ChainCatcher news, the Hong Kong High Court has ordered key figures involved in the MANTRA DAO project to disclose financial records in response to allegations of asset misappropriation and unauthorized control.The plaintiffs claim that the defendants were initially associated with RioDeFi and siphoned off MANTRA DAO's assets and business, thereby seizing control without proper authorization.Since the defendants were accused of concealing financial reports starting in January 2021, the financial operations of MANTRA DAO have largely remained opaque. The court has instructed that detailed financial spreadsheets and supporting documents be submitted to the plaintiffs' legal and financial advisors.It is reported that Mantra is a layer1 blockchain aimed at launching tokenized real-world assets, and OM is its governance token.

ChainCatcher news reports that a report released by the law firm Hogan Lovells shows that the Hong Kong court has defined cryptocurrency as property that "can be held in trust" in the "Gatecoin-related case." Judge Linda Chan, who presided over the case, stated that Hong Kong, like other common law jurisdictions, has a broad definition of "property" with extensive implications.In 2019, the Hong Kong-based cryptocurrency exchange Gatecoin announced its closure and began liquidation. The report states that the exchange held over HKD 140 million in cryptocurrency as of October 2022. (source link)