Hong Kong Securities and Futures Commission adds BitForex and its website to the warning list of suspicious virtual asset trading platforms

The Securities and Futures Commission of Hong Kong today warned the public to be wary of a promotional virtual asset trading platform operating under the name BitForex, which is suspected of virtual asset fraud. BitForex is not licensed by the SFC, nor has it applied for a license from the SFC to operate a virtual asset trading platform in Hong Kong. The Hong Kong Securities and Futures Commission noted that the platform used wallet and website maintenance as an excuse to make it increasingly difficult for victims to withdraw assets from the platform in the past few days. The victims said that BitForex’s website has now been closed, preventing them from checking their accounts and withdrawing assets held in BitForex. Currently, the Hong Kong Securities and Futures Commission has included BitForex and its website on the warning list of suspicious virtual asset trading platforms.