| Name: | HOUNAX |
| Type: | Suspicious virtual asset trading platforms |
| Address(es): | - |
| Website: | www.hounax.org |
| Remarks: | The company claims to be a cryptocurrency trading platform which is in business cooperation with a financial institution and a venture capital firm when this is not in fact the case. It appears to target Hong Kong investors with pre-populated +852 field in its user log-in page and “Hounax Hong Kong” social media channels on facebook, X (formerly Twitter) and YouTube. |
| Add date: | 1 Nov 2023 |
| Last Update Date: | 8 Nov 2023 |
| Note: | |
Do not respond to suspicious virtual asset trading platform (VATP) offers if its operator is not licensed. To check whether a VATP is licensed by the SFC, please visit our List of licensed virtual asset trading platforms.
Some VATPs that appear to operate in Hong Kong or target Hong Kong investors may not have a licence to provide virtual asset service or carry out regulated activities in the city. They may lure investors with too-good-to-be-true investment offers, falsely claim to be or soon to be licensed in Hong Kong and/or overseas, or promote themselves aggressively through social media, instant messages, so-called “key opinion leaders” (KOLs) or any other forms of advertisements.
If you deal with a VATP which is not licensed by the SFC, please note that it is unregulated and not supervised by the SFC. You may lose your entire investment held on the VATP if it ceases operation, collapses, is hacked or otherwise suffers from any misappropriation of assets. Seeking recourse against those VATPs without a nexus with Hong Kong can be very difficult and legal remedies may not be available.