Daily

Stay ahead in the world of cryptocurrencies with Coin Digest Daily. Your daily dose of insightful news, market trends, and expert analyses. Empowering you to make informed decisions in the ever-evolving blockchain space.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Web3

SITEMAP

  • About us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • General
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • Metaverse
  • Web3
  • DeFi
  • Analysis
  • Scam Alert
  • Regulations

Copyright © 2024 Coin Digest Daily.
Coin Digest Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$113,385.00-1.62%
  • ethereumEthereum(ETH)$4,769.610.05%
  • rippleXRP(XRP)$3.03-0.35%
  • tetherTether(USDT)$1.000.02%
  • binancecoinBNB(BNB)$876.39-0.53%
  • solanaSolana(SOL)$204.460.52%
  • usd-coinUSDC(USDC)$1.000.00%
  • staked-etherLido Staked Ether(STETH)$4,757.090.14%
  • dogecoinDogecoin(DOGE)$0.230857-2.01%
  • tronTRON(TRX)$0.361866-0.13%