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The Hong Kong Securities and Futures Commission obtained a court order to freeze the 6.35 billion yuan of assets of persons suspected of manipulating Ding Yifeng shares

the Hong Kong Securities and Futures Commission announced that under the legal procedure provided by section 213 of the Securities and Futures Ordinance, the Hong Kong Court of First Instance has issued a temporary injunction against 11 individuals who are suspected of manipulating the shares of Ding Yi Feng Holdings Group International Limited. The relevant individuals are prohibited from transferring any assets within the Hong Kong territory, or disposing of or reducing the value of any assets within the Hong Kong territory, up to a total limit of 6,353,386,915 yuan.

In March of this year, the Shenzhen Office for the Prevention and Disposal of Illegal Fundraising issued a notice through the Shenzhen Local Financial Management Bureau, stating that Ding Yi Feng International Asset Management Group Co., Ltd. was promoting and issuing a DDO digital option within the country, soliciting public subscriptions for investment. This behavior is essentially the issuance and trading of virtual currency, and is considered illegal financial activity. In early 2024, Ding Yi Feng attracted attention due to the inability to redeem its products on a large scale.

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