We’re currently in a bear market, but an individual that made a good amount of crypto went crazy yesterday evening.
A police spokeswoman said the force had received reports of someone distributing money at Fuk Wa Street, Sham Shui Po, and officers were deployed to the scene.
A Post reporter spotted some HK$100 (US$13) banknotes near the Golden Computer Arcade and officers told people not to pick them up.
What’s going on here?
The man is believed to be the owner of the Epoch Cryptocurrency, a Facebook page that promotes cryptocurrency. He is widely known online as “Coin Young Master” and his real name is Wong Ching-kit.
In a Facebook video posted shortly after the stunt, Wong claimed he was “robbing the rich to help the poor”.
When asked why he did it, Wong paused to think, and said: “Don’t blame it on me, I also don’t know why money could fall from the sky.”
He also asked people watching the video where in the city they would like to see the “strange phenomenon”.
That’s pretty insane if you ask me…
Let’s hear a little bit more about Wong Ching-kit.
The young man has given media interviews under various monikers, promoting investment products, including a HK$27,500 computer he claimed could be used for cryptocurrency mining.
Company search reports showed Wong owns a company called Coin’s Group. The firm was initially called Oscar Holding Group in 2017 but the name was changed on July 3 this year.
Luk said that usually when passers-by pick up lost money and do not report it to the police, they would be breaking the law.
But in this case, as “Coin Young Master” had intended to give out the money, Luk said, those who collected the banknotes did not have dishonest intentions.
To avoid a misunderstanding with the law, Luk suggested people should just ignore the banknotes or hand them in to police.
Now it is actually a crime to throw away money in the streets. In Hong Kong, the maximum penalty for such an offence is a HK$5,000 fine and 12 months in prison.