WoToken was a mobile app Ponzi scheme launched by Chinese scammers last year.

Last month the scam’s co-founders, Gao Yudong, Li Qibing, Wang Xiaoying and Tian YongBo, were each sentenced by a Chinese court to prison sentences ranging from two years six months to eight years six months.

As
reported by Sina
on November 3rd;

Defendant Gao Yudong committed the crime of organizing and leading pyramid schemes and was sentenced to eight years and six months in prison and a fine of RMB 2 million.

Li Qibing committed the crime of organizing and leading pyramid schemes and was sentenced to seven years in prison and fined RMB 1.5 million;

Wang Xiaoying committed the crime of organizing and leading pyramid schemes and was sentenced to seven years in prison and fined RMB 1.5 million;

Tian Yongbo committed the crime of organizing and leading pyramid schemes and was sentenced to two years and six months in prison and fined RMB 1 million;

Li Guomin committed the crime of concealing criminal proceeds and was sentenced to three years imprisonment, suspended for five years, and fined 100,000 yuan;

Tang Xiaohua committed the crime of harboring and was sentenced to six months’ imprisonment with one year’s probation.

In our own
WoToken review
, some guy going by Edward Wu (aka Edward Ng) was claiming to be WoToken’s founder. He was also the CEO of a shell company called 1WorldBlockahin.

Wu’s LinkedIn profile is still up. 1WorldBlockchain’s website advises the company is
‘undergo(ing) a complete update of all our systems, projects, products’
.

The company’s official Twitter account was abandoned in January 2019.

Whether Wu is one of the jailed co-founders or was a Boris CEO actor remains unclear.

Chinese authorities have established there were 715,249 WoToken affiliate investors. Together, based on the then value of cryptocurrency invested, WoToken victims lost $1.18 billion USD.

Update 7th October 2025 – 
Edward Wu’s LinkedIn profile has been marked private.

🤖 Quick Answer

What was WoToken and what happened to its founders?
WoToken was a mobile application operating as a Ponzi scheme created by Chinese fraudsters. In November, a Chinese court sentenced its four co-founders—Gao Yudong, Li Qibing, Wang Xiaoying, and Tian Yongbo—to prison terms ranging from two and a half to eight and a half years, alongside substantial monetary fines for organizing illegal pyramid schemes.

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