Gatecoin, one of Hong Kong’s first cryptocurrency exchanges, was ordered to wind up last month, ending six years of a tumultuous business that included losing US$21.4 million in clients’ assets during a May 2016 hacking theft, and having its accounts shut by nine of the city’s banks. Given the nature of how cryptocurrencies are held at cryptocurrency-exchanges, plus the fact that virtual asset trading today remains unregulated, aggrieved investors – Hong Kong residents make up 40 per cent of Gatecoin’s clients – would face a long, challenging liquidation process with a dim recovery outcome, insolvency and legal ... (full story)