Regulation· ★★★· bearish·

Hong Kong: Ex-Cyberport director charged in HK$20M grant corruption case

  • —Six people charged, including former Cyberport director Su Yali
  • —Alleged bribes included air tickets, designer bags and a smartphone from vendor Find Solution
  • —At least 400 falsified applications worth about HK$20 million
  • —Funds came from an SME digital-transformation scheme, not Web3 grants
Why it matters: The case damages the reputation of Hong Kong's flagship Web3 hub, home to roughly 330 blockchain firms including HashKey and HKVAX.
Source: 動區 BlockTempo
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