Hong Kong Web3 Daily Must-Read: Resolv Labs Suffered a Vulnerability Attack, $225 Million Liquidated Across the Entire Network in the Past 24 Hours

Summary: Cora, Techub News

Fear & Greed Index: 25 (Fear) Bitcoin Price: $68,091 BTC/ETH Spot ETF Fund Flows (Last Week) Net Inflow of BTC: $95.18 M Net Outflow of ETH: $59.94 M

Hong Kong

BTC/ETH Spot ETF Fund Flows (Last Week) Net Subscription/Redemption: 0 BTC ETH Net Subscription/Redemption: 0 ETH

Hong Kong × Korea Collaboration Upgrade: Web3 Policy Promotion Alliance Preparatory Committee Established and 2026 GWDC Korea Launch

Hong Kong-Korea “Web3 Policy Promotion Alliance Preparatory Committee Establishment and 2026 GWDC Korea Launch Conference” will be held online on March 23 (Monday) at 14:00 (UTC+8). The event will be conducted via Zoom, with bilingual Chinese-English live interpretation, open to Web3 enthusiasts worldwide.

Chan Mo-po: Hong Kong Promotes “AI+” and “Finance+” Development Strategies to Foster Mutual Growth

Hong Kong Financial Secretary Chan Mo-po published a column. He stated that Hong Kong is promoting development strategies of “AI+” and “Finance+” to foster mutual growth. The development and application of open-source AI frameworks will help Hong Kong attract global talent and technology. Regarding hardware foundations, RISC-V instruction set is seen as the future mainstream. Last week, Hong Kong Investment Management Ltd., together with leading industry enterprises and institutions, officially established the RISC-V Alliance to accelerate industry and ecosystem development and promote international collaboration. Additionally, Agentic AI has recently become a hot topic; Cyberport will hold its first AI Agent Innovation and Security Forum this week to discuss ensuring application safety and thriving development.

Hong Kong Securities and Futures Professionals Association President: Disputes Over Brokerage Account Quotas Should Not Copy Virtual Asset Regulation Models

Chen Zhihua, President of the Hong Kong Securities and Futures Professionals Association, commented on the dispute over “pre-registration of designated bank accounts” for brokerage clients. Although the regulator’s circular proposed establishing a bank account registration mechanism with limits, this approach may stem from inappropriately applying virtual asset regulation ideas (such as pre-approval of wallet addresses) to traditional securities. Chen pointed out that virtual assets are difficult to verify ownership instantly on blockchain addresses, requiring pre-approval for technical reasons. In contrast, traditional securities transactions can be verified through mechanisms like “same-name account verification,” making account quantity restrictions unnecessary. Compared to the EU anti-money laundering framework, regulators should focus on penetrating beneficial ownership and identifying suspicious transactions, rather than pre-emptively limiting accounts. They should also adhere to a “risk-based” approach, focusing on abnormal fund flows (such as “layered transactions”), clarifying compliance standards for same-name accounts, and promoting big data and AI in AML monitoring.

Selected Hong Kong March Events in 2026

We have curated key crypto events in Hong Kong for March, which will open a window to the Web3 future.

Regulation / Macro

US SEC and CFTC jointly release interpretive guidelines for crypto assets, effective next Monday

The interpretive guidelines for crypto assets jointly issued by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) were officially published in the Federal Register on March 20. They are expected to take effect immediately upon release on March 23 (next Monday), providing direct, actionable regulatory guidance for market participants.

Insiders: Brazil’s new Finance Minister to delay crypto tax rules before elections

Brazil’s new Finance Minister Dario Durigan plans to adjust the ministry’s communication strategy before the upcoming elections and postpone tax measures including crypto taxation rules. Insiders say Durigan took office last Friday, succeeding Fernando Haddad, who resigned to run for governor of São Paulo. He intends to prioritize microeconomic legislation and delay controversial fiscal plans to avoid losing political capital in Congress.

US CFTC refines crypto collateral rules: Bitcoin and Ethereum collateral requirements at 20%, stablecoins at 2%

The US Commodity Futures Trading Commission (CFTC) provided more details on its expectations for using cryptocurrencies as collateral. In a notice issued Friday, the Market Participants and Clearing & Risk Divisions responded to common questions from staff letters published last December.

