The former kingpin of the Macau branch of the 14K triad crime organization, Wan Kuok-koi, popularly known as ‘Broken Tooth Koi’, is reportedly associating with the companies behind the new Dragon Coin cryptocurrency, which concluded a USD 320 million initial coin offering (ICO). A picture of him at the signing ceremony between the two companies that created Dragon Coin, Macau Dragon Group and Wi Holding Company, can be found in the South China Morning Post.
Dragon Coin is designed for gamblers and is a lower-fee alternative for high rollers trying to get gambling credit. Additionally, the developers of Dragon Coin say that profits from casinos are funnelled back into the cryptocurrency, making Dragon Coin the first opportunity for investors to get a share of casino profits in Macau.
Creating new cryptocurrencies and selling them was banned along with all cryptocurrency trading in September 2017, but Dragon Coin is getting around this by saying the token is only being issued in Hong Kong. Due to Dragon Coin’s digital nature, it could easily find its way to the rest of China, and Chinese authorities say they will be tracking that.
Beyond the Dragon Coin project, Wan is in charge of the World Hongmen History and Culture Association fraternity, which has been compared to the Freemasons. He plans to issue an official cryptocurrency for the fraternity and to use blockchain technology to advance the fraternity’s goals of spreading Chinese culture.
Wan was deeply involved in the gambling industry during his reign as triad leader, earning millions of dollars annually from casinos. He led a brutal gang war with rival triads, before getting arrested and charged for multiple crimes, including the attempted murder of a police chief.
He was actually arrested during the screening of a movie about himself titled Casino, about a triad leader living the high life in the Macau underworld. He was sentenced to 15 years in prison during a 1999 trial, and convicted of illegal gambling, loan-sharking, and attempted murder. In 2012, Wan was released from prison with plans to re-enter the casino industry and with Dragon Coin, that is exactly what he is doing.
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