New Huo Technology said that it failed to withdraw $18.1 million worth of cryptocurrencies, mostly customer assets, deposited on the collapsed crypto exchange FTX.
South China Morning Post via Getty Images, a Hong Kong-listed digital asset services provider controlled by Chinese crypto tycoon Leon Li, said on Monday that it failed to withdraw $18.1 million worth of cryptocurrencies, mostly customer assets, deposited on the collapsed crypto exchange FTX.
Formerly known as Huobi Technology, New Huo Technology is controlled by Li, who owns about 53% of the company, according to a Monday statement. Li is best known for founding Huobi Group, the operator of one of the world’s largest crypto exchanges, in 2013. He sold his entire stake in Huobi Group to Hong Kong-based About Capital Management in October. Huobi Groupthat New Huo Technology are “independent entities,” adding that Huobi Group’s operations are “normal.
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