Asia Tech Wire (July 29) -- The Hong Kong Securities and Futures Commission (SFC) issued a press release on Monday, cautioning the public against an entity operating under the name "Proxinex" that allegedly engages in fraudulent practices related to virtual assets.

Investors reported difficulties in withdrawing virtual assets from Proxinex, and were subsequently told that their accounts do not exist.

The SFC suspected that Proxinex had engaged an agent to induce investors to deposit money with Proxinex through a dating application.

The agent may have falsified documents purporting to be issued by a financial regulator and a financial institution in Hong Kong to whitewash a resume.

The SFC added Proxinex and its related websites to its Suspicious Virtual Asset Trading Platforms Alert List on July 29, 2024. The statement said that although the websites are currently unavailable, the public should beware that fraudsters may continue to set up websites with similar domain names.