Hong Kong regulator warns investors against using crypto exchange MEXC
The reason was that the platform did not have a license to operate in the local market
15.03.2024 - 14:10
859
2 min
0
What’s new? The Hong Kong Securities and Futures Commission (SFC) has issued an investor warning against crypto exchange MEXC, listing it as a suspicious platform for trading virtual assets. Officials wrote that MEXC, which actively promotes its services to Hong Kong investors, did not apply to the SFC for a license to operate in the local market.
What else is known? Under the Anti-Money Laundering and Countering the Financing of Terrorism Ordinance, it is an offense to operate a crypto exchange in Hong Kong without a license, officials warned. They emphasized that they “will not hesitate to take enforcement action against unlicensed platforms where appropriate.”
The SFC warned investors against trading virtual assets on unregulated exchanges, noting that they risked losing their entire investment if such a platform ceased operations, went bankrupt, or was hacked.
A day earlier, the regulator published a similar warning regarding the crypto exchange Bybit. Also on February 9, a number of phishing websites mimicking MEXC to steal investors’ funds were included in the list of suspicious platforms.
In January, India’s fintech agency accused a number of global platforms, including MEXC, of failing to comply with anti-money laundering laws and demanded that MEXC block their websites. The MEXC app has since disappeared from the App Store in India.
Late last year, X users reported freezing and seizing funds on MEXC due to “abnormal trading activity.”
Useful material?
Telegram 
Twitter Incidents
The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit
May 22, 2026
Incidents
Following the incident, the project temporarily halted trading operations and node activity.
May 15, 2026
Incidents
The user spent weeks unsuccessfully trying to guess the password until Claude helped find an old wallet backup file
May 14, 2026
Crypto regulations
Authorities are introducing mandatory registration for companies handling cross-border crypto transactions
May 8, 2026
Incidents
According to Blockaid, the attack may have been carried out by the same hacker behind the 1inch Fusion V1 exploit.
May 7, 2026
Incidents
The attacker gained administrative access and altered contracts to drain user funds
Apr 30, 2026
Cryptocurrency rates
-
Bitcoin
$63 473
BTC
-2.19%
-
Ethereum
$2 551.16
ETH
+3.56%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.16
XRP
-4%
-
TRON
$0.160134
TRX
-1.59%
-
Dogecoin
$0.087259
DOGE
-5.14%
-
Zcash
$451.61
ZEC
-27.16%
-
Stellar XLM
$0.200737
XLM
-5.03%
-
Cardano
$0.180464
ADA
-10.99%
-
Polkadot
$3.32
DOT
+5.27%