According to an announcement, the SC has ordered Huobi to stop its operations in the country, including disabling its website and mobile application on Apple Store, Google Play and other digital application platforms.
Huobi has also been directed to cease circulating, publishing, or sending any advertisements, whether in email or on social media platforms, to Malaysian investors.
Investors, who have been using Huobi, are called to immediately cease trading through its platform, withdraw all their investments, and close their accounts.
“Those who invest with unlicensed or unregistered entities or individuals are exposed to risks such as fraud and may not be protected under Malaysian securities laws,” SC said in the announcement.
Huobi was founded in 2013 as a crypto trading platform, providing secure and convenient trading services for digital assets.
LiveIn.com acquires KT Management
Malaysia-based prop-tech startup LiveIn has acquired local firm KT Management, a student accommodation and long-term rental solutions provider in Malaysia’s northern region, per a report on e27.
The transaction’s details were not disclosed.
This acquisition aims to extend LiveIn’s flexible community living solutions to KT Management’s thousands of tenants.
Founded in 2015, LiveIn.com started as a platform to tackle long-term room rental issues among students and property owners in Malaysia through a marketplace website that connects house owners and potential tenants.
The firm shifted the direction in 2018 to offer value-added co-living experiences for working professionals and students from middle-class families in Southeast Asia. Its backers include KK Fund, Jungle Ventures, Wavemaker Partners, Aucfan.