Hong Kong Securities and Futures Commission and police warn the public to beware of MEXC’s suspected virtual asset-related fraud

Hong Kong's Securities and Futures Commission and police today warned the public to beware of suspected fraud involving an entity claiming to be a virtual asset trading platform. The entity in question operates under the name "MEXC". MEXC is suspected of luring victims to join chat groups on social media or instant messaging software under the guise of providing free investment advice. Within these chat groups, victims interested in purchasing cryptocurrency were referred to websites operated by MEXC. The victim was asked to deposit funds into a designated bank account for investment purposes, but later reported difficulties in withdrawing funds. The Hong Kong Securities and Futures Commission added MEXC and its website to the warning list of suspicious virtual asset trading platforms on February 9, 2024.