I unironically remember looking into this one back in the day, when i was checking most newly posted projects for plagiarism and fraud related stuff....though it looked like a textbook scam with their stablecoin and exchange, i couldn't really prove anything even if i wanted to.
Today, someone mentioned the Himalaya Coin on my Twitter feed...Guo Wengui, the man behind the coin, appears to have been charged and arrested:
"Chinese Businessman With Ties to Steve Bannon Arrested, Charged With Fraud, Including $500M Crypto Scam"source:
https://www.coindesk.com/policy/2023/03/15/chinese-businessman-with-ties-to-steve-bannon-arrested-charged-with-fraud-including-500m-crypto-scam/Guos fourth alleged scheme which the U.S. Securities and Exchange Commission (SEC) said in a separate civil complaint raised $500 million from retail investors was an unrelated crypto venture called H-Coin, or Himalaya Coin. Beginning in October 2021, Guo founded and promoted H-Coin, telling his social media followers that the currency was 20% backed by gold and promising to cover 100% of investment losses attributable to H-Coin.
Four months later, in February 2022, Guo filed for bankruptcy protection, claiming assets valued between $50,000 and $100,000 and liabilities of up to $500 million. Despite his claims of poverty, the Department of Justice (DOJ) announced Wednesday that it seized over $630 million of alleged fraud proceeds from 21 different bank accounts controlled by Guo between September 2022 and March 2023.
and the full Department of Justice press release:
https://www.justice.gov/usao-sdny/pr/ho-wan-kwok-aka-miles-guo-arrested-orchestrating-over-1-billion-dollar-fraud-conspiracy