Hong Kong Regulators Block Entry to BitCuped and HongKongDAO, Warns of Fraud
The Securities and Futures Fee (SFC) of Hong Kong has issued a warning concerning suspected fraudulent actions.
The Securities and Futures Fee (SFC) of Hong Kong has issued a warning concerning suspected fraudulent actions related to crypto entities Hong Kong Digital Analysis Institute (also called HongKongDAO) and BitCuped.
In line with the SFC discover, there are suspicions that HongKongDAO could also be disseminating false and deceptive details about its enterprise by way of on-line channels. It additional identified that BitCuped falsely claims on its web site that “Laura Cha” and “Nicolas Aguzin” maintain the positions of Chairman and Chief Government Officer, respectively, whereas neither of them has any affiliation with BitCuped. In actuality, Cha and Aguzin are executives with the Inventory Change of Hong Kong, unrelated to BitCuped.
The SFC emphasised that the deceptive info related to HongKongDAO may probably mislead people into believing that its providers are correctly licensed and legit, thereby encouraging investments within the HKD token. The securities regulator intends to handle this situation to guard traders from potential fraud.
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