Tokencan, VBIT, and HKD.com Exposed
The Hong Kong Securities and Futures Commission (SFC) has issued a fraud alert on three entities: Tokencan, VBIT, and HKD.com. These companies are suspected of engaging in fraudulent activities related to virtual assets or operating without a license.
Tokencan
Tokencan, a supposed virtual asset trading platform, deceived investors through social media channels. After investments, customers faced withdrawal issues and were blocked from accessing their accounts. The SFC also found false information in Tokencan’s registration.
VBIT Exchange
VBIT Exchange falsely claimed to be a licensed virtual asset trading platform and registered with various authorities. However, the SFC has confirmed that this is not the case.
HKD.com Corporation
HKD.com Corporation, which shares a similar name and logo with another licensed virtual asset trading platform, has also been accused of fraudulent activities. Investors have reported difficulties withdrawing their assets.
Enforcement Actions Taken
The SFC has taken enforcement actions against all three entities, shutting down their websites and social media channels. Investors are advised to remain vigilant and only engage with licensed trading services.
Hong Kong’s Crypto Hub Ambitions
Despite these fraudulent activities, Hong Kong remains committed to becoming a global crypto hub. The SFC has approved the launch of spot Ethereum and Bitcoin exchange-traded funds (ETFs) and is conducting research on decentralized finance and the Metaverse.
