“The Board anticipates that the financial performance of the Group might be materially and adversely affected in the event that the Incident is not resolved,” New Huo warned, adding its normal business operations will not be affected.
For the six months that ended March 31, New Huo’s suffered a net loss of HK$47.79 million, compared to a net profit of HK$54.1 million in the same period one year earlier, although its revenue grew by 34 percent year-on-year to HK$351.8 million, according to the company’sIn Singapore, New Huo has applied to the Monetary Authority of Singapore for a digital asset activity licence to provide services including digital payment token services, said the company’s 2022 interim report.
“As widely reported, unauthorized access to certain assets has occurred. An active fact review and mitigation exercise was initiated immediately in response. We have been in contact with, and are coordinating with law enforcement and relevant regulators,” said Ray’s statement. Only 24 hours after filing for Chapter 11 bankruptcy in the US on Nov 11, US$477 million was moved out of FTX in a suspected theft,
Elliptic Connect, a provider of crypto compliance solutions with offices in Singapore, London, New York and Tokyo.Send in your scoops to news@theindependent.sg