Hong Kong’s Securities and Futures Commission (SFC) today warned the public of a purported virtual asset trading platform (VATP) operating under the name of “Sure X” (also known as “Sure Bit International Pte Ltd / Sure Bit International Ltd / Sure 9”).
Sure X refers to a purported VATP which operates at the websites https://surexchanqe.io and http://sure9.com.
The SFC suspects that Sure X may have actively marketed its purported VATP services to Hong Kong investors without a licence under the guise of providing education and training on blockchain and cryptocurrencies.
Under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, it is an offence to carry on a business of providing a virtual asset service (ie, operating a virtual asset exchange) in Hong Kong and/or actively market such services to Hong Kong investors without a licence.
While Sure X’s platform websites appear to be inaccessible, the SFC notes that Hong Kong investors, through other means via the internet, may still be able to access the websites and/or the purported trading platform and register as new users. The SFC thus posted Sure X and its websites on the Suspicious Virtual Asset Trading Platforms Alert List on 5 April 2024.
Once again, the SFC cautions investors against trading virtual assets on unregulated VATPs. These platforms may adopt various means to indirectly promote their trading services, including offering seminars and courses that claim to provide “education and training” opportunities.
Investors may risk losing their entire investment held on the platform if it ceases operation, collapses, is hacked or otherwise suffers from any misappropriation of assets. If in doubt about the licensing status of a VATP, please refer to the SFC’s List of licensed virtual asset trading platforms.
