Alleged former Macau triad member planning poker and chess tourneys in China

Wan “Broken Tooth” Kuok-koi, allegedly a former triad member from Macau, is reportedly the driving force behind investment firm World Hung Mun, which claims to have recently raised the equivalent of US$750 million in a cryptocurrency titled HB in an initial coin offering across Cambodia, Thailand and the Philippines, with a final launch scheduled for Malaysia soon.

The events were attended by top government officials, celebrities and business people despite doubts on the legality of the currency in China, and Wan reportedly intends to use the proceeds to launch a major tournament company providing chess and poker action in China (another grey legal area, according to experts).

Wan’s company has partnered with a company called Zhonggongxin Cosmos (Beijing) Internet Technology Limited for the tournament project, which will be centred on the holiday resort island of Hainan in China, a region where there has been speculation of government plans for development.

The company specialises in chess and poker tournaments online and claims it has government authorisation for its online and bricks and mortar games halls.

The South China Morning Post reports that Wan’s idea is to make the tournament prizes payable in HB cybercurrency tokens in order to stay within the law. It is understood that there are plans to launch tournament action as early as October this year, with prize pools totalling 10 million yuan.

The newspaper reports that Wan’s HB tokens are traded on an exchange called a.top launched by a Hong Kong company called All In Group Limited, which is headquartered in Wan Chai, and is listed as an electronics store on Google.

Registered in April this year, the group’s sole shareholder is a Beijing company called 3658 Investment and Management Limited, which is a business partner of Zhonggongxin Cosmos.

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