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Based on the information provided, here is a summary in English for a professional journalist and editor who has worked with major news outlets like Xinhua News Agency, People’s Daily, CCTV, Wall Street Journal, New York Times, etc.:


Boss Who Promised ‘Three Lifetimes of Wealth’ Flees with 61,000 Bitcoins

A businessman known for promising investors three lifetimes of wealth has vanished after taking off with 61,000 bitcoins, according to Chinese media reports. The entrepreneur, identified only as Mr. Zhang, was the CEO of a technology company that claimed to specialize in blockchain and cryptocurrency investments.

The scandal came to light in May 2024 when British media reported that Mr. Zhang had fled to the UK with the bitcoins, valued at over 320 million yuan based on current exchange rates. The exact circumstances of his departure and the nature of his investments remain unclear.

Mr. Zhang had previously gained attention in 2016 for participating in a blockchain summit in Beijing, where he was seen wearing a signature red jacket. He was known for his flamboyant lifestyle and high-profile appearances at various events.

According to reports, Mr. Zhang’s company offered investment products that promised high returns. Investors were allegedly lured with plans that included a gradual increase in payouts over time. However, many investors have now come forward to say they have not received the promised returns and are unable to contact Mr. Zhang or his company.

The incident has raised questions about the regulatory oversight of cryptocurrency investments in China. In the past, similar cases of fraudulent investment schemes have led to significant losses for investors, and authorities have been cracking down on such activities.

Investors who fell victim to Mr. Zhang’s scheme are now seeking answers and compensation. The authorities are investigating the case, but no arrests have been made as of yet.

[Note: The details provided are based on the original Chinese text, and further verification may be required for accuracy.]


This summary captures the key points of the incident, including the background of the businessman, the nature of the investment scheme, and the aftermath of his disappearance. It also touches on the broader implications of cryptocurrency regulation in China.


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