Several Huione branches in Cambodia are reportedly experiencing a bank run, which is connected to the U.S. seizure of Chen Zhi’s $2.4 billion worth of Bitcoin.
The situation has raised concerns among customers, prompting many to withdraw their funds from the branches. Reports indicate that this surge in withdrawals is a direct response to the news regarding the seizure of significant cryptocurrency assets.
Customers are reportedly anxious about the stability of the bank following the seizure, leading to a loss of confidence in the institution. The bank run reflects broader fears about the implications of the U.S. government’s actions on local financial institutions.
As the situation develops, it remains unclear how Huione will address the withdrawals and restore customer trust. The bank’s response will be crucial in determining the future of its operations in Cambodia.
