There are trust institutions involved in 500 million US dollar fraud case, cryptocurrency tycoon Sun Yuchen believes that it is a problem in Hong Kong's system. Chairperson of the Legislative Council Web3 and Virtual Asset Development Subcommittee, Wu Kit-chuang, said that Hong Kong is actively attracting foreign capital, including mainland funds, but in fact many foreign friends have a very shallow understanding of Hong Kong's system, and even a lot of misunderstandings. They think this is a problem to be faced up. It is expected that the incident will have an impact on the international community. It is necessary to re-examine different regulatory systems as soon as possible to respond to society. Due to the absence of a custodial regulatory system in Hong Kong, Web3 companies often use trust companies as a basis to assist third-party custodial assets. If this is done formally, it is no problem. However, those who are interested in using this gap to do illegal things are worried that the outside world will have confidence in Hong Kong's financial center. Therefore, it is recommended to do more publicity and education and check whether there is room for optimization.