- Interpol has issued a red notice for ‘Coin Young Master’
- Wong Ching-kit is accused of fraud and theft of HK$3 million
- It discloses his actual background and other fraudulent activities
Interpol has issued a Red Notice to assist Hong Kong authorities in locating Wong Ching-kit, also known as ‘Coin Young Master,’ a cryptocurrency promoter.
What Is Accusions for Wong Ching-kit?
Wong gained attention in 2018 for throwing 6,000 Hong Kong dollars from a rooftop in a promotional stunt, allegedly to promote his File Cash Coin. Although the price of File Cash Coin subsequently fell, the incident was seen as a standard pump-and-dump scheme.
He is now accused of fraud and theft involving 3 million Hong Kong dollars, approximately 384,062 USD, and is under investigation by the Commercial Crime Bureau.
His alleged crimes also include multiple misleading investors about a cryptocurrency mining business related to File Cash Coin.
Wong Ching-kit’s Past
This isn’t Wong’s first encounter with the law. Previously known as Kwan Tsz-kit, he was convicted of theft in 2012 and served 160 hours of community service. He later changed his name to Wong Ching-kit and continued his questionable activities in the cryptocurrency space.
Conclusions
As in any industry, some individuals seek to exploit rather than improve it. This situation reminds us to remain awake and always research the people behind a project and their backgrounds to determine possible hidden motives that may not lead to mutually beneficial development.
