HKMA Sounds Alarm: Beware of Fake Alipay Investment Platforms Promising ’Too-Good-To-Be-True’ Returns

Hong Kong's financial watchdog just dropped a bombshell—fraudsters are cloning Alipay's branding to lure unsuspecting investors.

Scam alert: The HKMA identified multiple spoofed financial services websites impersonating the payments giant. No official partnership exists—just another case of 'if it looks like free money, it's probably your money exiting stage left.'

How they hook victims: Fake portals promise algorithmic trading tools and 300% APY 'vaults'—because nothing screams legitimacy like triple-digit returns. (Spoiler: Even DeFi's hottest yield farms don't pull those numbers sustainably.)

The kicker? These sites demand seed phrases or private keys upfront. A classic red flag—legitimate platforms never ask for cryptographic crown jewels.

While Web3 thrives on decentralization, this serves as a brutal reminder: When centralized entities get impersonated, old-school regulators still deliver the sharpest warnings. Maybe keep that in mind before chasing the next 'Alipay-endorsed' Bitcoin arbitrage bot.

The Hong Kong Monetary Authority (HKMA) has issued a public warning regarding fraudulent websites posing as Alipay Financial Services (HK) Limited. This alert is part of a broader effort to protect consumers from online scams and financial fraud, according to the HKMA.

Fraudulent Website Identified

The HKMA's alert comes after Alipay Financial Services (HK) Limited, a licensed stored value facility (SVF), reported the existence of a fraudulent website. The site in question, hxxps[:]//alipay0189hk[.]com, has been masquerading as an official Alipay platform, misleading users into providing sensitive personal information.

Public Advised to Exercise Caution

The HKMA emphasizes the importance of vigilance among the public. Individuals who suspect that they have been victims of such fraudulent websites, or who have inadvertently disclosed personal or financial information, are urged to contact Alipay Financial Services (HK) Limited immediately. Additionally, affected individuals should report the incident to the police or reach out to the Anti-Deception Coordination Centre at 18222.

Ongoing Efforts to Combat Fraud

This alert is part of HKMA's ongoing initiatives to combat financial fraud and enhance cyber security within the financial sector. The authority continues to work closely with financial institutions to ensure that robust security measures are in place to protect consumers against such threats.

For more information on this alert, visit the Hong Kong Monetary Authority.

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• fraud alert
• alipay financial services