The Hong Kong Securities and Futures Commission warns the public to beware of two questionable cryptocurrency-related products called "Floki Staking Program" and "TokenFi Staking Program". The two products involve cryptocurrency staking services and claim to provide high-level annualized return targets ranging from 30% to more than 100%. These two products are not authorized by the SFC to be offered to the public in Hong Kong, and their managers have not been able to demonstrate to the SFC's satisfaction how these products can achieve high-level annualized return targets.
The Securities and Futures Commission of Hong Kong noted that the Hong Kong public can access the two products and their related information through the Internet. Therefore, the SFC published the two products and their related information on the suspicious investment product warning webpage on January 26, 2024.