The defrauded investors from Hong Kong that we covered in our crypto news a few days ago, are now asking for refunds from the businessman Wong Ching-kit who lured the investors into a crypto mining scheme.
According to the reports from the South China Morning Post, the investors lost about $25,000 but the sum could potentially turn up to reach $1.2 million.
Wong persuaded the investors to put their money into a bitcoin mining scheme saying that after they buy the equipment to mine digital currency, the investors will make insane profits in a period of three months. The investors agreed after Wong told them they could get their money back after the launch of the coin didn’t make it in time. The Democratic Party announced that more than 20 people sent complaints similar to these ones since October.
One of the investors was quoted as saying:
“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.”
Wong is also the primary suspect in the stunt related to throwing away at least HK$6,000 form a building in the middle of Hong Kong back in December. He did deny the allegations but was actually seen moments before the stunt leaving a car and going to the building after asking people whether they believe that ‘’money could fall from the sky.’’
He also denied the claims of scamming the investors after saying that the investors should always have in mind that there is a slight possibility of losing money in this sector. There isn’t sufficient evidence to prove Wong is guilty but the police will start an investigation into his business practices.
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Bitcoin’s Ability To Bypass Banks Is A Major Issue According To Traders
“China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA. We should MATCH, or continue being the dummies who sit back and politely watch as other countries continue to play their games – as they have for many years!”Bitcoin has been on an incredible journey over the past recent months which has also correlated with the failing dollar during the on-going trade war between China and the United States. Gold also reached a six-year high and now traders don’t really see it as a reliable asset because it could be easily manipulated by the government and the government leaders. As noted in the altcoin news previously, a public blockchain-based banking system would unveil hundreds of shady transactions that are still going on, unfortunately. However, the world is dominated by banking scandals, money manipulation, and trade wars so bitcoin’s ability to bypass banks is another issue that the companies and traders should be aware of. Despite the nature of bitcoin, many still prefer it to fiat.
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