Hong Kong SFC issues warning over imposter crypto exchange posing as MEXC
Feb 09. 2024
By Ciaran Lyons
The Hong Kong Securities and Futures Commission (SFC), alongside the local Police force, has issued a warning regarding a fraudulent entity posing as the prominent cryptocurrency exchange MEXC. The imposter is allegedly deceiving potential investors and siphoning funds.
In a recent statement, the Hong Kong SFC emphasized it is collaborating with the Police force in a joint operation as part of its broader efforts to monitor and investigate virtual asset trading providers (VATP) engaging in illicit activities.
Hong Kong Securities and Futures Commission Alert List. Source: Hong Kong SFC
The regulator alleged that the fraudulent entity operating under the name 'MEXC' is tricking investors into depositing funds into its bank account for supposed investments, only to find difficulties when attempting to withdraw the funds later on.
“On these chat groups, victims interested in buying cryptocurrencies were referred to websites operated by MEXC. Victims were then asked to deposit funds into designated bank accounts for investment purposes but after that they reported difficulties with fund withdrawal.”
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