The UK Financial Supervisory Authority (FCA) has warned users that the Poloniex cryptocurrency exchange, owned by Justin Sun, operates without complying with the law.

The FCA notes that the country's financial laws do not provide adequate protection for traders working on this platform. This warning follows earlier warnings issued by the FCA regarding other cryptocurrency companies, including HTX and KuCoin, also linked to Justin Sun.

The FCA's warning emphasizes that Poloniex promotes financial services and products without the necessary permits, and recommends that customers avoid cooperation with this company.

In addition, it is worth noting that Poloniex, a Seychelles-based company owned by Justin Sun, has recently been the victim of a suspicious hack. An unknown hacker stole significant amounts of money from Poloniex, HTX and HECO, which caused a wide resonance in the cryptocurrency community.

It should also be noted that Justin Sun is in the spotlight due to litigation with the U.S. Securities and Exchange Commission (SEC). He is accused of organizing illegal and unregistered securities offerings through TRX and BTT tokens, as well as illegal trading of these tokens.

Sun claims that he has nothing to do with hacking his own exchanges and denies all charges brought against him by the SEC. The case also came to the attention of the U.S. Senate and prompted accusations of illegal financing and ties to Justin Sun, the TRON Foundation and HTX, which they all denied.