Investing.com – The Hong Kong-listed stocks of PAX Global Technology (HK 🙂 crashed more than 43 percent on Wednesday. The reason for this was a raid by the Federal Bureau of Investigation (FBI) in a warehouse of the Chinese company in Florida.
The FBI told local media that the agency was conducting “a court-cleared search … to advance federal investigations” in collaboration with Homeland Security, the Department of Commerce, local authorities and US Customs.
The cybersecurity website KrebsOnSecurity wrote that investigations are ongoing against PAX as there are indications that its terminals have been used for cyberattacks, Asia reported.
PAX is the third largest provider of electronic payment terminals in the world after the Florida-based company Verifone and the French company Ingenico. Founded in 2000, the company went public in Hong Kong in 2010 and has sold more than 60 million terminals in over 120 countries.
His clients in China include UnionPay, Bank of China, Agricultural Bank of China, Bank of Communications, and China Mobile (HK :).
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