HKMA Warns of Fraudulent Claims by Unregulated Crypto Exchange ‘Kucoin’

HKMA Warns of Fraudulent Claims by Unregulated Crypto Exchange ‘Kucoin’



The Hong Kong Monetary Authority (HKMA) has issued a public warning against an unregulated cryptocurrency exchange, “Kucoin,” which is allegedly involved in fraudulent activities. According to the HKMA, this platform falsely claims to be regulated by the authority and has been demanding payments to release funds from frozen accounts.



In an official notice released on the Hong Kong Special Administrative Region’s government website, the HKMA highlighted that Kucoin has been circulating documents purportedly from the authority, misleadingly stating that it is licensed by the HKMA. These documents have reportedly been used to solicit fees from individuals to purportedly recover funds from inaccessible accounts.



The HKMA has emphasized that it has no association with Kucoin and does not engage in personal financial matters with the pu


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#Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #News, #Regulations

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