Hong Kong Securities and Futures Commission warns users to beware of seven suspected virtual asset fraud entities including XTCQT, CEG, BTEPRO

According to TechFlow, the Hong Kong Securities and Futures Commission (SFC) today warned the public to beware of seven entities suspected of engaging in fraudulent activities related to virtual assets, including XTCQT, CEG, BTEPRO, Bitones.org, Yomaex Crypto Market Limited, Bstor and Taurusemex.

Some entities use social media and instant messaging software to guide investors to register, and suspend accounts on the grounds of money laundering or illegal funds when withdrawing funds, and require high fees. Taurusemex even claims that its accounts are regulated by the CSRC. The police have blocked the relevant websites, but the public should be wary of scams with similar domain names. These entities have been included in the CSRC's warning list of suspicious virtual asset trading platforms. Investors should be wary of "too good to be true" investment opportunities on social media to avoid heavy losses.