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SC Malaysia Flags Crypto Bots, Websites & Telegram Groups in Investor Watchlist

Securities Commission Malaysia has added a slew of crypto entities to its Investor Alert List.

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The Malaysian Securities Commission has included new entities into its Investor Alert List, it announced on its official social media pages.

According to SC Malaysia, crypto trading company Pionex was added for "Carrying on unlicensed capital market activities of dealing in securities" and "Misrepresentation, misusing SC’s logo."

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Crypto on-ramp solution Simplex, owned by listed Canadian-based IT solutions company Nuvei, was also added to this list recently for "Operating a digital asset exchange (DAX) without registration."

Numerous other crypto entities were added to the Investor Alert List in 2023 alone: MBBX, DECP, ICBC, Banxa, and CAE Crypto, all for operating a DAX without registration.

Also included in the announcement were Telegram group operating entity Pelaburan Bitcoin Malaysia (Bitcoin Malaysian Investment) for "Illegal investment scheme offering high returns e.g return of RM15,000 with investment of RM1,000" and "Carrying on unlicensed capital market activities of fund management."

The new inclusions in the announcement bring up the total tally to 72 entities for illegally operating a DAX without registration in Malaysia.

Read More: SC Malaysia Opens Floodgates, RMO License Applications Now Open

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