HomeCrypto NewsExchangesFormer senior manager at Huobi accused of trading...

Former senior manager at Huobi charged with illegal trading

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A former senior manager of cryptocurrency exchange Huobi, is said to be facing charges of secretly making $5 million.

Theo Financial Times report announced this morning, Huobi has filed a civil lawsuit against Chen Boliang, a former senior manager of institutional clients in Hong Kong.

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He allegedly set up a trading account in his father's name and opened a line of credit 20 million dollars, bringing in about $5 million in profits in USDC.

The transactions are believed to have taken place in February and March 2. Boliang was arrested in May 3 and charged with “accessing Huobi’s computer systems for criminal or dishonest purposes and processing the proceeds of crime.”

In a statement, a Huobi spokesperson said: “Mr Boliang Chen's employment at Huobi Global was terminated in May 5. We have no further comment on the allegations against Mr. Boliang Chen and trust Hong Kong's governance.” 

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