Bybit and 11 of its products flagged as ‘suspicious’ by Hong Kong regulator
In a statement, Hong Kong regulators said, “no entity in the Bybit group is registered to conduct any ‘regulated activity’ in Hong Kong.”
In a statement, Hong Kong regulators said, “no entity in the Bybit group is registered to conduct any ‘regulated activity’ in Hong Kong.”
The rate of crypto crime in Hong Kong has reportedly tripled over the past three years, with documented cases in 2023 involving $611 million.
Hong Kong’s Securities and Futures Commission listed the Hounax exchange as suspicious this month after it faked ties with a VC firm.
The man is one of four recent arrests in connection to JPEX, the Dubai-based crypto firm that has seen losses of up to $191 million.
Hong Kong-based JPEX has suspended trading and seen one person arrested amid claims it’s been operating in the country without a license.