Hong Kong businesses have scope to put cash flow to work to propel growth, expert says

North Korean hackers developed memecoins to obscure funds obtained from the $6.3 billion Binance hack, according to a report by Elliptic. Six tokens were created on the NEAR blockchain and liquidity pools on decentralized exchanges were used to transfer $430,000 of the stolen funds between wallets. However, the tokens saw minimal outside trading and were discarded shortly after their release.

The same method was employed following the $1.5 billion Bybit hack in 2025, with North Korean-linked actors moving at least $24 million through a newly created token on the TRON blockchain. Hong Kong residents are increasingly investing in cryptocurrencies, with Payward's xStocks platform expanding to include tokenized versions of over 200 UK and EU-listed equities.

The platform has processed more than $45 billion in transaction volume and has 550,000 unique holders. Payward plans to include hundreds of Hong Kong-listed equities in the near future, pending the introduction of a new licensing regime for virtual-asset services in the region. Meanwhile, South Korean authorities have proposed allowing crypto exchanges to halt deposits and withdrawals if they suspect a hack, rather than waiting for a confirmed breach.

The regulator is also pushing for 24/7 monitoring, robust cold-wallet storage, and enhanced insurance coverage for exchanges. Nomura Holdings is considering selling its cryptocurrency subsidiary Laser Digital, as losses mount in Europe. Meanwhile, a South Korean crypto firm, Bithumb Asset, has invested $85 million in a luxury resort venture in Hoi An, Vietnam, built by local real estate developer Asia Estate.