Crypto scam cases in Hong Kong rose by 170% in a year, prompting the Securities and Futures Commission to demand licensing applications from exchanges like OKX and Bybit to combat fraud and secure investor trust. As regulatory pressure mounts, the approval of reputable exchanges is crucial for Hong Kong's crypto market to thrive and establish itself as a trusted digital asset hub.
Weatherly
JinseFinanceJinseFinanceRecently, the Hong Kong police discovered a company named "HOUNAX" suspected of fraud. It lured investors with high returns through a virtual asset trading platform, ultimately leaving investors unable to retrieve both their principal and profits.
OliveIn a move to combat telephone fraud, a law enforcement agency recently executed an operation that led to the apprehension of two individuals, aged 20 and 33. The arrests took place in a public facility, and the suspects are currently under investigation for their involvement in a series of fraudulent activities.
JoyHong Kong police has issued an advisory to the public regarding a growing threat posed by scammers masquerading as representatives of Binance and disseminating deceptive messages.
KikyoBitrace has raised a red flag regarding potential rugpull activities associated with JPEX. These allegations come on the heels of existing charges implicating the exchange in a money laundering scheme.
Kikyo
Coinlive Coinlive The Hong Kong government issued a policy declaration on the development of virtual assets in Hong Kong, which triggered extensive discussions among Web3.0 professionals.
Cointelegraph