OK I read mandarin / chinese. Most of those angel investors (initial) are legit! Co-founders are legit too! The rest of the chinese nationals, I have no input on but believe to be their recruits towards walton RFID development. ICO dispute and refunded to public investors due to China ICO Ban.
Sina Blog on Walton updates (last update @ 24/8) : http://blog.sina.com.cn/u/6277713943 I do agree the Tee shirt is not professional; you know it's cheap design and printing cost for such tee shirt in China! New company wanna keep all budget low maybe?
Though the site doesn't have any english translation, Blog running on Sina is a bit messy without flash 10 plugins, but most of the development updates are fine! Not much news update though.