Himalaya Exchange (Guo Wengui fraud)
A crypto exchange and 'Himalaya Coin/Dollar' project that was one strand of a >$1B fraud the U.S. DOJ pinned on exiled Chinese businessman Guo Wengui (Miles Guo). A jury convicted Guo in July 2024 on nine counts; prosecutors said ~$262M was raised via the Himalaya Exchange alone.
Also known as: Himalaya Exchange, Himalaya Coin, Himalaya Dollar, HCN, Guo Wengui
Note: Guo Wengui was convicted in July 2024 but, as of this writing, sentencing has been repeatedly adjourned; figures are those alleged/proven by the DOJ.
Summary
The Himalaya Exchange (and its "Himalaya Coin"/"Himalaya Dollar" tokens) was one component of a sprawling fraud orchestrated by Ho Wan Kwok — known as Guo Wengui or "Miles Guo" — alongside financier Kin Ming Je. The U.S. DOJ said Guo solicited more than $1 billion from his online followers across entities including GTV Media, the Himalaya Farm Alliance, G|CLUBS, and the Himalaya Exchange. [1][2]
The crypto component
Prosecutors said roughly $262 million was raised for the Himalaya Exchange cryptocurrency project, part of the broader scheme in which Guo and Je misappropriated hundreds of millions for personal luxuries (a mansion, luxury cars). [1][2]
Outcome
Guo was arrested in March 2023 and, after a seven-week trial, convicted on July 16, 2024 of nine of twelve counts including securities fraud, wire fraud, racketeering, and money laundering. Co-defendant Yanping "Yvette" Wang was sentenced to 120 months and ordered to forfeit $1.4 billion; Je remained at large. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
- Guo WenguiMastermindIndividualsExiled Chinese businessman (also 'Miles Guo'/'Ho Wan Kwok') convicted in July 2024 of orchestrating a >$1B fraud against his online followers, including ~$262M via the Himalaya Exchange crypto project. Sentencing has been repeatedly adjourned.
- Yanping WangCo-conspiratorIndividualsClose associate of Guo Wengui (known as 'Yvette'). For her role in the >$1B fraud she was sentenced to 120 months in prison and ordered to forfeit $1.4 billion.
Sources (2)
- United States v. Ho Wan Kwok (Miles Guo) — case page — U.S. DOJ (SDNY)
- Guo Wengui (overview of conviction) — Wikipedia
See also
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)TokensA 2017–2018 ICO (BCT tokens, ~$30M) for a 'Blockchain Terminal' — a Bloomberg-style crypto trading terminal. The SEC and DOJ said convicted ex-hedge-funder Boaz Manor secretly ran it under a fake identity ('Shaun MacDonald'), using associate Edith Pardo as a front, and lied about the product's adoption.
- Crowd Machine (CMCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.