Hong Kong native Wong Ching-kit, known as the “Coin Young Master,” is currently wanted by Interpol for his involvement in a cryptocurrency scam totaling over HK$3 million ($384,310). The International Criminal Police Organization has issued a red notice against Ching-kit, alerting law enforcement worldwide about his alleged crimes in Hong Kong.
Ching-kit has a history of run-ins with the law in Hong Kong. In the past, he changed his name from Kwan Tsz-kit after being convicted of theft and sentenced to community service in 2012. Additionally, he made headlines six years ago for throwing HK$6,000 ($768) from a rooftop, resulting in his arrest for disorderly conduct. Despite these incidents, he gained attention for donating HK$92,000 ($11,785) to provide meals for underprivileged residents in Sham Shui Po district.
While Ching-kit may have tried to win over the public with his charitable actions, he is currently under investigation by the Hong Kong police’s Commercial Crime Bureau for multiple criminal cases. Authorities are also seeking his former associate, Mok Tsun-ting, on charges of money laundering.
The surge in crypto-related crimes in Hong Kong is a growing concern. Recent reports have highlighted cases such as individuals defrauding a businessman of HK$3.11 million ($399,000) with counterfeit banknotes and kidnappers demanding HK$5.15 million in crypto ransom after abducting a child from a shopping mall.
As the crypto industry continues to expand, it is crucial for individuals to remain vigilant and aware of potential scams and fraudulent activities. Authorities are working to crack down on illicit behavior within the crypto space to protect investors and maintain the integrity of the financial system.