Hong Kong Securities Regulator Warns Against Unlicensed Crypto Platform

According to PANews, the Hong Kong Securities and Futures Commission (SFC) has issued a warning to the public regarding an unlicensed virtual asset trading platform known as International Standard Carbon Asset Technology Company, also referred to as "iSCAT" or "iSCAT Exchange." This platform, which previously operated in Hong Kong, claims to offer cryptocurrency trading services and has been promoting its services through social media to attract investors to its website and mobile application. On January 10, 2025, the SFC added "iSCAT" and/or "iSCAT Exchange" along with its associated websites to its list of suspicious virtual asset trading platforms. The SFC has reiterated its warning to investors about the risks of trading on unregulated virtual asset platforms. Investors may face the risk of losing their entire investment if such platforms cease operations, face hacking incidents, or experience any asset misappropriation.