Is biyapay the company that was robbed of 1.5 billion dollars?

In Tsim Sha Tsui, Hong Kong, there is a highly popular virtual asset exchange shop with continuous customers from mainland China. Whether exchanging cash for USDT or converting digital currencies into Hong Kong dollars or USD, it can be easily achieved. However, one thing to note is that if the transaction amount exceeds 10,000 Hong Kong dollars, an ID card must be presented.
Why do mainland residents have to specifically go to Hong Kong to handle related services when Bank of China (China Bank) is everywhere in mainland China?
In fact, there is a significant difference between Bank of China in mainland China and Bank of China in Hong Kong. The Hong Kong Bank of China is not subject to mainland regulation, and there are no issues with foreign exchange controls, allowing for very free capital movement. It can be used not only for investing in Hong Kong and US stocks but also supports the FPS instant transfer function and can be linked to WeChat as well. Additionally, there are no management fees for Hong Kong Bank of China accounts, and transfers between Hong Kong and mainland China are also free. More importantly, accounts at the Hong Kong Bank of China are not easily frozen.