The rate of Cryptocurrency fraud seems to be alarming in 2024,as exchanges are now been hacked or involved in scam activity,Lately was the scenery of fraud by OKX and reporting live is that of MEXC-FRAUD.
Hong kong police took it to the street to alert the public of scam operations undertaken with virtual assets on different trading platforms.
LIVE CRYPTO RATES FOR TODAY
| Name | Price | 24H (%) |
|---|---|---|
 Bitcoin(BTC) | $63,808.40 | -3.68% |
 Ethereum(ETH) | $3,122.61 | -4.27% |
 XRP(XRP) | $0.52 | -4.24% |
 Cardano(ADA) | $0.468841 | -5.26% |
 Bitcoin Cash(BCH) | $477.08 | -4.37% |
 Litecoin(LTC) | $84.21 | -3.09% |
 Monero(XMR) | $118.73 | -2.51% |
 IOTA(IOTA) | $0.232645 | -9.34% |
 Dash(DASH) | $30.04 | -5.28% |
 NEM(XEM) | $0.038407 | -10.42% |
After this alarm was raised on February 9 2024,and the trading platform for this scam operations was specifically spotted to be MEXC.
The security and futures commission (SFC) ,who are in charge of investigating illegal virtual assets trading, has now joint forces with the police to avert this crime as the step out to block MEXC website.
According to their investigations, They suspect MEXC team are in disguise , claiming to be providing investment advices for free thereby luring the prone public to join different social media chats and groups.
“On these chat groups, victims interested in buying cryptocurrencies were referred to websites operated by MEXC. Victims were then asked to deposit funds into designated bank accounts for investment purposes, but after that, they reported difficulties with fund withdrawal.”
SFC statement
Already the security and futures commission of Hong Kong has created a license for cryptocurrency exchanges ,and has warned unregistered exchanges to apply,
Many cryptocurrency companies has applied for this and some has been granted whilst some are still under approval ,This has been in effect since February 29 ,as it aims at probing crimes like this.
