Author: Ma He, Foresight News

If this story were to be made into a drama, it would definitely be a highly controversial melodramatic family suspense film at the beginning of 2026— the main character is not just any ordinary person, but the well-known financial KOL in Hong Kong, Huo Liao Sen, whose real name is Yuan Binghui, once dubbed "the Young Stock God."

He made his fortune in his early years through stock trading and Bitcoin. The radio program "Starfire in the Wilderness" was immensely popular among countless Hongkongers, and he published an investment book titled "I Borrowed My First Ten Million from Buffett."

However, no one expected that a recent lawsuit would expose the most melodramatic family drama.

The Partner's Hidden Camera Stole BTC

In 2023, Huo Liao Sen's divorce case reached the High Court in the UK. He accused his partner, his separated wife Li Huanyong, and her sister of secretly installing hidden cameras in their luxurious house in Brighton, UK, capturing the entire process of him entering the cold wallet PIN and storing the mnemonic phrases, which directly led to the transfer of 2323 BTC.

This case recently sparked heated discussions among netizens in Hong Kong and other regions after being reported by the Hong Kong "Sing Tao Daily," "Hong Kong Economic Journal," and the UK "Daily Mail," "The Times."

The incident can be traced back to 2023. At that time, Huo Liao Sen and Li Huanyong were in the midst of a divorce, and in early July, the catalyst was their eldest daughter. She privately informed Huo Liao Sen that her mother might be planning to access Bitcoin.

Huo Liao Sen became cautious and did not confront her directly; instead, he quietly installed recording devices at home to gather evidence.

According to court documents, conversations between Li Huanyong and her sister were recorded verbatim. Li Huanyong said, "The Bitcoin has already been transferred to me, but will anyone find out it was you who took it?"

A more crucial and incriminating dialogue followed: "It's fine, just take everything."

They also discussed money laundering risks, using a second wallet, and whether they would be under police scrutiny... These conversations later became key evidence in court.

In his testimony submitted to the court, Huo Liao Sen explicitly stated that Li Huanyong secretly installed hidden cameras in the luxurious home, specifically to record him operating the Trezor cold wallet.

The cold wallet was not connected to the internet and was protected by a 6-digit PIN. The key was a 24-word mnemonic. As long as someone has the mnemonic, they can restore the entire wallet on another device, instantly transferring ownership of the funds.

Later, the 2323 BTC was indeed moved—transferred in batches to 71 different addresses, and it has not been moved since. Huo Liao Sen, dissatisfied with this, directly confronted Li Huanyong, only to be arrested himself. He admitted to one count of actual bodily harm and two counts of common assault. Afterward, he immediately called the police to accuse Li Huanyong of stealing the coins. In December, Li Huanyong was arrested by the British police and released on bail. During the police search, 10 cold wallets, 5 sets of mnemonic phrases, and several luxury watches were found, some of which were confirmed to be Huo Liao Sen's property. However, at that time, the police said there was no new evidence and did not dig further.

As of March 2026, the case has been officially transferred to the High Court of the UK for trial. The presiding judge Cotter pointed out, after reviewing the transcripts of the recordings, that the evidence presented by the plaintiff was "devastating," and bluntly stated that their chances of winning were extremely high.

Given the severe volatility in cryptocurrency prices, the judge specially approved a global freeze order, aiming to ensure the value of the related assets through an expedited trial. Although the defendant Li Huanyong vigorously denied knowing about the asset transfers by submitting a sworn statement, the court has ruled to allow the civil litigation process to continue.

Huo Liao Sen's Rise and Controversies

However, behind Huo Liao Sen's career achievements, there are also many negative controversies.

He graduated in 2003 from the Hong Kong Polytechnic University with a degree in accounting. In his early years, he served as a commentator on Hong Kong radio and financial magazines, becoming famous for his accurate predictions of the market around the 2007-2008 financial tsunami (such as being bearish on the property market and bullish on gold / yen strategies), earning him the title "Young Stock God." He accumulated his initial capital through publishing several bestselling investment books, hosting financial programs, and personal stock investments.

Since then, he invested in Bitcoin, taking his wealth to a new level.

In his testimony at the High Court in the UK, Huo Liao Sen stated that he had started purchasing and holding large amounts of Bitcoin between 2010 and 2013 (when Bitcoin prices ranged from a few dollars to several hundred dollars).

Holding 2323 Bitcoins still today, at a price of $100,000, it would be worth $232.3 million. At the current price of $70,000, it would be worth about $163 million.

However, in 2017-2018, he faced complaints about investment losses from virtual currency vending machines he promoted.

According to multiple media reports, Huo Liao Sen heavily promoted a cryptocurrency called HE15 on his social media platforms and during lectures, where investors needed to pay about HK$20,000 to HK$30,000 to purchase a so-called "cloud mining machine." This machine did not need to be taken home; it was operated by a hosting center, generating virtual currency daily, which could be exchanged for BTC or ETH on platforms associated with Huo Liao Sen.

Starting in mid-2018, the price of HE15 plummeted dramatically, and exchange channels were blocked, leading investors to discover that their assets could not be withdrawn or were nearly worthless. Some investors even found that the so-called "high-performance mining machines" actually had very low hardware configurations and were sold at prices far above market value.

In early 2019, more than 100 victims sought help from the Hong Kong Democratic Party and reported to the police, estimating the total amount involved to be at least HK$20 million.

In April 2019, the Hong Kong Commercial Crime Bureau (CCB) took action, arresting several personnel related to the project on suspicion of conspiracy to defraud.

Huo Liao Sen was then identified as the KOL of the project, but he later moved to the UK.

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