# Guo Wengui / Miles Guo (Ho Wan Kwok): community discussion 095

Community discussion, batch 095 (Mar 27, 2026 – Mar 28, 2026), 1,000 messages, on the Guo Wengui / Miles Guo (Ho Wan Kwok) case. Disagreements emerged over refund and redemption paths, contrasting stablecoins like USDT or USDC against dollar-HEX-HDO conversion processes. Accusations persisted regarding manipulated data, illicit cash-outs, and fabricated police reports. Participants contested entity control, affidavit voluntariness, and attorney conduct across bankruptcy proceedings and Second Circuit document 40. Concurrently, discussions escalated over coordinated public messaging, family safety threats, and strategic expectations surrounding Section 853n and 853i relief petitions.

Firsthand participant accounts and investment experiences, preserved with dates, sources and reply context.

English reading guide and paraphrases; Chinese source messages remain authoritative.

## 退币路径分歧：USDT/USDC直退还是按美元→HEX→HDO

Participants debate whether refunds should be issued directly in stablecoins or through fiat and exchange conversion routes.

- joh***, Mar 27, 2026: joh*** contends that refunds should be demanded in HDO stablecoins comparable to USDT or USDC. [Chinese original](https://mubeitech.com/discussions/messages/qaeefaa8cef3a62046a92)
- joh***, Mar 27, 2026: joh*** argues against returning funds directly in US dollars. [Chinese original](https://mubeitech.com/discussions/messages/q1fafc795f11551a6e9c7)
- joh***, Mar 27, 2026: joh*** points out that HDO is not deployed on a public blockchain or recognized by external exchanges, making it impossible to convert into fiat currency. [Chinese original](https://mubeitech.com/discussions/messages/qfd229efc5c4c6c7d27ce)
## HDO兑付与储备口径争议：公链未上与交易所路径是否可行

Participants question whether HDO can be redeemed off-platform given disputed reserve backing ratios.

- joh***, Mar 27, 2026: joh*** emphasizes that HDO cannot be converted into fiat currency because no exchange recognizes it and it lacks a public blockchain. [Chinese original](https://mubeitech.com/discussions/messages/qfd229efc5c4c6c7d27ce)
- joh***, Mar 27, 2026: joh*** disputes the claimed 1:1 reserve ratio for HDO against the dollar, arguing the true ratio might be 5:1. [Chinese original](https://mubeitech.com/discussions/messages/qfb0f2a2c12acb08324b7)
## “改数据/非法套现”指控与刑事共犯定位成争论焦点

Participants argue over allegations that insiders altered internal ledger data to manipulate trading charts and cash out.

- reb***, Mar 27, 2026: reb*** contends that manipulated HDO was created early on to artificially inflate candlestick charts and execute illicit cash-outs. [Chinese original](https://mubeitech.com/discussions/messages/q1d8004d031189aeba7c0)
- beg***, Mar 27, 2026: beg*** argues that such actors are criminals deserving criminal penalties and asserts that the Department of Justice prosecuted the wrong target. [Chinese original](https://mubeitech.com/discussions/messages/qd19c943c1649dc29e58e)
- reb***, Mar 27, 2026: reb*** remarks that while the defendant's ability to select good allies is questionable, the defendant's propensity for picking bad actors seems unmatched. [Chinese original](https://mubeitech.com/discussions/messages/qf3d81051b741d77713eb)
## 关键人物与控制链条：是否存在幕后接管、是否关联家庭基金

Participants recount past representations concerning bank-like deposits and dispute who served as the true controlling party.

- ntp***, Mar 27, 2026: ntp*** recalls depositing funds because Guo had promised that the Himalaya Exchange would operate like an interest-paying bank, only for outsiders to cash out. [Chinese original](https://mubeitech.com/discussions/messages/q20d11090bccde7be2f8a)
- reb***, Mar 27, 2026: reb*** disputes ownership assertions, contending that the actual controlling figure is Yu Jianmin. [Chinese original](https://mubeitech.com/discussions/messages/qf020d56af3c072407ea7)
- ntp***, Mar 27, 2026: ntp*** asks whether Yu Jianmin served as Guo's family fund manager based on previous recollections. [Chinese original](https://mubeitech.com/discussions/messages/q5242aa7f612174647ca6)
## 法律文书解读分歧：王动议与破产材料使受害人/债权人边界模糊

Participants examine courtroom filings to assess boilerplate claim templates and identify the origins of signed affidavits.

- joh***, Mar 27, 2026: joh*** notes that the Wang motion highlighted standardized submission templates, pointing to two duplicated filings with identical claim amounts. [Chinese original](https://mubeitech.com/discussions/messages/q09245dc10265eb397b9b)
- ntp***, Mar 27, 2026: ntp*** argues that the dynamic was not identification but attraction, asserting that only disreputable actors could bring Guo down. [Chinese original](https://mubeitech.com/discussions/messages/qcbb5bca817bb8c4851f7)
- him***, Mar 27, 2026: him*** contends that the affidavit under discussion is the one referenced in Gair's motion. [Chinese original](https://mubeitech.com/discussions/messages/q19263d656739d4eacf40)
## “报假案”与政治化并行：经济案件说法与国家/中共介入解读冲突

Participants clash over whether false police reporting stemmed from private disputes or state-level coercion.

