A popular personality in the Asian criminal circles, Wan Kuok-koi, has released his own digital currency, called HB cryptocurrency. The token sale has raised an unbelievable sum of $750 million in a matter of minutes.
Since ICOs are officially forbidden on the territory of mainland China, the event took place in Cambodia and was attended by the most prominent representatives of the industry from Asian countries. The next two stops of the ICO were Philippines and Thailand.
However, only 50% went for public sale out of the total token issue (1 billion). The other half was allocated for other purposes.
It became known that “Broken Tooth” (nickname of Wan Kuok-koi) cooperated with a Chinese company Zhonggongxin Cosmos in order to finance poker and chess competitions.
The winners of the tournament that will be held in Hainan this October will receive prizes in HB coins.
According to Wan:
“We may pay the prize in half cash, half HB, the big bosses from both sides would release details later.”
Neither Wan’s company, nor their Beijing partners have disclosed anything yet. Even though the representatives claim that all their intentions comply with the Chinese law, it still raises suspicions among the community due to the fact that cryptocurrency in China currently has a very shady status.
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