According to reports, the Hong Kong Securities and Futures Commission warned the public to beware of an unlicensed virtual asset company called International Standard Carbon Assets Technology Co., Limited, also known as "iSCAT" or "iSCAT Exchange" trading platform. The Securities and Futures Commission of Hong Kong stated that “iSCAT” and/or “iSCAT Exchange" claims to be a virtual asset trading platform that once operated in Hong Kong. It provides cryptocurrency trading services and uses social media platforms to recommend investors to its website and applications to invest in cryptocurrency. According to the Securities and Futures Ordinance and the Anti-Money Laundering and Anti-Money Laundering Under the Terrorist Financing Ordinance, it is an offense to operate a business that operates regulated activities and a business that provides virtual asset services (i.e. operating a virtual asset exchange) in Hong Kong without a license and/or actively promotes such services to Hong Kong investors. In addition, the Hong Kong Securities and Futures Commission also announced that Hash Blockchain Limited, a licensed virtual asset trading platform, reported 11 websites as fraudulent websites.