Hong Kong's SFC Sounds Alarm on Bybit: Crypto Traders Beware! In the ongoing crackdown on unlicensed crypto exchanges, Hong Kong's Securities and Futures Commission (SFC) has set its sights on
Bybit, adding it to the list of
suspicious platforms.
With no operating license, Bybit's
leveraged tokens and other offerings have been deemed risky by the SFC, which warns of potential
financial pitfalls for investors.
The commission doesn't mince words, cautioning traders about the
impending losses if these unlicensed exchanges suddenly go dark, possibly taking funds with them.
Legal action might prove challenging against offshore entities, leaving investors to navigate treacherous waters without a clear recourse.
The SFC emphasizes the importance of
investor vigilance, vowing to take strong enforcement measures against any illegal activities in the crypto space.
