An allegation of a crypto scandal has shaken the leisure trade in South Korea. Native reviews inform of an alleged coin fraud dedicated by an vital blockchain platform within the nation and involving widespread figures within the Korean leisure enterprise.
Winnerz Accused of Coin Fraud
The Korean Herald 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 working a coin rip-off and stopping buyers from accessing their cash.
Nameless buyers have come out claiming that the corporate has been issuing pretend cryptocurrency, gathering investments, and forbidding buyers from taking out their cash. The full amount of cash collected that’s being refused to be returned to buyers is unknown at writing time.
In line with nameless sources cited by the unique report, the crypto fraud case was submitted to the Nationwide Coverage Company on February 5, following its report back to the Korean Nationwide Civil Service.
Among the many fraud allegations, Winnerz is accused of recruiting celebrities to spice up the cryptocurrency’s credibility and appeal to buyers. The celebrities related to this apply may purchase the coin themselves, assist in the investor’s recruitment course of for a fee, or do each.
In 2022, the same case made the headlines after massive celebrities and athletes began promoting EthereumMax (EMAX) on social media platforms. Essentially the most outstanding determine concerned was Actuality TV star and socialite Kim Kardashian.
Kardashian was paid $250,000 to advertise the token to her 328 million followers in 2021. Within the promotional Instagram posts, the fact TV star didn’t correctly disclose the paid promotion nature of her tales, which resulted in a $1.2M settlement after being hit by a requirement from the US Securities and Change Fee (SEC).
Korean Personalities Reply to Crypto Scandal Allegations
The fraud case allegations contain a number of identified figures within the Korean leisure trade, notably on-line leisure. The Youtubers and comedians have responded to those allegations and additional defined their ties to Winnerz and the crypto scandal.
Korean comic Na Solar-uk, featured in a Netflix actuality competitors present simply final 12 months, was accused of being concerned within the coin fraud controversy after an image of him at Winnerz’s year-end celebration resurfaced on social media.
Na took to his YouTube channel to answer the accusations, claiming that the reviews of his involvement with the fraud ways 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’ve no affiliation with Winnerz by any means, and I need to make clear that I’ve by no means engaged in any coin investments.
Youtubers Kim Gained-hoon and Cho Jin-se additionally denied their monetary or enterprise involvement with Winnerz-related official Choi Seung-jung or every other related events to the controversy. 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.
Nonetheless, Korean YouTuber Oh Byeong-min, referred to as Oking, has admitted to investing in Winnerz. Oh’s identify was discovered on the Winnerz web site, listed as one of many firm’s administrators.
As a response, the YouTuber introduced on Thursday his intentions to withdraw his funding and lower all current and future ties with the controversial firm.
Lastly, Winnerz denied the fraud allegations on its web site, guaranteeing its enterprise practices and targets are clear and publicly disclosed. “Winnerz is a blockchain technology-based sports activities platform firm, and it’s a longtime firm with each on-line and offline operations,” mentioned the corporate, additional explaining that the Winnerz coin is listed in abroad exchanges.
Bitcoin is buying and selling at $49,901.8 within the hourly chart. Supply: BTCUSDT on TradingView.com
Function picture from Unsplash.com, Chart from Tradingview.com
