Hong Kong SEC Names Globiance X, Globiance HK and ProfitCoke as Suspicious Virtual Asset Platforms Amid Withdrawal Issues

The Hong Kong Securities and Futures Commission (SFC) has added ProfitCoke and Globiance X Limited / Globiance HK Limited to its roster of suspicious virtual asset trading platforms. The regulator alleges these entities promote and operate crypto trading platforms and engage in unlicensed activities, heightening compliance concerns for investors and service providers in the region.

The SFC’s action reflects heightened regulatory scrutiny of platforms tied to unlicensed crypto activity, with the designation aimed at strengthening investor protection and prompting thorough due diligence from market participants. Stakeholders should monitor official notices as the list evolves and maintain awareness of potential risk disclosures.

There have been reports of withdrawal difficulties from Globiance X/Globiance HK, raising questions about liquidity and asset accessibility. Regulators advise caution and encourage investors to verify licensing status and seek verified information before engaging with any platform.