Hong Kong Securities and Futures Commission: Beware of suspicious investment products such as "FoFund", "Fo Coin" and "Taohuayuan NFT"

PANews reported on July 29th that the Hong Kong Securities and Futures Commission (SFC) issued an announcement warning the public against suspicious investment products named "FoFund Duoduo No. 1," "FoFund Duoduo No. 2," "Fo Coin," and "Taohuayuan NFT." These products involve management strategies related to virtual asset investments, digital tokens, and non-fungible tokens related to paintings. These investment products have not been authorized by the SFC for sale to the Hong Kong public. The SFC notes that the public in Hong Kong can access information about these products through their respective websites, social media accounts, and mobile applications.

Previous news Caixin reported that Qian Fenglei's Fofund fund wealth management products had been shut down.

Hong Kong Securities and Futures Commission: Beware of suspicious investment products such as "FoFund", "Fo Coin" and "Taohuayuan NFT"

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