Hong Kong SFC Issues Warning of Suspected Virtual Asset Fraud by Bitbank Global Financial & LonShiX, Bitbank Used a Name Similar to Crypto Exchange in
Hong Kong, Asia's leading financial centre Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2024 Investment Day | 2024 Family Office Summits | Family Office Circle This site is for accredited investors, professional investors, investment managers and financial professionals only. You should have assets around $3 million to $300 million or managing $20 million to $3 billion. 
Hong Kong SFC Issues Warning of Suspected Virtual Asset Fraud by Bitbank Global Financial & LonShiX, Bitbank Used a Name Similar to Crypto Exchange in Japan & Claimed to Have Obtained SFC Licences & Started Applying for Virtual Asset Service Provider Licence, LohShiX Claimed to be Located in Hong Kong & Investment Professionals Authorized by Banks 21st December 2023 | Hong Kong
The Hong Kong SFC (Securities & Futures Commission) has issued a warning of suspected virtual asset fraud by Bitbank (Global) Financial and LonShiX. Bitbank is using a name similar to crypto exchange in Japan (bitbank Inc) and claimed to have obtained Hong Kong SFC licences including started applying for virtual asset service provider licence. LonShiX claimed to be located in Hong Kong and their investment professionals are authorized by banks. Hong Kong SFC: “1) The SFC notes that LonShiX claims to be located in Hong Kong with a fake address on its website. Through individuals falsely claiming to be investment professionals authorised by banks on social media platforms and instant messaging apps, LonShiX lures investors to open investment accounts. 2) The SFC notes that Bitbank (Global) Financial Holding Group has adopted a name that is very similar to that of a cryptocurrency exchange based in Japan, when in fact they are not associated. The SFC also suspects that Bitbank (Global) Financial Holding Group may have disseminated false and misleading information about itself and its business through online channels, including its website and social media platforms, claiming that it has obtained SFC licences and begun to apply for a virtual asset service provider’s licence.” More info below:
“ Hong Kong SFC Issues Warning of Suspected Virtual Asset Fraud by Bitbank Global Financial & LonShiX, Bitbank Used a Name Similar to Crypto Exchange in Japan & Claimed to Have Obtained SFC Licences & Started Applying for Virtual Asset Service Provider Licence, LohShiX Claimed to be Located in Hong Kong & Investment Professionals Authorized by Banks “
- Article continues below - Quick Links, Ads & Announcements Caproasia Access | Events | Summits | Register Events | The Financial Centre The 2024 Investment Day | 2024 Family Office Summits | Family Office Circle Sign Up Basic Member: $5 Monthly | $60 Yearly Newsletter Daily 2 pm (Promo): $20 Monthly | $180 Yearly (FP: $680) The 2024 Investment Day | 28/2 HK & 6/3 SG Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 28th February 2024 in Hong Kong, 6th March 2024 in Singapore. Visit | Register here The 2024 Family Office Summit20th March / 3rd April HK & 3rd / 10th April SG Join 100+ single family offices & family office professionals in Hong Kong & Singapore Links: 2024 Family Office Summit | Register here
Hong Kong SFC Issues Warning of Suspected Virtual Asset Fraud by Bitbank Global Financial & LonShiX
Hong Kong, Asia’s leading financial centre 20th December 2023 – The Securities and Futures Commission (SFC) today warned the public to beware of entities operating under the names of “LonShiX” (Note 1) and “Bitbank (Global) Financial Holding Group” (Note 2), suspected of engaging in fraudulent activities purporting to be related to virtual assets.
LonShiX
- The SFC notes that LonShiX claims to be located in Hong Kong with a fake address on its website. Through individuals falsely claiming to be investment professionals authorised by banks on social media platforms and instant messaging apps, LonShiX lures investors to open investment accounts.
Bitbank (Global) Financial Holding Group
- The SFC notes that Bitbank (Global) Financial Holding Group has adopted a name that is very similar to that of a cryptocurrency exchange based in Japan, when in fact they are not associated.
- The SFC also suspects that Bitbank (Global) Financial Holding Group may have disseminated false and misleading information about itself and its business through online channels, including its website and social media platforms, claiming that it has obtained SFC licences and begun to apply for a virtual asset service provider’s licence (Note 3).
None of the above claims is true, but they may give a false and misleading impression that Bitbank (Global) Financial Holding Group’s services and business are properly licensed and legitimate, inducing others to trade on its platform.
- At the SFC’s request, the Hong Kong Police Force has taken steps to block access to the websites of LonShiX and Bitbank (Global) Financial Holding Group, as well as the relevant X accounts (Note 4).
- LonShiX, Bitbank (Global) Financial Holding Group and their websites were posted on the SFC’s Suspicious Virtual Asset Trading Platforms Alert List on 20 December 2023.
The SFC once again takes this opportunity to warn the public to be cautious about “too-good-to-be-true” investment opportunities and advice posted on social media platforms and via instant messaging apps. Investors should stay vigilant and beware of fraud when making investment decisions.
Notes:
You are:
InvestorProfessionalFamily OfficeExecutive
Select:
SubscriptionMembershipEvents
Interests / Events / Summits / Roundtables / Networking:
Professional InvestorPrivate WealthFamily OfficePrivate BankingWealth ManagementInvestmentsAlternativesPrivate MarketsCapital MarketsESG & SICEO & EntrepreneursTax, Legal & RisksHNW & UHNWs Insights
Your Name*
Company*
Job Title*
Email 1 (Work / Personal)*
Email 2 (Work / Personal)
Country
New to Caproasia Learn More | Sign Up | Subscribe | Register Events Caproasia Users - Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
- Professional Investor
- Family Office
- HNW Partnership
- Family Office Circle
- Family Office Networking
- Family Office Roundtable
- The Family Office Summit
- March 2024 - Hong Kong
- March 2024 - Singapore
- June 2024 - Hong Kong
- June 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Visit: The Investment Day | Register: Click here
- The Investment Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
Owl Media Group takes pride in providing social-first platforms which equally benefit and facilitate engagement between businesses and consumers and creating much-needed balance to make conducting business, easier, safer, faster and better. The vision behind every platform in the Owl Media suite is to make lives better and foster a healthy environment in which parties can conduct business efficiently. Facilitating free and fair business relationships is crucial for any thriving economy and Owl Media bridges the gap and open doors for transparent and successful transacting. No advertising funds influence the functionality of our media platforms because we value authenticity and never compromise on quality no matter how lucrative the offers from advertisers may seem.