Hong Kong regulators have issued a warning about fake stablecoins that exploit the HSBC name to scam investors. The Hong Kong Monetary Authority identified unauthorized tokens labeled HKDAP and HSBC circulating in the market, which have no connection to approved issuers. These deceptive tokens pose a significant risk to retail investors by imitating trusted financial brands. Authorities emphasized the importance of verifying crypto-related offerings through official channels to avoid falling victim to scams. Both HSBC and Anchorpoint Financial have denied any association with these tokens, clarifying that their official stablecoin projects are still under development. Hong Kong continues to strengthen its regulatory framework to combat crypto-related fraud as legitimate stablecoin projects near launch.