Korean Stars Caught in Crypto Scandal with Winnerz Platform
Korean celebs entangled in Winnerz crypto fraud, sparking industry uproar
A crypto scandal involving well-known Korean celebrities has emerged, centering around accusations against the blockchain platform Winnerz for coin fraud. The platform is alleged to have engaged in deceptive practices, preventing investors from withdrawing their funds. Reports suggest anonymous investors accused Winnerz of creating a fake cryptocurrency to attract investments, then blocking withdrawals. The exact amount of trapped funds remains undisclosed.
The scandal, reported to authorities on February 5, implicates Winnerz in using celebrities to enhance the crypto's appeal to potential investors. These celebrities, in turn, could earn commissions for attracting new investors. This method mirrors a 2022 scandal involving high-profile endorsements of EthereumMax (EMAX) by celebrities, including Kim Kardashian. Kardashian faced a $1.2 million settlement with the SEC for not disclosing payment for promoting EMAX. Korean entertainment figures have publicly responded to their alleged involvement with Winnerz, clarifying their connections or denying any financial ties.
Comedian Na Sun-uk and YouTubers Kim Won-hoon and Cho Jin-se have all denied involvement, while YouTuber Oh Byeong-min admitted to investing in Winnerz and announced plans to sever ties. Winnerz has denied all allegations, asserting the legitimacy of its operations and the transparency of its business practices.
