In a small bowl, dissolve cornstarch in 1/4 cup dry white wine. Set aside.
In a large skillet, heat peanut oil on medium-high heat until almost smoking. Remove the skillet from heat and add green onions. Return the skillet to heat and cook, stirring constantly, until the scallions are soft.
Add the scallops to the skillet. Cook the scallops for 1 minute, stirring constantly.
Add clam juice or broth to the skillet. Continue stirring. Add salt and red pepper or hot sauce to taste. Stir in ginger and water chestnuts.
Stir in the mixture of dissolved cornstarch and white wine. Turn the heat to high, and cook the mixture until it boils and thickens.