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#Content Mining#The Hong Kong Police and the Securities and Futures Commission (SFC) are investigating Hounax, an unlicensed cryptocurrency exchange, following the submission of 145 fraud reports. This situation arises after the apprehension of individuals associated with the JPEX cryptocurrency fraud. Hounax, a Hong Kong-based virtual asset trading platform, has been implicated in a rug pull scheme, with local reports citing losses of about HK$148 million from 145 victims. The SFC, under the leadership of CEO Julia Leung, has received 18 complaints about Hounax, involving sums ranging from HK$12,000 to HK$10 million. Leung emphasized that Hounax is not a licensed platform and has not sought licensing from the SFC, limiting the Commission’s ability to intervene directly. BTC stands for Bitcoin, which is the first and most popular cryptocurrency in the world. Bitcoin is a digital currency that can be used to send and receive payments online without the need for any intermediary, such as a bank or a payment processor. Bitcoin transactions are recorded in a public ledger called the blockchain, which is maintained by a network of computers called nodes. Bitcoin is decentralized, meaning that no one person or entity controls it. Bitcoin is also scarce, meaning that there is a limited supply of 21 million coins that can ever be created. Bitcoin is created through a process called mining, where nodes compete to solve complex mathematical problems and earn rewards in the form of new bitcoins. Bitcoin's price is determined by the supply and demand of the market, and it can be very volatile. As of today, one bitcoin is worth about **37,784.17 USD**¹. Bitcoin has many advantages, such as low fees, fast transactions, global accessibility, censorship resistance, and transparency. However, it also has some challenges, such as scalability, security, regulation, and environmental impact. Bitcoin is constantly evolving and improving, thanks to the efforts of its developers and community. Bitcoin is more than just a currency, it is a revolutionary technology that has the potential to change the world. If you want to learn more about Bitcoin, you can visit its official website², read its whitepaper³, or explore its live price, market cap, and chart⁴..