Interpol hunts crypto pair

Stacy Shi

Interpol has issued red notices for the arrest of Hong Kong cryptocurrency promoter Wong Ching-kit - better known as "Coin Young Master" - and his assistant Mok Tsun-ting.

According to Interpol's website, Wong, 30, is involved in three charges - one count of fraud and two counts of theft.

A red notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender or similar legal action.

It is believed that Wong is wanted in relation to a mine machine fraud case in 2019, while Mok is linked to the JPEX cryptocurrency platform fraud case and was previously arrested by Hong Kong police last year.

Mok, 26, is also on the wanted list, involved in two charges of money laundering.

On December 15, 2018, banknotes were scattered from a rooftop opposite Golden Computer Arcade in Sham Shui Po, prompting some 300 people to scramble after the money.

Wong then livestreamed the chaos on social media to promote a cryptocurrency.

Wong was arrested the next day when he drove up in his orange Lamborghini with a pile of HK$500 notes and began distributing them in Sham Shui Po.

He was later charged with committing nuisance in public places.

Wong pleaded guilty at West Kowloon Magistrates' Courts on July 19, 2019, but denied it was his idea to throw the money from the rooftop, claiming he was only doing so as required by his company. He was eventually sentenced to 10 days in prison, suspended for 12 months.

In 2019, Wong and Mok were allegedly involved in a mining machine fraud case involving HK$3 million.

Wong claimed the machine could mine Filecoins which would then be launched in June 2019.

But some buyers who lost money reported they were scammed as the Filecoin website announced that the earliest date for the launch was the second quarter that year.

After investigation, police arrested Wong and Mok on suspicion of conspiracy to defraud, alleging that they had made false claims about returns through investment seminars and on social media to lure victims into buying the machines.

Police subsequently froze HK$5 million of their assets.

Last year, Wong, who aggressively promoted JPEX on YouTube, said he would not mention the platform after the Securities and Futures Commission warned the public it was an unlicensed cryptocurrency trading platform.

Mok was arrested last September.

In addition, sources said police believed that Mok is related to the Australian-registered company JP-EX Crypto Asset Platform Pty Ltd and suspect he is the key figure behind the JPEX fraud case.

Lawmaker Ng Kit-chong said the issuance of a wanted notice might mean "police must have secured certain evidence in the past year's investigation."

He believes the development of blockchain will also enable police to trace funds.

As of April, police arrested 72 people related to JPEX in a case involving over HK$1.61 billion and more than 2,600 victims.

stacy.shi@singtaonewscorp.com