Jai Sahu
Today, the Hong Kong Securities and Futures Commission (SFC) released a cautionary notice, advising investors to stay alert to fake websites pretending to be real virtual asset trading platforms. It highlighted two main culprits: HSKEX, which is falsely claiming to be Hash Blockchain Limited with urls – www.hskexpro.com, www.hskex.com, www.hskexs.com, and www.hskexit.com. Another set, www.oslexu.com and www.oslint.com, is masquerading as OSL Digital Securities Limited.
The SFC pointed out that these fake sites use similar branding and designs as the genuine platforms, which could trick investors into thinking they are dealing with authentic companies.
The alert was issued following complaints about investors facing issues when withdrawing funds from these fake sites, along with demands for excessive “fees and taxes” to release their funds.
Only HashKey and OSL are the authorized crypto exchanges in Hong Kong.
SFC Acts Against Deceptive Websites Mimicking Authorized Exchanges
In response to these issues, the SFC has listed these deceptive websites on their Suspicious Virtual Asset Trading Platforms Alert List as of March 4th, 2024.
They’ve also worked with the Hong Kong Police Force to restrict access to the sites pretending to be Hash Blockchain Limited.
The SFC highlights the critical need for investors to be cautious and perform thorough checks before participating in any virtual asset dealings.
Investors are urged to confirm the authenticity of a trading platform using the SFC’s official Public Register of Licensed Persons and Registered Institutions, along with the list of licensed virtual asset trading platforms.
Furthermore, the SFC advises against making payments or transactions without full verification of the other party’s identity.
Over 22 Applications for Crypto Exchange Licenses in Hong Kong
The Hong Kong SFC has received over 22 license applications from entities wishing to operate crypto exchanges in the area, including names like OKX, Bybit, Bullish, Crypto.com, Huobi HK, Matrixport HK, and Gate.HK.
The application submission window closed on February 29. According to the SFC’s website, crypto platforms in Hong Kong that did not apply for a license must shut down by the month’s end.