Securities and Futures Commission (SFC) of Hong Kong has issued a warning to the public to be cautious of a virtual asset trading platform operating under the name BitForex which is suspected of engaging in virtual asset fraud. BitForex is not licensed by the SFC and has not applied for a license to operate a virtual asset trading platform in Hong Kong. The SFC noted that the platform has used "wallet and website maintenance" as an excuse to make it increasingly difficult for victims to withdraw their assets from the platform over the past few days. Victims reported that the BitForex website has now been shut down, preventing them from accessing their accounts and withdrawing assets held on BitForex. The SFC has listed BitForex and its website as a suspicious virtual asset trading platform on March 4, 2024. The Hong Kong Police Force has taken action to block relevant website links and remove related social media pages as requested by the SFC.