- Senior managers at the company have been subpoenaed by law enforcement.
- The alleged criminal misconduct of a former employee has led to authorities freezing some of Hotbit’s funds.
- The firm has suspended trading, deposits and withdrawals with no timeframe in place for resumption.
Hotbit, one of Asia’s leading cryptocurrency exchanges, is in hot water after several of its senior managers have been subpoenaed by law enforcement following the freezing of some company funds.
This comes as an ex-employee of the company, who left in April this year, had involvement in an external project that might have violated criminal laws.