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Hong Kong's Mox Bank Freezes Accounts of Customers Involved in Crypto Transactions

Customers of Mox Bank, an online-only bank in Hong Kong backed by Standard Chartered, have had their accounts frozen due to crypto transactions, leading to complaints on social media. The bank has cited "security considerations" as the reason for the freeze, but has assured customers that their accounts will be unblocked after review.

The Hong Kong Monetary Authority (HKMA) has ordered the bank to follow up on the matter and ensure that customers are not affected. Mox Bank is a digital bank that offers personal accounts, a Mox Card, smart saving earnings features, Mox Credit, and smart borrowing.

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