According to Foresight News, the Securities and Futures Commission (SFC) of Hong Kong has issued a public warning about suspected cryptocurrency scams involving TCAME and BitCloud. Both entities claimed to offer cryptocurrency trading services and used social media platforms or instant messaging software to direct investors to their respective websites to register as cryptocurrency users. Investors later reported issues with withdrawals, including being asked to deposit additional funds before being able to withdraw, and some investors reported their accounts being subsequently frozen.
The SFC has moved TCAME and BitCloud to the warning list of suspicious virtual asset trading platforms. Although the related websites are currently inaccessible, the public should be wary that these entities may establish new websites with similar domain names.