Author: J1N, Techub News
On November 26 at 14:51, a fire broke out at Hong Fu Court in Tai Po, New Territories, due to scaffolding and flammable protective nets from exterior wall renovation work. Under dry winds and a red fire danger warning, the fire quickly got out of control and spread to seven buildings, resulting in the deadliest single fire incident in Hong Kong's history. As of 20:00 on the 28th, the death toll remained at 94, with 78 injured, many of whom were seriously hurt; over 3,000 residents were urgently evacuated, and multiple units in eight 31-story buildings were severely burned, with initial estimates of direct economic losses exceeding HKD 2 billion.
In the aftermath of the disaster, Hong Kong society almost instinctively mobilized. Charitable organizations set up hotlines, community groups established supply stations in gyms, and locals spontaneously cooked meals to send to shelters. Donations from businesses and institutions began to arrive, as everyone wanted to do something during this difficult time.
Among all the grassroots efforts heading to the disaster area, the cryptocurrency industry was one of the first to respond. In the past 48 hours, donations from within and outside the industry totaled HKD 85.78 million, managed transparently through a multi-signature wallet by local lawyers, notaries, and technical volunteers, with all donation flows traceable on-chain. While these funds are not the central force of rescue efforts, they became one of the earliest forms of aid to reach the disaster area when it was most needed, alongside other charitable channels.
Source: @chaoge_btc
However, as the scale of the aftermath work gradually becomes clear, a practical issue arises: relying solely on existing donation channels and traditional methods is insufficient to cover the future reconstruction costs of billions of HKD. From compensation for the families of the deceased to long-term treatment for the injured, from temporary housing to the comprehensive repair of the eight buildings, and the fire safety upgrades of similar old housing estates across Hong Kong, every aspect requires ongoing funding and resources.
As a result, more voices are calling for the government to consider opening official virtual currency donation channels. Hong Kong is an international city, and many people overseas and throughout the industry chain are paying attention to what is happening here. For them, donating virtual assets is a faster and more convenient way to contribute across borders. After the Hualien earthquake in Taiwan and the Noto earthquake in Japan, official on-chain donation addresses were announced, allowing for unified management and regular disclosures, enabling global goodwill to reach the disaster area most directly. If Hong Kong could reference these experiences and establish a regulated and transparent official channel, it would undoubtedly allow more people who want to help to participate more quickly.
This disaster also serves as a reminder to the entire digital asset industry: our daily discussions should not only revolve around technology and valuation but also encompass the safety, community, and lives in the real world. For the industry, Hong Kong is not an abstract market but a place where thousands of users and practitioners live. Whether it’s exchanges, wallet services, foundations, project teams, or developers and holders working in front of their computers, everyone has the ability to contribute a little during critical moments.
The aftermath work will not be completed immediately due to a single fundraising effort, but a public, transparent, and convenient official donation portal, combined with ongoing support from society and the industry, can allow goodwill to transcend distance and technology, truly reaching those in need.
The fire has been extinguished, but the pain it caused remains.
May the government, society, and all those willing to help stand together at this moment to support those who lost their homes in the flames.
May the deceased rest in peace, may the injured safely overcome their difficulties, and may the residents of Hong Fu Court in Tai Po one day be able to restart their lives in a safer and warmer Hong Kong.
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