The Hong Kong Securities and Futures Commission (SFC) has issued a warning against the virtual asset trading platform Linkbex as the agency cited fraudulent activities as reported by PANews. According to the announcement on March 6, 2025, Linkbex falsely claimed affiliations with seven licensed companies in Hong Kong.
Additionally, many of the investors reported that their accounts were locked under the excuse of an “anti-money laundering investigation” which was allegedly being conducted by the SFC.
Regulatory Action Taken by Hong Kong SFC
As soon as such this instances reached the Hong Kong SFC, the agency took a swift action and added Linkbex to its warning list of suspicious virtual asset trading platforms. Moreover, at SFC’s request, the Hong Kong police have blocked access to Linkbex’s related websites to prevent further harm to investors.
Risks of Unregulated Platforms
The Hong Kong agency has also emphasized that such unregulated platforms, Linkbex included, pose a significant amount of threat to the investors. Potential fraud, loss of funds due to platform closure or hacking incidents, and lack of legal resource for affected users.
The regulatory agency also urged investors to exercise caution and verify the licensing status of any virtual asset platform before engaging in transactions. The SFC maintains an official list of licensed platforms on its website for the public to refer.
Ongoing Challenges in the Virtual Asset Market
With situation we can see that with the sector rapidly expanding and flourishing, fraudulent activities have increased. The agencies on the other hand, try their best to fight such activities and protect market integrity.
The warning against Linkbex serves as a critical reminder for investors to remain vigilant and informed when navigating the digital asset space. By avoiding unregulated platforms and conducting through deep analysis and research, investors can better safeguard their funds from potential scams.
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