The public often deems cryptocurrency enthusiasts as a bit nutty. Bitcoin is an abstract concept to them that usually have little-to-zero intrinsic value, and altcoins are not any better. On Saturday, the negative conjectures of the public towards the cryptosphere were confirmed after a Hong Kong Bitcoin wiz threw millions of Hong Kong dollars (HKD) onto the crowd in an obvious publicity scheme.
A hooded man was reportedly spotted around Sham Shui Po and Fuk Wa Street on Saturday night. The person was said to be the serial crypto businessperson, Wong Ching-kit. He purportedly started dispensing millions of HKD onto the public. The police reportedly told the crowd to not get the cash, but the public scrambled to pick up the seemingly endless stream of money.
Initially, the reason for and who was behind such act of charity was not made clear. However, locals discovered a video of Wong Ching-kit speaking to his followers on Facebook after the stunt. Wong admitted that he was “robbing the rich to help the poor.” Self-proclaimed “China crypto insider” Mia Tam said the crazed person claimed he “feels as if he is a god,” adding that he is responsible to “teach the world about Bitcoin.”
At first, the stunt had seemingly paid off, with the local media praising Wong for helping the underprivileged demographic in the region. However, Hong Kong-based Bitcoin enthusiast Leo Weese divulged in a Twitter thread that Wong had a more than checkered history. According to Weese, he is popular in the local cryptocurrency ecosystem for leading a “pyramid-like scheme,” before criticizing local publications for glorifying an alleged criminal. Supporting his claim with some facts, Weese garnered attention to a report that showed he was connected with the “London Golden Scam.”
Wong was arrested for “disorderly conduct in a public place,” as per Channel NewsAsia. Several crypto savants still see the value in charity. Coinbase previously gifted Syrian refugees with $10,000 worth of BTC. In the days prior, it donated the same dollar sum in ZCash to Venezuelan families.