Hong Kong Authorities Issue Alert on MEXC Exchange Impersonator Scam

• Allegedly, the impersonator is stealing money by tricking would-be investors.
• Eight websites were discovered by the SFC as potentially linked to the deceitful party.

An alert has been issued by the Hong Kong Securities and Futures Commission (SFC) and the local police force about a scammer claiming to be MEXC, a cryptocurrency exchange. Allegedly, the impersonator is stealing money by tricking would-be investors.

As part of its larger efforts to monitor and investigate unlawful virtual asset trading providers (VATPs), the SFC recently announced that it is partnering with the police in a combined operation.

Impossible to Withdraw

The authority in charge of overseeing financial matters has said that a deceitful business under the MEXC umbrella is bilking unsuspecting investors out of their money by promising them investments in exchange for deposits that they would later discover are impossible to withdraw.

In addition, eight websites were discovered by the SFC as potentially linked to the deceitful party. Domain names like “mexczx.icu” and “mexczx.co.” all include the word MEXC. Websites with confusingly identical domain names can be constantly popping up, so people should exercise caution, the statement warns.

To assist the public in identifying possibly unregulated VATPs in Hong Kong, the SFC said in September 2023 that it will publish a list of VATPs that are licensed, deemed licensed, closed down, or have an application pending.

This is happening at a time when the real MEXC exchange’s enforcement actions have been under growing scrutiny. Several traders’ accounts were reportedly frozen and their funds confiscated as reported in December 2023. The exchange asserts that “abnormal trading activities” were the driving force behind the measures.

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