// STARTUP AUTOPSIES · COUNTRY

Startup Failures in Hong Kong

8 startup autopsies from Hong Kong. Each includes the exact cause of failure, verified financial data, and the documented failure pattern.

8 autopsies · newest deaths first

Amber Group

fintechHong Kong2023

The crypto trading and yield platform that reached a $3 billion valuation with Temasek and Tiger Global backing — then sold its consumer-facing business WhaleFin for $30 million during the 2022 bear market implosion

Mass Layoff Spiral

AAX Exchange

cryptoHong Kong2022

Hong Kong crypto exchange backed by NYSE technology halted withdrawals in November 2022 claiming a "system upgrade"—then its executives vanished and $60M in user funds disappeared.

Sudden Collapse

Babel Finance

cryptoHong Kong2022

The Hong Kong crypto prime broker that lost $280M of client funds in proprietary trading

Fraud Explosion

Finblox

cryptoHong Kong2022

The crypto yield platform backed by Sequoia that hit withdrawal limits when Three Arrows Capital collapsed

Sudden Collapse

Tink Labs

travelHong Kong2019

Supplied free smartphones to hotel guests to eliminate roaming charges and drive hotel service discovery.

Sudden Collapse

HongKongFin2

fintechHong Kong

Hong Kong's neobank that the National Security Law and Ant Financial both defeated

Slow Death

HongKongAI

aiHong Kong

Hong Kong's fintech AI startup that the National Security Law made too risky for its own investors

Slow Death

TradeRobot

fintechHong Kong

Hong Kong AI trading platform killed by SFC regulatory tightening and NSL political uncertainty

Regulatory Kill

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Startup Failures in Hong Kong

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