City Hong Kong Financial News

Hackers stole around $200 million from crypto firm Mixin early on Saturday, the company said on social media platform X on Monday, in what researchers say is the largest crypto theft so far this year. Mixin, which lists its location on LinkedIn as Hong Kong, said the database of its network's cloud service provider was «attacked by hackers, resulting in the loss of some assets» and that «the funds involved are approximately US$200 million».

The chairman of Hong Kong’s leading journalist group received a five-day jail term after he was found guilty of obstructing a police officer on Monday in a court case that sparked concerns about the city’s declining press freedom

The chairman of Hong Kong’s leading journalist group received a five-day jail term after he was found guilty of obstructing a police officer on Monday in a court case that sparked concerns about the city’s declining press freedom

Speaking about the upcoming Hong Kong Wine & Dine Festival, Mr. Puneet Kumar, Director – South Asia and Middle East, Hong Kong Tourism Board said, “As young and affluent Indian travellers seek immersive holidays, Hong Kong is ready to captivate their senses with global culinary experiences set against its iconic skyline. The return of the Hong Kong Wine & Dine Festival, after a five-year hiatus, marks a momentous occasion in our culinary calendar. It's not just an event; it's a celebration of our rich gastronomic heritage and global flavors. It's an invitation to indulge in the vibrant spirit of the city’s gastronomy and nightlife. We are excited to welcome our international visitors to savor the world's finest flavors, create unforgettable memories and Discover Hong Kong like never before."It’s back: Hong Kong Wine & Dine Festival returns in physical formatTaking place from 26–29 October at Victoria Harbour’s Central Harbourfront Event Space, Hong Kong Wine & Dine Festival 2023 will be a four-day gourmet extravaganza backdropped by the iconic city skyline.

Decentralized peer-to-peer network Mixin Network has lost approximately $200 million in a hack involving the compromise of the database of a third-party cloud service provider.

Hong Kong’s financial watchdog confirmed Monday that it would publish the list of cryptocurrency trading firms that have applied for licenses to operate in the Chinese territory, in the wake of the JPEX scandal.

Hong Kong's financial regulator, the Securities and Futures Commission (SFC) has vowed to step up its efforts to combat unregulated cryptocurrency trading platforms in its jurisdiction

The masterminds behind Hong Kong’s JPEX alleged crypto exchange scandal — referred to by some as the largest financial fraud to ever hit the city — have eluded authorities despite 11 people already being taken in for questioning in relation to the case.

Vedanta Resources' (VRL) bond restructuring plan has met with some resistance from investors seeking better terms. The proposed plan suggests making a 50% upfront payment for the $1 billion January 2024 bond, a 15% payment for the August 2024 bond, and a 10% upfront payment for the March 2025 bonds, with the remaining amounts to be restructured. However, VRL needs the approval of at least two-thirds of the bondholders for this plan to proceed. Initial feedback from investors in Singapore and Hong Kong reveals discomfort with the proposed restructuring, raising the possibility of opposition from a group of bond investors, two bondholder sources said. «A group of bondholders could oppose the proposed restructuring, setting the stage for a potential showdown,» a source said.

According to the recent court filing, FTX, the bankrupt crypto exchange, has filed a lawsuit against former employees of Salameda, a Hong Kong-incorporated entity affiliated with FTX, to recover about $157.3 million.

Bitmain rolled out its next generation Antminer S21 and S21 Hydro ASIC miners at the World Digital Mining Summit in Hong Kong on Sept 22, revealing the crucial performance stats that the entire industry has been waiting for. The S21 has a hasrate at 200 TH/s and an efficiency at 17.5 J/T while the S21 hydro hashes at 335 TH/s and 16 J/T which is notable given that until recently, most Bitcoin ASICS were operating above the 20 J/T level.

Defunct cryptocurrency exchange FTX filed a lawsuit on Sept. 21 against former employees of the Hong Kong-incorporated company Salameda, which was previously affiliated with the FTX group, according to court documents.

The son of jailed Hong Kong media mogul and prominent pro-democracy activist Jimmy Lai says he doesn't want to see his father die in detention, as his lawyers raised the prospect that his long-delayed trial may be pushed back indefinitely

In response to the ongoing HK$1.3 billion scandal in which Hong Kong police have asked telecom service providers to block access to JPEX's website, resulting in the arrest of three additional individuals suspected of conspiracy, JPEX has put forth a new dividend plan for its investors.

By Xie Yu

Hong Kong lawmaker Duncan Chiu has announced the launch of the second round of consultations aimed at formulating stablecoin issuance guidelines.

Troubled Hong Kong crypto exchange JPEX has applied for deregistration in Australia.

Crypto Exchange Bullish, in its strategic pursuit for international expansion, has taken a significant step in applying for a license in Hong Kong, a move that could potentially shape the future of cryptocurrency trading. Digital asset exchange Bullish has a registered office in Gibraltar and has a global presence. Bullish intends to navigate the cryptocurrency market's complex regulatory landscape. 

China's Foreign Ministry has asked all foreign consulates in Hong Kong to provide the personal details of their locally employed staff, as Beijing tightens its control over the semi-autonomous city. The Commissioner's Office of the Foreign Ministry, in a letter seen by The Associated Press, asked the consulates to provide staffers' names, job titles, residential addresses, identity card numbers and travel document numbers «in line with the Vienna Convention on Consular Relations and general international practice.» The letter, dated Monday and addressed to all consulate posts and the Office of the European Union, stated that they should comply with the request by Oct. 18, and that the details of staffers who are employed in the future should be furnished within 15 days. It wasn't clear whether China furnishes details of its staff in foreign missions to other countries. The request comes as Beijing has tightened control over Hong Kong in recent years following its imposition of a sweeping national security law aimed at stamping out dissent. Governments in the West have criticized the law as a dismantling of Hong Kong's political freedoms and civil society.

Hong Kong’s leader has said the territory will tighten regulation of digital assets after police arrested six people following allegations of fraud at an unlicensed cryptocurrency exchange in the city

Hong Kong regulators are looking to tighten the noose around the crypto market after the arrest of six individuals following allegations of fraud around an unlicensed crypto exchange called JPEX.