Starting with Bitcoin's 30-fold profit, Luo Yonghao's past disputes with the coin industry

Lo Wing-ho returned to X after a lapse of 6 years.

On May 13, Beijing time, Luo Yonghao announced his return by posting “Test it” on his old and new X accounts at the same time.

The update of Lo Wing-ho's new X account was limited to June 2020. This time, he launched his old account “Suddenly Remembering My Password in the Middle of the Night”. The cover of the account was changed to the logo of the “Lo Wing-ho's Crossroads” podcast, and the new tweets also include some past podcast programs.

However, compared to the podcast, Lo Wing-ho's own speech was clearly more effective in the program. Since the official launch of the new account, Lo Wing-ho has gone back and forth with “people in the coin industry” quite a bit. Currently, the account's top tweets are still reminding everyone not to be scammed by virtual currency under his own banner.

X can be described as the “base camp” of the Web3 industry, and Lo Wing-ho's return will inevitably have to face up with active people in the cryptocurrency industry. But if we talk about Lo Wing-ho's relationship with Web3, it probably dates back 8 years.

2017 and 2018 coincided with the “ICO frenzy” in the coin industry, and it is also recognized that the first round of token wealth effects exploded. Lo Wing-ho also said on X that if he were shameless, the money he earned at the time was enough to buy an island. “At that time, many crooks came to me and said that I didn't need to stand on the platform. As long as I didn't stand up and publicly deny it, they would give me as much as I wanted.”

In May 2018, Luo Yonghao complained on Weibo that Wang Qianchuang, a front-line programmer at Hammer Technology, “didn't earn much money by trading coins all day long,” and stated that he had invested more than 1 million in Bitcoin in his early years and had already risen to more than 30 million when he posted on Weibo. According to reports from the Observer Network, Wang Qianchuang has always been fascinated by coin trading, which has caused Luo Yonghao's dissatisfaction, which is why he made such a statement.

This is also the first time that Lo Wing-ho has publicly mentioned crypto-related content on social media, but his first public opinion on blockchain was to participate in the “10 Questions Wang Feng” in late May 2018.

At that event, Lo Wing-ho expressed his firm belief that blockchain technology can change the world, and Hammer Technology has also been actively researching and learning about related applications. When asked about blockchain phones, Luo Yonghao even bluntly stated, “Blockchain phones will definitely do it; it's not easy to talk about the details.”

Furthermore, Luo Yonghao revealed that he “followed his friends” in Bitcoin in the early days of working at Hammer Technology, which later rose to more than 30 million yuan. “I don't like speculative business, so I won't spend my energy trading on coins, and I won't consider doing an ICO until the relevant national policies are officially introduced.”

Outsiders generally speculate that Lo Wing-ho's so-called “friend” is probably Li Xiaolai, who worked as an English teacher at New Oriental with Lo Wing-ho in the early days, and later became famous overnight in 2017 because of Bitcoin. According to public information, Luo Yonghao joined Mixin's affiliate Feigman (Beijing) Technology Co., Ltd. in 2016, and in addition to founder Feng Xiaodong, the shareholders of this company are Luo Yonghao's friend Li Xiaolai.

In February 2023, Lo Wing-ho stepped down as a shareholder. Mixin was hacked in September of the same year, and losses amounted to $200 million. Having reaped 30 times the profit on Bitcoin and withdrew before the project was attacked, Lo Wing-ho's investment in the Web3 industry cannot be described as unsuccessful.

Luo Yonghao, who successfully invested in Bitcoin, was not as good as expected in terms of the company's operations. At the end of the same year as participating in “Wang Feng's Ten Questions”, it was reported that Hammer Technology had broken its capital chain, defaulted on payments to suppliers, and continued layoffs and disputes. The situation did not improve the following year. In November 2019, Luo Yonghao posted a microblog stating that he was on the court's restricted consumption list and published an article entitled “Confessions of an “Old Lai” CEO.

At the time, discussions about Lo Wing-ho were in full swing on the Internet, and popular people in the Weibo community were not prepared to let go of this wave of traffic.

Sun Yuchen was the first to “attack” and expressed his willingness to hire Luo Yonghao as Tron's entrepreneurial spirit ambassador with an annual salary of one million. If the results are good, he is willing to continue to invest 10 million more in the future. A few days ago, Luo Yonghao also said on X that the offer offered by Sun Yuchen at the time was “the most stubborn” of the few companies that threw olive branches.

At the time, OKEx Chief Strategy Officer Xu Kun also posted on Weibo that he hoped to invite Lo Wing-ho to join OKEx.

Faced with these invitations, Lo Wing-ho responded in the early hours of the morning: “Thanks to my friends in the coin industry, they look up to me, but I can issue coins myself. I just don't plan to do it. No matter what, thank you for your kindness.”

After more than 6 years of “zero distance contact” with the coin industry, our “Lao Luo” is back on Twitter. Faced with this familiar and unfamiliar environment, his statement even made many people doubt that Lo Wing-ho himself was not behind this account. Perhaps many people still have the impression that Lao Luo was unobtrusive and aggressive, but perhaps over time, Lo Wing-ho's style has also changed. Just like the 2017 coin industry and 2026's Web3 are completely different.

In any case, on the X platform, Lo Wing-ho will inevitably face the magic of the coin industry in the future. Lao Luo, who has always been jealous, will come up with a new story about what kind of new story he once loved and hated after being away from Web3 for almost 7 years.