Nah wolong is just really smart for a scammer, he have several different fail safe to make money with this scamcoin
1. Premine that's hold by him.
2. IPO to get some BTC even before the coin is released.
3. Announcing microcoin pump on mintpal and immediately crash it after people started buying.
4. Dumping while pretending he have some big investment from China coming in to pump the coin.
This is man is an evil trader, he would have been jailed for a long time if he did it in stock exchange.
I really hope people can just kill this coin already, stop trading with it. Don't give that scammer a chance to make anymore money from this. I'm sorry for your loss but just forget about this coin and try to make up for the loss by trading on another coin.