China metals losses top $144 million after counterparty Xu Maohua vanishes
Feb 2, 2026
< 1 min read
by Jai Hamid
for CryptoPolitan

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Precious metals traders tied to China’s vast supply chain are staring at losses of at least 1 billion yuan, or $144 million, after a key counterparty disappeared and left contracts unfinished. The center of the mess is Xu Maohua, a metals dealer known across China’s trading circles as The Hat. He vanished after years of […]