ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Cryptocurrencies

Hong Kong crypto platforms freeze accounts as turmoil deepens

Digital currency markets in free fall after key unit's collapse sparked sell-off

Hoo.com is one of three Hong Kong cryptocurrency platforms that have suspended client transactions amid severe turmoil in digital asset markets. (Nikkei screen shot)

HONG KONG -- A trio of Hong Kong cryptocurrency platforms have suspended client withdrawals on the back of a global sell-off that has plunged the digital currency sector into turmoil. 

On Sunday, crypto trading exchange Hoo.com announced it was stopping all transactions after being hit by a heavy volume of redemption requests, just days following the collapse of Singapore-based crypto hedge fund Three Arrows Capital.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more