Hong Kong SFC has issued a warning about a fake crypto exchange imitating Bitcoin exchange MEXC. The SFC identified eight websites linked to the fraudulent organization that included the name of the exchange in their names.
Hong Kong SFC warns about Bitcoin exchange MEXC imitators!
The Hong Kong Securities and Futures Commission (SFC) conducted an investigation together with local police. Following the studies, SEF warned about an organization pretending to be the Bitcoin exchange MEXC. SFC alleged that the fraudster duped potential investors and siphoned off funds. In a recent statement, the SFC emphasized that it was cooperating with the police in a joint operation as part of its wider efforts to monitor and investigate virtual asset trading providers (VATPs) engaging in illegal activities.
The regulatory body has been tracking the fraudulent organization operating under the name MEXC. The SFC stated that this organization deceived investors into depositing money into the bank account for so-called investments. However, he later claimed that they faced difficulties while trying to withdraw the funds. In this context, SFC made the following statement:
In these chat groups, victims interested in purchasing cryptocurrencies were directed to websites operated by MEXC. The victims were then asked to deposit money into designated bank accounts for investment purposes. However, they later reported that they were experiencing difficulties in withdrawing funds.
SFEC detects websites containing MEXC phrases
Additionally, SFC identified eight websites suspected to be associated with the fraudulent organization. All of these websites contain MEXC expressions such as “mexczx.icu” and “mexczx.co” in their domain names. “The public should pay attention to websites with MEXC-like domain names that can be created constantly,” the statement said. In September 2023, the SFC said it would publish a list of VATPs that are licensed, deemed licensed, closed and pending applications to help the public identify potentially unregulated VATPs in Hong Kong.
This comes amid increased scrutiny over the implementation decisions made by the actual MEXC exchange recently. cryptokoin.comAs you follow from, in December 2023, Bitcoin exchange MEXC froze the accounts of several traders. Moreover, he later confiscated his funds. The exchange claims these actions were due to “abnormal trading activity.” A trader with the pseudonym Vida even claimed to have lost 92,000 USDT tokens after 15 days of profits from multiple new transactions on MEXC’s futures market.
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