Ex-Triad Boss’ ICO Raises $750 Million in Under Five Minutes
Wan Kuok-koi, the former Triad Boss, known as ‘Broken Tooth’ has signed a partnership with a Chinese firm after his HB cryptocurrency raised $750 million within 5 minutes of announcing its ICO.
According to The South China Morning Post, to promote his token, ‘Broken Tooth’ organized a tournament of Chess and Poker with prizes of almost $1.5 Million funded with HB and fiat money.
The tournament will be held in Hainan this October thanks to a partnership between World Hung Mun Investment (Mr. Wan’s investment firm) and Zhonggongxin Cosmos (Beijing) Internet Technology Limited, a Chinese firm with significant capital and investments around the world.
According to primary sources, Wan launched the ICO in Cambodia. Several businessmen, celebrities, and senior officials from China and Hong Kong attended the event.
An Important Support
World Hung Mun Investment, the company created by Mr. Wan, sold 450 Million Hb Tokens at various events held in Cambodia, Thailand, and the Philipines. A new funding round is expected to be held in Malaysia next week where they plan to sell at least another 50 million tokens.
Broken Tooth’s financial ties are of a high level. Zhonggongxin Cosmos is a subsidiary of Zhonggongxin Assets Management Limited, which is involved in various businesses around the world from asset management to construction projects.
According to websites specialized in covering news related to investments in Russia, Zhonggongxin is a company created in 2008, which reports directly to the Advisory Committee on the Management of Financial and Energy Resources and Capital under the State Committee for Capital Oversight Management of the State Council of China. The Zhonggongxin Group has several official investment projects underway with Russia.
A New Beginning?
Despite being in prison for 14 years for conspiracy to import military-grade weaponry, Wan’s influence does not seem to have diminished. The number of top personalities who attended the launch events of his Token is proof of this. Another evidence is the fact that after serving his sentence, a Lexus was waiting for him on his way out of prison
Wan has commented that he does not plan to return to the criminal world, which is even more difficult now that he is a public figure and is getting the attention of the authorities. However, his business decision can be a bit risky. The use of cryptocurrencies is banned in China, and just days ago the Chinese authorities shut down an online betting network that used cryptos to operate on Chinese territory.
The HB Token can be purchased at A.top an Exchange endorsed by Allin Group. Its value at the time of publication of this article is approximately 1.34 USDT or 20.5 ChineseYuan