
KEY POINTS
- HK's SFC said BitForex is "suspected of engaging in fraudulent activities"
- BitForex has been added to Hong Kong's Alert List of "suspicious virtual asset trading platforms"
- The exchange was also flagged by Japan's financial regulator last year
Hong Kong's securities and futures regulator on Monday warned markets and users against cryptocurrency exchange BitForex after it went offline late last month following reported withdrawals of $57 million from hot wallets.