The Threat of Phishing Scams in the Financial and Crypto Ecosystem is Growing

#BigTechStablecoin

📌 According to PANews and the official statement from the Hong Kong Securities and Futures Commission (SFC), there has been a concerning increase in phishing scams impersonating duly licensed corporations.

🕵️‍♂️ The Modus Operandi

Cybercriminals are using text messages (SMS) with fake links that redirect to carefully designed websites that resemble the official platforms of entities registered with the regulator.

These fraudulent sites collect:

  • Usernames

  • Passwords

  • Two-factor authentication (2FA) codes

With this information, unauthorized transactions are being conducted directly from users' accounts, both on traditional platforms and exchanges with a presence in Hong Kong.

"Not everything that glitters is official. Verify before clicking."

🛡️ SFC Reaction and New Measures

The SFC has issued emergency guidelines for all licensed corporations, urging them to strengthen security mechanisms and monitor suspicious activity.

Affected customers or those who have revealed data on dubious sites are advised:

  1. Immediately contact the financial corporation or exchange where you have an account.

  2. Report the incident to the local police.

  3. Never reuse passwords or 2FA across different platforms.

🔒 Context in the Crypto ecosystem

This type of attack directly threatens users of centralized exchanges operating in jurisdictions with proactive regulation like that of Hong Kong. Binance, Coinbase, OKX, and Crypto.com have implemented additional verification layers, but the primary responsibility for verification always falls on the user.

“Trust in the crypto ecosystem must be based on education, verification, and prevention, not on blind automation.”

— Chainalysis, Crypto Crime Report 2025

Is your personal security strategy keeping up with the professional growth of digital scammers?

$USDC