ICAC charges ex-crypto shop worker over HK$9 million trades
HK01 · 2 SOURCESabout 4 hours ago4 MIN
Summary
Hong Kong’s Independent Commission Against Corruption has charged a former employee of cryptocurrency exchange operator One Trading over allegations that he accepted bribes and secretly diverted customer transactions to wallets supplied by others. The alleged conduct involved cash trades of more than 1.1 million Tether, equivalent to nearly HK$9 million, over about three months.
Key Points
- The defendant is 31-year-old former customer service and operations assistant Hung Pak-hin (洪栢鍁), who worked at One Trading’s Sheung Shui branch at the time of the alleged offences.
- Prosecutors allege that between August and November 2023, he accepted bribes from two men and redirected shop customers’ cryptocurrency trades to wallets they provided.
- ICAC said branch staff were required to use the company’s own cryptocurrency wallet when handling customer transactions, making the alleged diversion a departure from normal procedure.
- The agency alleged Hung received HK$200 for each day on which he facilitated the transactions, while the total trading volume reached more than 1.1 million Tether.
- He faces one count of conspiracy for an agent to accept an advantage under the Prevention of Bribery Ordinance and the Crimes Ordinance, and is due at Fanling Magistrates’ Courts on Friday, October 2.
Why It Matters
The case points to compliance and internal-control risks at physical cryptocurrency exchange shops that handle cash and digital assets at the counter. For Hong Kong customers, the prosecution also underlines that alleged misconduct in crypto-related retail trading is being pursued through existing anti-bribery laws and court processes.