A global manhunt is under way for a Hong Kong cryptocurrency promoter and his associate, whose names were placed on Interpol’s wanted list on Wednesday. But how did the 30-year-old go from a swimming instructor to allegedly one of the city’s biggest crypto scammers?
Wong Ching-kit, known as “Coin Young Master”, is wanted for one count of fraud and two counts of theft in Hong Kong. His associate, Mok Tsun-ting, 26, is wanted for two counts of money laundering.
Shrouded in controversy, the “Coin Young Master” has been known for his flamboyance and legal entanglements.
Wong was one of the influencers promoting the JPEX cryptocurrency trading platform, which was behind the city’s biggest-ever alleged financial fraud involving HK$1.43 billion (US$183 million).
He removed all the relevant YouTube videos after the authorities ordered influencers to cease promoting the platform.
His associate Mok, meanwhile, was arrested in September last year in connection with the JPEX case for his suspected link with “JP-EX Crypto Asset Platform Pty”.
Mok was later released on bail.
Wong rose to fame in 2018 when he allegedly threw more than HK$6,000 in cash from a rooftop in Sham Shui Po as a stunt, sending bystanders into a frenzy.
He denied any involvement but was seen stepping out of his HK$6.2 million Lamborghini moments before notes fluttered off the building, asking onlookers if they “believe money will fall from the sky”.
The Lamborghini displayed the logo of a cryptocurrency he was involved in promoting.
He was subsequently arrested on suspicion of disorderly conduct in public and granted bail. Several days later, he gave HK$92,000 to a restaurant in Sham Shui Po to serve more than 3,800 meal boxes to underprivileged residents.
Wong was later given a suspended jail sentence for the case.
In 2019, he was arrested again on suspicion of conspiracy to defraud after allegedly selling high-powered computers known as “cryptocurrency mining machines” to investors, with more than a dozen claiming they were conned out of HK$3 million.
He was also suspected of making numerous false claims at seminars and on social media, misleading investors into buying mining equipment for the digital currency “filecoin”, which was later found to be not tradeable on the market.
Wong, who was born Kwan Tsz-kit and previously worked as a swimming instructor, was convicted of theft and sentenced to 160 hours of community service in 2012. He changed his name afterwards.
