Proxinex Crypto Exchange Platform: Hong Kong SFC Issues Warning

IconCryptoNewsTerminal Staff29 Jul, 2024

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Proxinex Crypto Exchange Platform: Hong Kong SFC Issues Warning

Proxinex, a cryptocurrency exchange platform, has come under the scanner of the Hong Kong Securities and Futures Commission (SFC). The SFC has issued a warning against using Proxinex, citing complaints from users regarding issues with asset withdrawals. Additionally, users have reported problems accessing their accounts on the platform. The SFC's investigation revealed that Proxinex had allegedly created and distributed forged official documents stating that it had received formal approval from the authorities to solicit investors. This revelation has raised concerns about the platform's credibility and has prompted the SFC to issue its warning. It is important for investors to be vigilant when dealing with cryptocurrency exchange platforms. They should always conduct thorough research and only invest in platforms that are reputable and regulated. Proxinex's alleged actions have highlighted the need for investors to exercise caution and to be aware of the risks associated with cryptocurrency investments.

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