Hong Kong regulatory body warns scammer running scam “MEXC” crypto exchange

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The Securities regulatory body of Hong Kong warned citizens to remain away from fake MEXC crypto exchanges. 

MEXC is an averagely popular crypto exchange in the world. This exchange is ranked in 11th position in terms of 24-hour crypto trade volume on this platform. This crypto exchange also provides spot crypto trading for Hong Kong crypto traders in compliance with the local crypto laws of Hong Kong.

On 9 Feb 2024, The Hong Kong Securities and Futures Commission (SFC) and the local police force collaboratively published alert information for all citizens.

The SFC body stated that a scammer was operating nearly 8 websites, looking like MEXC crypto exchange, and diverting people to fake MEXC crypto exchange platforms to deposit bank money & crypto assets. 

People are finding problems when they try to withdraw their funds. So people need to remain aware of such fake & scam websites, to save funds. 

Now the SFC body will investigate & trace the bad actors involved in this illegal activity with the help of local police authorities.

Notably since Sep 2023, the Hong Kong securities regulatory body actively working on a list of suspicious & unregistered crypto firms operating in the jurisdiction of Hong Kong. This list helps citizens to know whether they are trading on legal & registered platforms or not. 

Earlier this week we reported that The SFC body released a notice to all the crypto companies to register their platform with the SFC body via proper application with them and also confirmed that companies are allowed to wind down their crypto operations within the next two months if they are not interested to register as VASP. 

All such efforts by the Hong Kong financial regulatory bodies a proof that they’re doing their best to educate the citizens against bad actors in the crypto sector.

Read also: Bankrupt crypto firm Genesis Global decides to settle $1B lawsuit