The story begins with the "ICO craze".
Written by Eric, Foresight News
Luo Yonghao returns to X after 6 years.
On May 13th, Beijing time, Luo Yonghao posted "Let's test it out" on both his old and new X accounts, announcing his return.
Luo Yonghao's new X account was last updated in June 2020. This time, he used his old account that he "suddenly remembered the password in the middle of the night". The cover of the account has been changed to the logo of the podcast "Luo Yonghao's Crossroads". There are also some past podcast episodes in the new tweets.
However, compared to podcasts, Luo Yonghao's own remarks are clearly more entertaining. Since the new account officially launched, Luo Yonghao has already had numerous exchanges with "crypto people." Currently, the account's pinned tweet still warns people against cryptocurrency scams using his name.
X can be considered the "headquarters" of the Web3 industry, and Luo Yonghao's return will inevitably involve clashes with active figures in the crypto. However, if we were to talk about Luo Yonghao's connection with Web3, we might have to go back 8 years.
2017 and 2018 were the years of the "ICO frenzy" in the crypto, and also the time when the wealth effect of the first round of tokens exploded. Luo Yonghao also said on X that if he had no shame, he would have made enough money to buy an island back then. "Back then, so many scammers came to me, saying that I didn't even need to endorse anything, as long as I didn't come forward to publicly deny it, they would give me so much money."
In May 2018, Luo Yonghao criticized Wang Qianchuang, a former frontline programmer at Smartisan Technology, on Weibo, saying he "didn't focus on his work, spent all his time trading cryptocurrencies, and didn't make much money." He also mentioned that he had invested over 1 million yuan in Bitcoin years ago, which had grown to over 30 million yuan by the time he posted the message. According to Guancha.cn, Wang Qianchuang's obsession with cryptocurrency trading displeased Luo Yonghao, leading to his statement.
This is also the first time Luo Yonghao has publicly mentioned cryptocurrency-related content on social media, but his earliest public expression of his views on blockchain was when he participated in "Wang Feng's Ten Questions" in late May 2018.
At that event, Luo Yonghao expressed his firm belief that blockchain technology can change the world, and that Smartisan Technology has been actively researching and learning about related applications. When asked about blockchain phones, Luo Yonghao bluntly stated, "We will definitely make a blockchain phone, but it's not convenient to say more details yet."
In addition, Luo Yonghao revealed that in the early days of Smartisan Technology, he "followed the lead of his friends" and invested 1 million yuan in Bitcoin, which later rose to more than 30 million yuan. "I don't like speculative business, so I won't spend my energy on trading cryptocurrencies. I won't consider doing ICOs before the relevant national policies are officially introduced."
It is widely speculated that Luo Yonghao's so-called "friend" is likely Li Xiaolai, who worked with Luo as an English teacher at New Oriental in his early days and later rose to fame overnight in 2017 due to Bitcoin. According to public information, Luo Yonghao joined the shareholders of Feigman (Beijing) Technology Co., Ltd., an affiliated company of Mixin, in 2016. Besides the founder Feng Xiaodong, the shareholders of this company are Luo Yonghao's friend Li Xiaolai.
In February 2023, Luo Yonghao withdrew from the shareholder list. In September of the same year, Mixin was hacked, resulting in losses of $200 million. Having achieved a 30-fold return on Bitcoin and exiting before the project was attacked, Luo Yonghao's investment in the Web3 industry can be considered undeniably successful.
While Luo Yonghao achieved success investing in Bitcoin, his company's operations proved less than satisfactory. Later that year, the same year he participated in the "Wang Feng Ten Questions" forum, Smartisan Technology was rumored to be facing a broken cash flow, defaulting on payments to suppliers, layoffs, and ongoing disputes. This situation did not improve the following year. In November 2019, Luo Yonghao posted on Weibo that he was on the court's list of restricted consumers and published an article titled "A Confession of a 'Dishonest' CEO."
At that time, online discussions about Luo Yonghao were in full swing, and crypto celebrities on Weibo were not going to let this wave of traffic go to waste.
Justin Sun was the first to "launch an attack," offering Luo Yonghao a million-yuan annual salary to serve as the spokesperson for Tron's entrepreneurial spirit. If the results were good, he was willing to invest an additional 10 million yuan. Just a few days earlier, Luo Yonghao had stated on X that the offer Justin Sun made was the "stingiest" among the companies that had extended offers.
At that time, Xu Kun, Chief Strategy Officer of OKEx, also posted on Weibo that he hoped to invite Luo Yonghao to join OKEx.
In response to these invitations, Luo Yonghao said in the early hours of the morning: "Thank you to my friends in the crypto for thinking so highly of me, but I can issue my own cryptocurrency, I just don't plan to do it. Anyway, thank you for your kindness."
More than six years after his last "close encounter" with the crypto, "Luo Yonghao" has returned to his old Twitter account. Faced with this familiar yet unfamiliar environment, his statements have even led many to suspect that the account isn't actually run by Luo Yonghao himself. Many people may still remember Luo Yonghao for his outspoken and confrontational style, but perhaps time has shaped his personality, much like the vastly different world of crypto in 2017 and Web3 in 2026.
Regardless, on the X platform, Luo Yonghao will inevitably have to face the surreal world of crypto. We can only wait and see what new stories will unfold when the ever-righteous Luo Yonghao, after nearly seven years away from Web3, reconnects with this industry he both loves and hates.
