HKMA warns community about unregulated crypto exchange ‘Kucoin’ in Hong Kong

Significant Warn: Beware of Suspicious Procedures by “Kucoin” Ailtra Trade!

Stay educated! The Hong Kong Monetary Authority (HKMA) has issued a warning to the community about a probably fraudulent crypto trade falsely claiming to be controlled by the HKMA.

For far more specifics, check out out the official warning printed on the Authorities of the Hong Kong Distinctive Administrative Region’s site. The warning specifically mentions the digital currency system “Kucoin,” which has been falsely asserting its licensing status and demanding payments for unfreezing accounts.

It is crucial to observe that the HKMA has no ties to KuCoin and does not interact in personal monetary matters with people today. Make sure to keep vigilant and defend your property.

In recent news, the U.S. Section of Justice took lawful motion against KuCoin and its founders for alleged violations of fiscal rules. The exchange’s founders, Chun Gan and Ke Tang, are going through major accusations, and consumers have withdrawn significant quantities from the platform.

Remain risk-free and knowledgeable in the at any time-evolving earth of cryptocurrencies!