The Securities and Exchange Commission of Hong Kong (SFC) today warned the public about an alleged virtual asset trading platform (VATP) operating under the name “Sure X” (also known as “Sure Bit International Pte Ltd / Sure Bit International Ltd / Sure 9 ”).
Sure X refers to a supposed VATP that works on the websites and
The SFC suspects that Sure X may have actively marketed its purported VATP services to unlicensed Hong Kong investors under the guise of providing blockchain and cryptocurrency education and training.
Pursuant to the Anti-Money Laundering and Anti-Terrorist Financing Ordinance, it is an offense to carry on a virtual asset service business (eg operating a virtual asset exchange) in Hong Kong and/or actively dispose of such services in Hong Kong unlicensed investors.
While the Sure X platform websites appear to be inaccessible, the SFC notes that Hong Kong investors, through other means over the internet, may still be able to access the websites and/or purported trading platform and register as new users. Thus, the SFC published Sure X and its websites on the Alert List for Suspicious Virtual Asset Trading Platforms on 5 April 2024.
Once again, the SFC warns investors against trading virtual assets on unregulated VATPs. These platforms may adopt various means to indirectly promote their commercial 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 the Platform ceases to operate, crashes, is hacked or otherwise suffers from any misappropriation of assets. If you are in doubt about the licensing status of a VATP, please refer to the SFC’s List of Licensed Virtual Asset Platforms.