Former Macau triad boss Wan Kuok-koi has reportedly raised US$750 million for HB token, a crypto coin that will be used as the prize money for a series of chess and poker tournaments in mainland China.

On Saturday, the South China Morning Post reported that Wan, also known as Broken Tooth, launched the initial coin offering (ICO) for HB in Cambodia. The event was reportedly attended by “high-ranking government and military officials,” as well as businessmen and celebrities from mainland and Hong Kong.

There will be 1 billion HB tokens available, according to the report, but only half of these will be offered to the public. So far, 450 million of the tokens were already sold in Cambodia, Thailand and the Philippines by Wan’s company, World Hung Mun Investment. The final stop for the ICO will be in Malaysia on July 18.

Wan reportedly plans to use the HB tokens prize money for the series of chess and poker tournaments that he will hold across mainland China, starting in Hainan in October. The former Triad boss has teamed up with a company called Zhonggongxin Cosmos (Beijing) Internet Technology Ltd., a subsidiary of an alleged state-owned assets management company. According to its website, the Zhonggongxin Cosmos has an “exclusive government authorization” to operate two kinds of poker games, in addition to its online chess games. The company also has brick-and-mortar games halls.