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Investors Demand Refund from Hong Kong Millionaire over Crypto Mining Scam

TweetShare Four Hong Kong investors have come out to demand refunds of the capital given to Wong Ching-kit, a businessman who sells Bitcoin mining equipment, after claiming that the 24-year-old crypto promoter scammed them. According to a report on the South China Morning Post (SCMP), the affected investors have suffered losses around HK$20,000 (roughly $25,000)…

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Four Hong Kong buyers have pop out to call for refunds of the capital given to Wong Ching-kit, a businessman who sells Bitcoin mining apparatus, after claiming that the 24-year-old crypto promoter scammed them.

According to a record at the South China Morning Post (SCMP), the affected buyers have suffered losses round HK$20,000 (kind of $25,000) to HK$1 million (round $1.2 million) each and every, shedding round HK$three million in overall within the alleged rip-off.

Wong had reportedly offered a bitcoin mining rip-off to the buyers, advising them to shop for mining apparatus to mine virtual foreign money “filecoin” in alternate for insane income after 3 months. Investors claimed that they have been advised about the potential for refunds if the coin did not release in time, however they’re now reporting that Wong and the foreign money by no means made excellent on any of the refund insurance policies. According to the Democratic Party, over 20 folks have despatched an identical proceedings since remaining October, whilst others have filed police reviews.

One of the buyers used to be quoted via the SCMP announcing:

“At first, I was told I could get a refund if filecoin could not be launched in time, but when we asked for a refund, he used delaying tactics and made different excuses to turn us down.”

The Money-Tossing Stunt

Wong is the main suspect in a stunt which involved the tossing of a minimum of HK$6,000 from the highest of a top upward push within the Hong Kong group of Sham Shui Po again in December 2018.

He denied any involvements within the stunt, however he used to be reported to have stepped out of a automotive locally simply moments earlier than the stunt befell and requested folks in the event that they believed that “money could fall from the sky.” He used to be arrested on a fee of disorderly habits, however he used to be due to this fact launched on bail.

Wong Denies any Wrongdoing

The famously flamboyant Wong got here out previous this week to disclaim the claims of those buyers, announcing that he used to be being unfairly centered and wasn’t in the back of the losses of someone.

Wong claimed that he handiest offered the machines, and that buyers must know that there’s simply as a lot an opportunity of shedding cash as there’s of gaining. Since there was not anything to justify any wrongdoing, the police claimed that they’d introduced an investigation into his industry practices.

He had long gone directly to protect his movements, declaring:

“When they make money, they won’t share their profits with me. But when they lose money, they ask me for money back. When they make money, there is no thank you. When they lose money, they call it a scam.”

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