Korean blockchain sports platform Winnerz is accused of running a coin scam and preventing investors from accessing their money.
Anonymous investors claim the company has been issuing fake cryptocurrency, gathering investments, and forbidding investors from taking out their money.
The total amount of money collected that is being refused to be returned to investors is unknown.
The crypto fraud case was submitted to the National Policy Agency on February 5.
Celebrity Involvement
Winnerz is accused of recruiting celebrities to boost the cryptocurrency’s credibility and attract investors.
Celebrities associated with this practice could buy the coin themselves, help in the investor’s recruitment process for a commission, or do both.
In 2022, celebrities and athletes advertised EthereumMax (EMAX) on social media platforms, leading to a $1.2M agreement with the US Securities and Exchange Commission (SEC).
Korean Personalities Respond
Korean comedian Na Sun-uk denied involvement in the coin fraud controversy, claiming he attended gatherings due to personal connections with the participating creators.
Youtubers Kim Won-hoon and Cho Jin-se also denied financial or business involvement with Winnerz-related official Choi Seung-jung.
Korean YouTuber Oh Byeong-min admitted to investing in Winnerz but announced his intentions to withdraw his investment and cut all ties with the company.
Winnerz denied the fraud allegations on its website, ensuring its business practices and goals are transparent and publicly disclosed.
