HKMA Warns of Fraudulent Websites Targeting Hong Kong Crypto Investors

Hong Kong‘s central bank has flagged two new phishing operations impersonating its official website, marking the third fraud warning from the authority in under a month. The Hong Kong Monetary Authority on February 4 identified a fake site at hkma-gov[.]org and multiple fraudulent login pages using “ensemble” in their domain names—a term notably associated with Hong Kong’s ongoing stablecoin sandbox program.

The timing isn‘t coincidental. Scammers appear to be exploiting public interest in the HKMA’s Project Ensemble, which has been testing regulated stablecoin issuance since 2024. By mimicking official infrastructure and using familiar terminology, fraudsters are attempting to trick users into opening fake accounts or surrendering personal credentials.

“The HKMA will not contact individual members of the public regarding personal financial matters, nor will it request members of the public to open accounts or perform any form of account verification,” the authority stated.

Pattern of Escalating Fraud Attempts

This alert follows a January 20 warning about fake social media accounts impersonating HKMA Chief Executive Eddie Yue. A separate scam alert targeting bank customers dropped just yesterday on February 3. Three warnings in two weeks suggests coordinated fraud campaigns are ramping up against Hong Kongs financial sector.

The HKMA has referred all cases to the Hong Kong Police Force. Anyone whos interacted with suspicious sites should contact the Crime Wing Information Centre at 2860 5012.

What Traders Should Watch

The “ensemble” domain abuse is particularly concerning for anyone tracking Hong Kongs stablecoin licensing progress. Expect more sophisticated impersonation attempts as the city moves closer to finalizing its digital asset framework. When regulators start issuing actual licenses, scammers will be ready with convincing fakes.