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China’s two biggest bitcoin exchanges (Huobi and OKCoin) helped themselves to $150 million in idle client funds
Apparently Huobi and OKCoin invested (read: gambled) with 150M USD of "idle funds" of clients. From the article:
China’s two biggest bitcoin exchanges, Huobi and OKCoin, collectively invested around 1 billion yuan ($150 million) of idle client funds into “wealth management products“—which are often high-yielding and risky—for their own gain, state newswire Xinhua reported on Aug. 17 (link in Chinese), citing an investigation by the People’s Bank of China.
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