Poloniex, a cryptocurrency exchange owned by businessman Justin Sun, has been added to the Financial Conduct Authority’s (FCA) warning list of unapproved businesses in the UK. The FCA stated that companies and individuals cannot market financial services in the UK without the necessary authority or approval. The FCA also reminded the public that they cannot rely on financial law protection when dealing with unlicensed organizations.

In August, the FCA disclosed that it has received 291 applications from cryptocurrency companies looking to register, but only 38 have been granted approval. In October, the FCA announced that 140 cryptocurrency businesses, including KuCoin and HTX, were on its watch list. So far, PayPal UK is the only organization that has been approved by the FCA.

Poloniex, which experienced a $100 million breach in November, has completed most of its restoration efforts and is preparing to resume accepting deposits and withdrawals. The platform has already restored deposit and withdrawal capabilities for a limited number of cryptocurrencies and plans to gradually expand the services to more cryptocurrencies.

HTX, a cryptocurrency exchange formerly known as Huobi and owned by Justin Sun, has been targeted by four hacks in the past two months. In September, HTX lost $8 million, and in late November, a hot wallet hack resulted in a loss of $30 million. Additionally, hackers gained access to HTX’s HECO Chain Bridge and transferred at least $86.6 million to suspicious addresses.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Africa
Countries	🇸🇨
Sentiment	neutral
Relevance Score	1
People	Justin Sun
Companies	HTX, Poloniex, PayPal UK, KuCoin, Financial Conduct Authority (FCA)
Currencies	USDD, APENFT, WINkLink, Sun Token, Tether, US Dollar, BitTorrent, JUST
Securities	None