Hong Kong Securities and Futures Commission: VEX suspected of engaging in fraud related to virtual assets has been included in the warning list

the Hong Kong Securities and Futures Commission warns the public to be cautious of an entity named "VEX/Volcano Exchange," which is suspected of engaging in virtual asset-related fraudulent activities and has currently been placed on the warning list along with its website.

The Hong Kong Securities and Futures Commission stated that VEX claims to be a licensed virtual asset trading platform operating in Hong Kong, but it has not obtained a license. The entity also falsely claims to be collaborating with a company licensed by the Hong Kong Securities and Futures Commission, but the licensed corporation has confirmed that it has no relationship with it.