Renowned Crypto Influencer Embroiled in "Donation Fraudgate," Accused of Faking Hong Kong Fire Donation Receipt, Sparking Public Outcry

By: blockbeats|2025/12/02 19:00:01

A serious fire at Wang Fuk House in Tai Po, Hong Kong, has caused hundreds of casualties and property damage. Charitable organizations such as Yan Chai Hospital promptly set up an emergency relief fund to support the affected residents. The cryptocurrency industry has also seen many companies and individuals providing assistance, including industry giants like Binance and Matrixport donating millions of Hong Kong dollars. However, on December 1, a prominent figure in the cryptocurrency community, known as KOL @Elizabethofyou, found herself embroiled in a "Donation Fraud" scandal when the community noticed that the proof of her HK$200,000 donation appeared to be photoshopped.

A "Expose the Fraud" Movement Triggered by a Screenshot

On December 1, Elizabeth, a cryptocurrency influencer with 130,000 followers, posted a tweet on the social media platform X (formerly Twitter), stating that she had donated HK$200,000 to Yan Chai Hospital to support the victims of the Tai Po fire. The tweet included a screenshot of the transaction confirmation and a caption urging others to "show kindness in the face of disaster." The act of kindness quickly garnered over 600,000 views and 1500 likes, initially being seen as a demonstration of positive energy in the industry.

Renowned Crypto Influencer Embroiled in

However, public opinion took a sharp turn within hours. Several members of the crypto community on the Twitter platform, such as @CryptoNyaRu and @abyssofgambling, analyzed the screenshot and pointed out multiple suspicious elements:

1. Irregular Font: The number "2" in the amount "200,000" in the screenshot had a noticeably thinner font, inconsistent with the font style of the "Annual Donation Hotline" number below.

2. Misalignment: The amount line and the text below could not be aligned, showing a significant discrepancy in pixel height typical of image editing software (such as Photoshop) manipulation.

The suspicions quickly escalated, turning the likes into dislikes. The community believed that if this was indeed a fraud, using a significant tragedy to deceive people's compassion was incredibly heinous, and they hoped Elizabeth could provide evidence to prove the authenticity of her donation.

Response from the Involved Party and Escalation of Public Opinion

Faced with overwhelming doubts, Elizabeth released a response video on the evening of the 1st. In the video, she insisted that she had "donated with a clear conscience" and stated that this would be her final response. She then displayed another screenshot as evidence.

This screenshot is different from the first one. The phone number is different, and the video demonstration is of a static webpage without dynamic refreshing. Additionally, netizens believe that the evidence she provided is not convincing as there is no bank transaction record or an official receipt from Renji Hospital.

After releasing a response, Elizabeth ignored numerous requests for self-verification in the comments and continued to post commercial ad tweets. This handling of the situation further enraged the public.

According to the Hong Kong Theft Ordinance, if misleading the public through false statements to gain benefits (including advertising collaboration opportunities due to traffic, brand image enhancement, etc.), it may constitute "fraud" or "obtaining property by deception." Upon conviction for such offenses, the maximum penalty can be 10 to 14 years of imprisonment. Netizens have started reaching out to donation organizations for verification and believe that if the fraudulent donation is confirmed, there should be legal consequences. Some Key Opinion Leaders (KOLs) have also compared donation verification evidence for authenticity. As of now, there has been no latest response from donation organizations regarding Elizabeth.

Historical Warning: The Cost of Celebrity "Donation Fraud"

Using charity for false publicity is not uncommon in the history of public figures.

One of the most famous cases is international actress Zhang Ziyi. During the 2008 Wenchuan earthquake, Zhang Ziyi claimed to donate 1 million RMB. However, in 2010, netizens discovered that the actual amount received was only 840,000 RMB, and the whereabouts of the millions of dollars she claimed to have raised in Cannes were unknown.

After the incident broke out, Zhang Ziyi's public image plummeted, facing an unprecedented crisis of trust. Eventually, her agent apologized for "management negligence," made up the shortfall, and hired an auditing firm to audit and disclose the foundation's accounts. Despite taking remedial measures, the "donation fraud" label followed her for many years.

In 2015, well-known actress Yang Mi promised to donate typewriters and white canes to a special education school in Chengdu while promoting the movie "I Am a Witness." However, it wasn't until 2018 that the school stated they never received the supplies.

Yang Mi's studio explained that it was due to the negligence of an "intermediary" that the donation was not fulfilled, and they promptly donated the supplies and publicly apologized. Although it was not legally classified as fraud, the incident was characterized by the public as "hypocritical," greatly undermining her integrity as a public figure.

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The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.

Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.

Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps

Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.

The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position

The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.

Social-Native Trading: Strategy and Execution Completed in the Same Context

Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying

On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.

By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.

Referral Mechanism: Non-institutional users can receive up to 60% fee split

Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings

This model aims to drive user-driven network expansion and organic growth.

Self-Custody Architecture and Built-in Privacy Mechanism

Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:

· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure

The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.

A New Path for On-Chain Derivatives

Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.

The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.

Regulatory Background

Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.

This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."

The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.

About Mixin

Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.

Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication

Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.

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