Jack Ma-Backed Yunfeng Financial Faces Catastrophic Vault Risk in Hong Kong Gold Token Program
Yunfeng Financial Group Ltd., the Hong Kong-listed insurer backed by Jack Ma, has identified catastrophic operational risk in its tokenized gold product on the Yunfeng Youyu platform. The token's entire value rests on verified 1:1 physical gold backing held in Hong Kong vaults. Audit failures, custodian insolvency, or vault breaches could expose the firm to legal liability from token holders.
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