Hong Kong SFC & Police Issue Warning to Public of Suspected Fraud by 2 Virtual Asset Trading Platforms Operating under Names of Aramex & DIFX, Enticed Victims to Invest into Cryptocurrencies But Victims Unable to Withdraw Funds after Transfer, Both Aramex & DIFX Use Instant Messaging or Social Media Group Chats to Promote Investments
18th January 2024 | Hong Kong
The Hong Kong Securities and Futures Commission (SFC) & police has issued a warning to the public of suspected fraud by 2 virtual asset trading platforms operating under names of Aramex & DIFX, enticing victims to invest into cryptocurrencies but victims unable to withdraw funds after transfer. Both Aramex & DIFX use instant messaging or social media group chats to promote investments. On Aramex: “The SFC and the Police noted that Aramex has adopted a name very similar to that of a logistics company listed on the Dubai Financial Market, when there is no indication that they are associated. Aramex enticed victims to join social media chat groups on the pretence of offering free investment advice. On these chat groups, individuals claiming to be investment experts referred victims interested in investing in cryptocurrencies to websites operated by Aramex. Victims were then required to deposit funds into designated bank accounts for investment purposes, but after that they have not been able to withdraw their funds.” On DIFX: “The SFC and the Police noted that DIFX has adopted a name very similar to that of another cryptocurrency exchange, when there is no indication that they are associated. DIFX enticed victims through means similar to those employed by Aramex. Individuals claiming to be investment experts used instant messaging apps to refer unwary investors to websites operated by DIFX. By the same token, victims were required to deposit funds into designated bank accounts, but after that they have not been able to withdraw their funds.” See below for more info:
“ Hong Kong SFC & Police Issue Warning to Public of Suspected Fraud by 2 Virtual Asset Trading Platforms Operating under Names of Aramex & DIFX, Enticed Victims to Invest into Cryptocurrencies But Victims Unable to Withdraw Funds after Transfer, Both Aramex & DIFX Use Instant Messaging or Social Media Group Chats to Promote Investments “
Hong Kong SFC & Police Issue Warning to Public of Suspected Fraud by 2 Virtual Asset Trading Platforms Operating under Names of Aramex & DIFX
18th January 2024 – The Securities and Futures Commission (SFC) and the Police today warned the public of suspected frauds involving two entities purporting to be virtual asset trading platforms (VATPs). They operate under the names of “Aramex” and “DIFX” (Notes 1 & 2). In both cases, the SFC and the Police shared intelligence under the joint working group that monitors and investigates illegal activities relating to VATPs.
Aramex
- The SFC and the Police noted that Aramex has adopted a name very similar to that of a logistics company listed on the Dubai Financial Market, when there is no indication that they are associated.
- Aramex enticed victims to join social media chat groups on the pretence of offering free investment advice. On these chat groups, individuals claiming to be investment experts referred victims interested in investing in cryptocurrencies to websites operated by Aramex. Victims were then required to deposit funds into designated bank accounts for investment purposes, but after that they have not been able to withdraw their funds.
DIFX
- The SFC and the Police noted that DIFX has adopted a name very similar to that of another cryptocurrency exchange, when there is no indication that they are associated.
- DIFX enticed victims through means similar to those employed by Aramex. Individuals claiming to be investment experts used instant messaging apps to refer unwary investors to websites operated by DIFX. By the same token, victims were required to deposit funds into designated bank accounts, but after that they have not been able to withdraw their funds.
The SFC posted Aramex, DIFX and their respective websites on the Suspicious Virtual Asset Trading Platforms Alert List on 18 January 2024. While their identifiable websites have been blocked upon steps taken by the Police, the public should beware of websites with similar domain names which may be continuously created by the two entities.
The SFC once again reminds the public to be cautious about “too-good-to-be-true” investment opportunities and advice posted on social media platforms and via instant messaging apps. The public should also be aware that fraudulent, unlicensed platforms will often adopt names similar to those of legitimate entities to confuse investors. Investors should stay vigilant against fraud when making investment decisions.
Notes:
1. Aramex claimed to be a virtual asset trading platform and operates or operated the following websites:
- https://aramexzat.com/h5
- https://aramexpro.com
- https://aramexsih.com/h5
- https://aramexeid.com/h5
- https://aramexril.com/h5#/
- https://aramexame.com
- https://aramexio.com/h5
- https://aramexgna.com/h5
2. DIFX claimed to offer cryptocurrency trading services and operates or operated the following websites:
- https://difx.hk7878.com
- https://difx.hkcharge.com
- https://client.difxa.com
- www.difx.hk787878.com
- https://difx.sattva-wealth.com
- https://bika.wealthred.com
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