The Securities and Futures Commission of Hong Kong added Star Bridge Capital Group and its related entities to its official Alert List on August 28, following a series of client complaints and police investigations. The SBCFX platform had triggered abnormal forced liquidations on London gold (XAUUSD) CFD contracts between August 19 and 20. Hong Kong police received approximately 54 complaints with reported losses ranging from HK$5.92 million to HK$6.63 million. Five individuals aged 26 to 43 have been arrested in connection with the investigation classified as suspected fraud. The platform announced the shutdown of its Asian operations on August 24, just days before the SFC issued its warning.
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