An allegation of a crypto scandal has shaken the leisure business in South Korea. Native reviews tell of an alleged coin fraud dedicated through the most important blockchain platform within the nation and involving fashionable figures within the Korean leisure trade.
Winnerz Accused of Coin Fraud
The Korean Bring in reported on February 13 that the Korean blockchain sports activities platform Winnerz, which operates a number of companies, has been accused of fraud. The platform is accused of operating a coin rip-off and combating traders from getting access to their cash.
Nameless traders have pop out claiming that the corporate has been issuing faux cryptocurrency, amassing investments, and forbidding traders from getting rid of their cash. The overall amount of cash gathered this is being refused to be returned to traders is unknown at writing time.
In line with nameless assets cited through the unique file, the crypto fraud case used to be submitted to the Nationwide Coverage Company on February 5, following its report back to the Korean Nationwide Civil Provider.
A few of the fraud allegations, Winnerz is accused of recruiting celebrities to spice up the cryptocurrency’s credibility and draw in traders. The celebs related to this tradition may just purchase the coin themselves, lend a hand within the investor’s recruitment procedure for a fee, or do each.
In 2022, a an identical case made the headlines after giant celebrities and athletes began promoting EthereumMax (EMAX) on social media platforms. Probably the most distinguished determine concerned used to be Truth TV big name and socialite Kim Kardashian.
Kardashian used to be paid $250,000 to advertise the token to her 328 million fans in 2021. Within the promotional Instagram posts, the truth TV big name failed to correctly reveal the paid promotion nature of her tales, which ended in a $1.2M settlement after being hit through a requirement from the USA Securities and Trade Fee (SEC).
Korean Personalities Reply to Crypto Scandal Allegations
The fraud case allegations contain a number of identified figures within the Korean leisure business, specifically on-line leisure. The Youtubers and comedians have answered to those allegations and additional defined their ties to Winnerz and the crypto scandal.
Korean comic Na Solar-uk, featured in a Netflix truth festival display simply remaining 12 months, used to be accused of being concerned within the coin fraud controversy after an image of him at Winnerz’s year-end birthday celebration resurfaced on social media.
Na took to his YouTube channel to reply to the accusations, claiming that the reviews of his involvement with the fraud techniques had been false. The comic defined that the images got here from gatherings he attended because of private connections with the collaborating creators. Na mentioned:
Each conferences had been temporary eating events. I haven’t any association with Winnerz in any way, and I need to explain that I’ve by no means engaged in any coin investments.
Youtubers Kim Received-hoon and Cho Jin-se additionally denied their monetary or trade involvement with Winnerz-related legit Choi Seung-jung or another related events to the debate. Their accusation additionally got here after the resurfacing of an image of Kim and Choi on social media. Choi has allegedly led a slew of coin frauds up to now, together with the GDC and TYP coin frauds.
On the other hand, Korean YouTuber Oh Byeong-min, referred to as Oking, has admitted to making an investment in Winnerz. Oh’s identify used to be discovered at the Winnerz website online, indexed as one of the crucial corporate’s administrators.
As a reaction, the YouTuber introduced on Thursday his intentions to withdraw his funding and minimize all provide and long term ties with the arguable corporate.
Finally, Winnerz denied the fraud allegations on its website online, making sure its trade practices and objectives are clear and publicly disclosed. “Winnerz is a blockchain technology-based sports activities platform corporate, and it’s a longtime corporate with each on-line and offline operations,” mentioned the corporate, additional explaining that the Winnerz coin is indexed in out of the country exchanges.
Bitcoin is buying and selling at $49,901.8 within the hourly chart. Supply: BTCUSDT on TradingView.com
Function symbol from Unsplash.com, Chart from Tradingview.com
