PETALING JAYA: The Securities Commission Malaysia (SC) has ordered an immediate stop to all promotional activities on the newly-launched Lavidacoin cryptocurrency, pending further review.
In a statement on Wednesday (Sept 5), the SC identified DSV Crypto Club, LUX Galaxies and VI Profit Galaxy, as among the business entities promoting Lavidacoin.
According to the SC, the three companies had been added to its Investor Alert List at www.sc.com.my.
"Investors are reminded to be cautious and exercise due diligence before participating in any investment schemes, in particular those involving cryptocurrencies and digital tokens," it said in the statement.
Lavidacoin is the brainchild of millionaire cosmetics entrepreneur Datuk Seri Dr Hasmida Othman (pic), better known as Dr Vida.
Last month, Bank Negara Malaysia also listed the three same business entities, DSV Crypto Club, LUX Galaxies and VI Profit Galaxy, under its financial consumer alert list.