A 26-year-old trader in Hong Kong misappropriated 50 million Hong Kong dollars (approximately KRW 9.4 billion) of company funds as margin…

Korean Alpha EN (@korean_alpha_en), Jul 27, 2026, 15:46 UTC

A 26-year-old trader in Hong Kong misappropriated 50 million Hong Kong dollars (approximately KRW 9.4 billion) of company funds as margin, obtained a loan through an institution, and then purchased a Hynix 2x leveraged ETF. As Hynix fell, he suffered a total loss of 150 million Hong Kong dollars (approximately KRW 28.2 billion). Even the time of purchase was just before the July crash, so it went into a death spiral called loan + 2x ETF. Source

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