The SFC warned Hong Kong users on Jan. 26 and described Floki’s staking programs as “suspicious investment products.”
The Hong Kong Securities and Futures Commission (SFC) has blocked users from staking in the dog-themed memecoin project Floki, describing them as "suspicious investment products."
On Jan. 26, the SFC warned users from its jurisdiction about the Floki and TokenFi staking programs, pointing out their annualized return promise of between 30% and more than 100%. According to the SFC, investors should be cautious about products that claim to offer returns that are “too good to be true.”
Floki responded to the Hong Kong Securities and Futures Commission (SFC) warning by blocking Hong Kong-based users from joining its staking program.
