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With Bitcoin down 30% in the past week, some crypto traders have taken to Telegram to “voice” their feelings. “[The defendant] could not shift his criminal liability,” Hui said. Ng, who had pleaded not guilty to all charges, had been detained for more than 20 months. His channel was said to have contained around 120 messages and photos that incited others to vandalise pro-government shops and commit criminal damage targeting police stations. “Hey degen, are you stressed? Just let it all out,” he wrote, along with a link to join the group. For crypto enthusiasts, there was the “gm” app, a self-described “meme app” which only allowed users to greet each other with “gm,” or “good morning,” a common acronym thrown around on Crypto Twitter and Discord. But the gm app was shut down back in September after a hacker reportedly gained access to user data.
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