- spr***, Mar 27, 2026: spr*** questions why anyone would feel compelled to file false police reports in a purely financial case. [Chinese original](https://mubeitech.com/discussions/messages/q9e7998129ab570958253)
- him***, Mar 27, 2026: him*** contends that fraudulent reports can arise even within financial cases. [Chinese original](https://mubeitech.com/discussions/messages/q207f912cb51e1ce0578d)
- spr***, Mar 27, 2026: spr*** argues that the false reports were coerced by sovereign state authority rather than private adversaries, lamenting that defense attorneys failed to establish this political context at trial. [Chinese original](https://mubeitech.com/discussions/messages/q5fe2ba4e753a1361a177)
## 853n/853i阶段被疑为减免安排：真实返款、受害人定位仍未定论

Participants describe using AI models to evaluate remission petitions and debate sequential reliance on 853n and 853i procedures.

- ntp***, Mar 27, 2026: ntp*** describes running the petition through GPT and Gemini, observing that both language models reached comparable assessments. [Chinese original](https://mubeitech.com/discussions/messages/q05c12af80e33336d8a11)
- ntp***, Mar 27, 2026: ntp*** contends that because AI analysis considers success under 853n unlikely, the affidavits are aimed solely at obtaining remission relief. [Chinese original](https://mubeitech.com/discussions/messages/q865fffa6dedd1d7f9071)
- him***, Mar 27, 2026: him*** argues that the strategy is to apply under 853n first and then pivot to 853i if 853n is rejected. [Chinese original](https://mubeitech.com/discussions/messages/qdcfdef41d0a4d6da418a)
## 宣誓书与“代办”机制争议：签署自愿性与个人退路是否被遮蔽

Participants debate whether circulating affidavits is designed to substantiate member voluntariness and defeat fraud conspiracy charges.

- him***, Mar 27, 2026: him*** argues that establishing victim status is secondary to an effort to whitewash the charge of conspiracy to defraud. [Chinese original](https://mubeitech.com/discussions/messages/q8f4e3540436b036ac65e)
- kir***, Mar 27, 2026: kir*** asks how such an effort to clear the fraud charge would actually operate. [Chinese original](https://mubeitech.com/discussions/messages/qe84657e3af3a8c7bd94e)
- him***, Mar 27, 2026: him*** contends that requiring individuals to execute affidavits is intended to demonstrate that their actions were entirely voluntary. [Chinese original](https://mubeitech.com/discussions/messages/qdc59e8f8a6e1ed9debd9)
## 关键证据链与记录缺口：受污染证据、未入record与材料完整性受疑

Participants discuss judicial commentary limiting individualized testimony and question whether evidence of false reporting entered the record.

- kir***, Mar 28, 2026: kir*** recounts Judge Torres stating that an individual participant's personal experiences cannot be generalized across the case. [Chinese original](https://mubeitech.com/discussions/messages/qf0eed07e79a3e78f5bb4)
- kir***, Mar 28, 2026: kir*** remarks that such a judicial limitation is reasonable. [Chinese original](https://mubeitech.com/discussions/messages/q650b60be951fc998397d)
- kir***, Mar 28, 2026: kir*** questions how much evidence of false crime reporting Yongbing Zhang actually possesses and whether Zhang ever formally submitted it. [Chinese original](https://mubeitech.com/discussions/messages/q9f1127f4c88c71f19cac)
## 舆论与传播策略被疑控场：直播、外文贴、网格式发帖引发操控讨论

Participants discuss suspicious surges in foreign-language posts and express skepticism toward future fundraising ventures.

- ntp***, Mar 27, 2026: ntp*** questions who is orchestrating the sudden proliferation of foreign-language social media posts. [Chinese original](https://mubeitech.com/discussions/messages/q9ac052fd872c032197c6)
- xin***, Mar 27, 2026: xin*** asks members whether they would invest in any newly launched projects following a release. [Chinese original](https://mubeitech.com/discussions/messages/q39bd2612f8ada17810ef)
- xin***, Mar 27, 2026: xin*** argues that earlier slogans declaring that everything was just beginning actually signaled the start of debt collection. [Chinese original](https://mubeitech.com/discussions/messages/qfe541c29ab8a42c9c0dc)
## 行动路径分歧：举报纪律、换律师到司法程序选择存在分歧

Participants dispute whether pursuing disciplinary complaints against defense attorneys can alter court outcomes.

- kir***, Mar 28, 2026: kir*** cites Second Circuit document 40 to advocate filing misconduct reports against three current attorneys. [Chinese original](https://mubeitech.com/discussions/messages/qf12655400abfab26451f)
- roy***, Mar 28, 2026: roy*** contends that disciplinary committees only sanction attorney misconduct and cannot docket filings, win cases, or overturn court judgments. [Chinese original](https://mubeitech.com/discussions/messages/qdb2b6b49d6f69cebe784)
- kir***, Mar 28, 2026: kir*** argues that every lawyer representing Guo should be reported for professional misconduct. [Chinese original](https://mubeitech.com/discussions/messages/q932707deb909e174fd84)
## 威胁与安全叙事升级：家人威胁、报复与“不要钱也不要命”交织

Participants recount the personal dangers and family intimidation facing claimants in mainland China.

- joh***, Mar 28, 2026: joh*** recounts the dangerous repercussions suffered by targeted figures and urges domestic supporters to remain inactive as security organs seek victims. [Chinese original](https://mubeitech.com/discussions/messages/q8bb282b822d3b1fb9e38)
- joh***, Mar 28, 2026: joh*** recounts Ava's broadcast warning that mainland victims recover no money while exposing relatives to threats, contrasting this with defiant members unconcerned with personal wealth or safety. [Chinese original](https://mubeitech.com/discussions/messages/q10725aaf894c4918e7d3)
- ntp***, Mar 28, 2026: ntp*** remarks that Ava nevertheless succeeded in following through. [Chinese original](https://mubeitech.com/discussions/messages/q14527519955a3954e800)