PANews reported on January 13 that the Hong Kong Securities and Futures Commission recently warned the public to beware of an unlicensed virtual asset trading platform called International Standard Carbon Asset Technology Co., Ltd., also known as "iSCAT" or "iSCAT Exchange". iSCAT or "iSCAT Exchange", which has not been licensed by the Securities and Futures Commission, is a virtual asset trading platform that was once operated in Hong Kong. It claims to provide cryptocurrency trading services and uses social media platforms to recommend investors to invest in cryptocurrencies on its website and mobile applications.

On January 10, 2025, the SFC included "iSCAT" and/or "iSCAT Exchange" and its related websites in the SFC's warning list of suspicious virtual asset trading platforms. The SFC once again warns investors that if virtual assets are traded on unregulated virtual asset trading platforms, such as opening, closing, being hacked, or any assets being misappropriated, investors may lose all their investments held on the platform.