South Korea NTS plans to select private virtual asset custodians in H1 2026

South Korea’s National Tax Service (NTS) plans to select private virtual asset custodians by the first half of 2026 to manage seized virtual assets. This follows a recent theft incident where a mnemonic phrase was leaked during a seizure operation, leading to two thefts of seized assets. When choosing service providers, the NTS will focus on security requirements, company size, and insurance coverage under the Virtual Asset User Protection Act.

US SEC extends decision deadline for Nasdaq Bitcoin Index Options listing

According to the SEC website, the agency has decided to extend the processing period for Nasdaq PHLX’s proposed rule change to list and trade Nasdaq Bitcoin Index options. The initial proposal was submitted on September 23, 2025, and the SEC began review in December 2025. The final decision deadline has been postponed from March 28, 2026, to May 27, 2026. The SEC states this extension ensures sufficient time to review the proposal and public comments.

US CFTC releases crypto and blockchain FAQ, clarifies FCM can accept BTC, ETH, and stablecoins as margin

The CFTC’s FAQ clarifies that futures commission merchants (FCMs), relying on Staff Letter 26-05, can accept non-security crypto assets (including stablecoins, Bitcoin, and Ethereum) as margin from clients and to secure debit or deficit accounts. In line with SEC standards, the capital deduction rates are 20% for Bitcoin and Ethereum, and 2% for stablecoins.

Projects / Company Updates

Resolv Labs confirms breach, suspends all protocol functions

Resolv announced that their platform was attacked, with attackers minting 50 million unsupported USR tokens. The team has paused all protocol functions to prevent further malicious activity and is actively working on recovery.

Nevada court issues temporary restraining order against Kalshi for 14 days

Nevada’s Carson City District Court Judge Jason Woodbury issued a temporary restraining order supporting the Nevada Gaming Control Board’s motion, prohibiting Kalshi from operating in the state for 14 days. Woodbury believes the company’s activity contracts may violate Nevada gambling laws. Nevada Gaming Control Board Chair Mike Dreitzer stated, “If prediction markets promote unlicensed gambling, they are illegal in Nevada, and we have a legal obligation to protect the public.” A hearing is scheduled for April 3 to review the preliminary injunction.

BONK.fun: Estimated customer losses of $30,000, with 110% compensation

BONK.fun tweeted that on March 11, their website was hijacked by attackers who used social engineering targeting the domain registrar, resulting in domain transfer to an external registrar. After discovering the breach, the team disabled the website, coordinated with wallet providers, marked the domain as malicious, and minimized user impact. They estimate customer losses at $30,000 and will compensate at 110%. The domain was fully restored around 5:00 AM on March 19, and full functionality with major wallet providers was restored later that evening. The main domain remains flagged by several antivirus vendors, and the team is working to clear these warnings.

Deep & Forward-looking

The Great Escape: Dubai Crypto Entrepreneurs Under Missile Attacks

Two guests discussed how war impacts local safety and market sentiment, including damage from intercepting debris during attacks on urban areas, differing responses of long-term residents and short-term expatriates, and the reevaluation of safe-haven narratives like real estate, gold, oil, stablecoins, and Bitcoin amid conflict.

In the Name of AI, Firing Employees: An Amplified “Battle Royale”

As effective accelerationism becomes Silicon Valley’s guiding principle, AI’s rapid evolution fuels a wave of layoffs. From tech giants in Silicon Valley to Chinese giants, from traditional finance to crypto markets, AI panic seems to be escalating.

Opinions

The Arrival of the AI Era: Will World, Focused on AI Identity, Be the Next “Ten-Bagger”?

In summary, we see WLD as a high-risk, high-reward project with potential to become a “ten-bagger.” We traded this asset last summer and exited with a 53% profit in September. Currently, WLD is on our watchlist.

Tokenization: Who Truly Benefits?

For decades, retail investors have been systematically excluded from high-yield assets. Not because assets are too complex, but because the traditional financial system is designed for large sums, qualified investors, and inefficient clearing. Small investments are simply not cost-effective. Tokenization not only lowers the barrier but effectively dismantles the entire system that creates it.