Hong Kong SFC Flags Star Bridge Capital as Unlicensed Firm; Partial Funds Deposited via USDT May Be Hard to Trace

On August 29, the Hong Kong Securities and Futures Commission listed Star Bridge Capital, Star Bridge Capital Group, SBCFX, Star Bridge Capital Group Pty Limited, and Topical Wealth International Ltd as unlicensed companies, stating they must not conduct any regulated activities in Hong Kong or actively promote their services to the Hong Kong public, whether within or outside Hong Kong.

Previously reported, Star Bridge Capital experienced abnormal London gold trading liquidations. After the incident, its Hong Kong office was vacated. Since some funds were deposited via USDT stablecoin, tracing has become more difficult. Hong Kong police have accepted the case and classified it as fraud, but no arrests have been made so far.