Floki blocks Hong Kong stakers after SFC warning

On January 26, the Hong Kong Securities and Futures Commission (SFC) issued a warning regarding Floki's staking schemes, categorising them as 'suspicious investment products.'

The SFC raised concerns about Floki and TokenFi staking programs offering returns of 30% to over 100% per year.

Investors were advised to exercise caution when encountering such high-return claims.

In response, Floki blocked Hong Kong-based users from participating in its staking program, aligning with the SFC's warning.

Floki acknowledged that its staking programs were indeed considered "suspicious investment products," echoing the SFC's concerns.