A supposed Bitcoin millionaire has been arrested in Hong Kong after "Making it rain cash" on the streets, local English-language news outlet the Shanghaiist reported on Dec. 17.On Sunday, a swathe of 100-Hong Kong dollar bills were thrown off a roof in Sham Shui Po, one of the poorest Hong Kong neighborhoods.
Wong Ching-kit, a local cryptocurrency enthusiast, purported Bitcoin millionaire, and entrepreneur who owns the Epoch Cryptocurrency website, is reportedly believed to be responsible for the stunt.
The description of the video details a competition wherein participants can allegedly win large cash prizes.
In another video Ching-kit reportedly describes himself inside a luxury car as some kind of "God" that "Steals from the rich and gives to the poor."
According to Shanghaiist, the man was subsequently arrested by local police, reportedly before performing another publicity stunt.
Shanghaiist reports that he was detained for "Disorderly conduct in a public place" while live-streaming with a stack of cash in his hand.
Leo Weese, a member of the local crypto community, tweeted that Ching-kit is not a Bitcoin millionaire but is instead "Running a pyramid-like scheme." The police reportedly claim to have only recovered 6,000 Hong Kong dollars while "a popular Twitter post claims, unreasonably, that '100's of millions of HKD' was dropped from the rooftop."
The organizers reportedly broke a law prohibiting the use of the image of any past or present leader in promotional activities and television advertisements.
Earlier that same month, a Ukrainian initial coin offering publicity stunt on Mount Everest resulted in the death of a sherpa.
Social network ASKfm sponsored "Crypto enthusiasts" to climb Mount Everest and place a Ledger wallet holding 500,000 in ASKfm tokens at the peak.
Hong Kong: Purported Bitcoin Millionaire Reportedly Arrested After Making It 'Rain Cash'
Published on Dec 19, 2018
by Cointele | Published on Coinage
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