Beware: SFC Warns of 7 Unlicensed Cryptocurrency Exchanges Linked to Scams

IconCryptoNewsTerminal Staff05 Jul, 2024

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Beware: SFC Warns of 7 Unlicensed Cryptocurrency Exchanges Linked to Scams

The Securities and Futures Commission (SFC) of Hong Kong has issued a warning to investors about seven unlicensed cryptocurrency exchanges that are allegedly involved in scams. The exchanges are: - XTCQT - CEG - BTEPRO - Bitones.org - Yomaex - Bstor - Taurusemex The SFC says these exchanges have been restricting users from withdrawing their funds and have been imposing hefty fees for releasing funds or unfreezing accounts. The police are continuously taking down these websites, but the operators often re-establish their presence using similar domain names. Investors should be cautious and only deal with licensed and regulated cryptocurrency exchanges.