Hong Kong’s Securities and Futures Commission (SFC) today warned the public of suspicious investment products named “Floki Staking Program” and “TokenFi Staking Program”, both of which involve cryptocurrency staking services and claim to offer high annualised return targets of 30% to over 100%.
The two products have not been authorised by the SFC for offering to the Hong Kong public. The administrator of the two products has also not been able to demonstrate to the SFC’s satisfaction how the high annualised return targets could be achieved.
The SFC notes that information regarding these two products and the products themselves are accessible to the Hong Kong public via the Internet. This led the SFC to post the two products and their related information on the SFC’s Suspicious Investment Products Alert List on 26 January 2024.
The…
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