when

Force

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/hong-kong-watchdog-cracks-down-on-sham-crypto-sites" rel="noopener noreferrer nofollow">Hong Kong Watchdog Cracks Down on Sham Crypto Sites</a><br></p>
<p style="text-align: justify">Hong Kong’s Securities and Futures Commission (SFC) has recently taken action against a series of fraudulent websites that were made to appear as reputable local <a href="https://en.bitcoinhaber.net/investor-alert-beware-of-false-altcoin-listing-claims-on-crypto-exchanges" rel="noopener noreferrer nofollow">cryptocurrency exchanges</a>. On March 4, the regulatory body publicized a caution about several dubious sites that were designed to replicate two established crypto trading platforms.</p>
<h2 id="immediate-regulatory-intervention">Immediate Regulatory Intervention</h2>
<p style="text-align: justify">Cybercriminals had set up multiple misleading domain names that closely resembled those of two legitimate Hong Kong-based exchanges, OSL Digital Securities and HashKey (also known as Hash <a href="https://en.bitcoinhaber.net/deceptive-defi-app-lures-users-with-curve-finance-branding-on-apple-store" rel="noopener noreferrer nofollow">Blockchain</a> Limited). The SFC has acted by obstructing six deceptive websites including hskexpro and oslint. This decisive move came in response to user complaints about obstructive withdrawal processes and excessive fees.</p>
<p style="text-align: justify">The assistance of the Hong Kong Police Force was enlisted at the SFC’s behest, leading to the blocking of these sites. Currently, these deceptive sites are itemized on the SFC’s official crypto warning list, where they join other sham sites, including those that have copied MEXC, another crypto exchange previously targeted with similar schemes.</p>
<p style="text-align: justify">The SFC has urged all investors to exercise due diligence by cross-referencing trade platforms with publicly available lists of regulated entities and individuals. They recommend utilizing the official list of licensed crypto asset trading platforms to access accurate information, including genuine website links.</p>
<h2 id="insights-from-cybersecurity-professionals">Insights from Cybersecurity Professionals</h2>
<p style="text-align: justify">Bartosz Barwikowski, a <a href="https://en.bitcoinhaber.net/exploring-the-surge-in-cryptocurrency-scams-during-valentines-season" rel="noopener noreferrer nofollow">security</a> expert from the blockchain security company Hacken, has provided his insight on the issue. He acknowledges the difficulty users can face when trying to distinguish between authentic and fraudulent websites, especially when visiting a site for the first time.</p>
<p style="text-align: justify">As scammers can manipulate search engine outcomes, Barwikowski suggests avoiding reliance on search engines or social media for accurate information. Instead, he recommends using mobile applications, which are harder to counterfeit, and consulting trusted third-party websites, such as those provided by the government or specialized organizations, to verify the legitimacy of crypto exchanges.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/hong-kong-watchdog-cracks-down-on-sham-crypto-sites" rel="noopener noreferrer nofollow">Hong Kong Watchdog Cracks Down on Sham Crypto Sites</a></h5>

Hong Kong Watchdog Cracks Down on Sham Crypto Sites

Table of Contents

BH NEWS

Other articles published on Mar 4, 2024

Is Bitcoin's Bull Run Stumbling? Record Grayscale Outflows Signal Potential Shift

Bitget director: Bitcoin aims for $200k price tag during bull cycle

Robinhood Partners With Arbitrum Blockchain To Simplify Crypto Swaps

Solana Might Hit Its ATH Soon

Bitcoin Price Direction Determined by Reliable Metric

Chainlink (LINK) Climbs Past Key Resistance, Bullish Trend Emerges

Join our free newsletter for daily crypto updates!