Hong Kong crypto exchange allegedly hit by frozen funds

Uproar: An illustration of binance, the worlds biggest crypto exchange. There are calls for broader regulatory oversight in Hong Kong. — Reuters

HONG KONG: Customers of a Hong Kong-based cryptocurrency exchange say they can’t withdraw money or tokens from the bourse, and at least seven have reported the matter to police.

Dozens of clients have been unable to make withdrawals from Coinsuper since late November, based on a review of messages on the firm’s official Telegram chat. Five customers told Bloomberg News that they’d filed police reports after withdrawals were apparently frozen, leaving them unable to retrieve about a combined US$55,000 (RM231,073) of tokens and cash.