Man That Organized Money Throwing Stunt Caught Up in Crypto Scam

Hong Kong resident Wong Ching-kit is accused of running a fraudulent crypto mining scheme.

If there’s one thing you shouldn’t do in life, it’s trust a guy that throws money from a building and then tries to sell you something afterward. And yet, that’s exactly what a number of Hong Kong residents appear to have done.

According to the South China Morning Post, a number of residents of the autonomous Chinese Special Administrative Region have complained that Wong Ching-kit conned them out of a total of HKD 3 million ($380,000).

Discover iFX EXPO, Your Gateway to Asian Markets!

Wong, who is only 24, apparently convinced the alleged victims to invest in a cryptocurrency mining scheme. The investors were supposed to be mining ‘Filecoin’ – a cryptocurrency that, if it has even been launched, appears to be totally useless.

“At first, I was told I could get a refund if [Filecoin] could not be launched in time,” one of Wong’s alleged victims said. “But when we asked for a refund, he used delaying tactics and made different excuses to turn us down.”

From cash throwing to crypto scam

Wong achieved a level of fame last month after he organized an event that saw several people throwing thousands of Hong Kong dollars out of high rise buildings in one of the city’s poorest neighborhoods.

Suggested articles

BDSwiss Group Reveals 2020 Expansion Goals During Annual Kickoff MeetingGo to article >>

For his part, Wong appears to have no regrets about the alleged scheme. Writing on his own Facebook page, he rejected the idea that he had scammed anyone, implying that the people complaining were just bitter that they had lost money in an investment.

“I only sell mining machines but am treated as if I have killed people,” he said. “When they make money, there is no thank you. When they make money, they won’t share their profits with me. But when they lose money, they ask me for money back.”

How trustworthy a person Wong really is remains to be seen. He was born Kwan Tsz-kit and changed his name after being convicted of theft back in 2012.

Whatever the case, don’t trust mining equipment salesmen and people that throw money from rooftops.

Got a news tip? Let Us Know