Founded in 2018, Hoo.com (operated by Hoo Group Limited) was a cryptocurrency exchange that emerged from the merger of OAX and Chaince. The platform aimed to be a comprehensive blockchain asset service provider, offering a wide range of services including spot trading, futures contracts, institutional custody (Hoo Custody), and a launchpad for new projects (Hoo Labs). In mid-2022, the exchange experienced a severe liquidity crisis, leading to the suspension of user withdrawals. Despite attempts to resolve the issues, Hoo.com officially announced the cessation of all trading services on November 18, 2022, and initiated a controversial token-based plan for user asset withdrawals, which was met with widespread user complaints.