Hong Kong media: Former Huobi senior manager acquitted in case involving the transfer of nearly 5 million USDT

Chen Bailiang, a former senior manager at Huobi Group, was accused of using an alias to open a personal account on the platform and illegally conducting cryptocurrency "dark pool trading" with no price or quantity restrictions. He was also accused of transferring approximately 4.999 million USDT (about HK$39.18 million) from his account to his accounts on OKX and Binance, involving seven charges including dishonest access to a computer and money laundering. After deliberation, a Hong Kong High Court jury acquitted him on all charges on April 24. The prosecution alleged that he used the identity "Chen Feng" to complete real-name authentication in 2020 and used this account to conduct dark pool trading with company accounts, but the jury ultimately did not accept these charges, and the court granted the defendant's application for legal costs. (HK01)