UK Regulators Issue Alert to Justin Sun’s Crypto Exchange

Recently, the Poloniex exchange, which came to the forefront with a $100 million hack attack, has received a warning from the FCA.

Crypto exchanges associated with Justin Sun, the founder of Tron, have been in the spotlight recently due to increasing attacks. The United Kingdom has taken action against these exchanges.

Justin Sun is a well-known figure in the cryptocurrency sector, not only as the founder of Tron but also as the owner of the HTX (Huobi) crypto exchange. However, platforms associated with Sun have been subjected to four significant security attacks in the last two months.

One of the platforms associated with Sun, the Seychelles-based Poloniex exchange, was hit by a $100 million attack on November 10th. Following this, the prominent exchange received a warning from the UK.

Warning from the British Regulator

Following these developments, the Financial Conduct Authority (FCA) of the United Kingdom issued a warning about Poloniex. Published on December 6th, this warning states that it is inappropriate for the exchange to offer financial services in the United Kingdom without the necessary permissions or approvals.

Additionally, it is highlighted that firms and individuals can never promote financial services in the United Kingdom without the required permission or approval.

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