The Securities and Futures Commission (SFC) of Hong Kong has issued a public warning regarding Proxinex, an entity suspected of virtual asset-related fraud. Investors have encountered issues withdrawing virtual assets from Proxinex, later being informed that their accounts were nonexistent. The SFC suspects Proxinex enlisted an agent to attract investors through dating apps, possibly using forged documents from a local financial regulator and a financial institution to bolster the agent’s profile.
Hong Kong Regulator Warns Against Proxinex for Suspected Virtual Asset Fraud
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On July 29, the SFC included Proxinex and its website on its Suspicious Virtual Asset Trading Platforms Alert List. Although the website is now inaccessible, there is concern that similar domain names may be created. The SFC highlights the prevalence of online investment scams involving various assets through multiple channels, leading to significant investor losses. The SFC advises investors to remain vigilant and cautious to avoid fraud when making investment decisions.
