An Allegation of Coin Fraud Shakes the South Korean Entertainment Industry
An allegation of a crypto scandal has rocked the entertainment industry in South Korea. Reports suggest that Winnerz, a prominent blockchain sports platform in the country, has been accused of fraud. The platform is alleged to have engaged in a coin scam and prevented investors from accessing their funds.
Accusations of Fake Cryptocurrency and Celebrity Involvement
Anonymous investors have come forward claiming that Winnerz issued fake cryptocurrency, collected investments, and refused to allow investors to withdraw their money. The exact amount of money involved is currently unknown. It is also alleged that Winnerz recruited celebrities to lend credibility to the cryptocurrency and attract more investors. These celebrities may have purchased the coin themselves or assisted in recruiting investors for a commission.
In 2022, a similar case made headlines when celebrities and athletes promoted EthereumMax (EMAX) on social media platforms. Reality TV star Kim Kardashian was paid $250,000 to promote the token to her millions of followers. However, she failed to disclose the nature of the paid promotion, resulting in a demand from the US Securities and Exchange Commission.
Response from Korean Personalities Involved
Several figures from the Korean entertainment industry, particularly online entertainment, have been implicated in the coin fraud scandal. Comedian Na Sun-uk responded to accusations against him by clarifying that he had no affiliation with Winnerz and had never engaged in any coin investments. Youtubers Kim Won-hoon and Cho Jin-se also denied any financial or business involvement with Winnerz or its affiliates.
However, YouTuber Oh Byeong-min admitted to investing in Winnerz but announced his intention to withdraw his investment and sever all ties with the company. On the other hand, Winnerz has denied the fraud allegations on its website, stating that its business practices are transparent and publicly disclosed.
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