Platinum Bitcoin was a Scam project, the South Korean teenager

Platinum Bitcoin was a Scam project, the South Korean teenager

South Korean investors had to meet a scammer in cryptocurrency market. Data from the largest South Korean news Agency, JoongAng, investors, local cryptocurrency exchange concerned about the scum-koina Bitcoin Platinum.

The project Twitter account @bitcoinplatinum was presented by the Creator as a hard fork of bitcoin, which will occur at block 498 577 with the support of a group of miners, developers, investors and users of bitcoin. There was no information about these people.

Initially, investors reacted to the project with skepticism, given his vague description and the concept. Bitcoin Platinum was focused on the implementation of the “original ideas Satoshi and presented a decentralized electronic currency”, but was an identical copy of Bitcoin Cash.

Skepticism adds that the Bitcoin Platinum account had not been submitted and no additional information, except for the illiterate PR posts. In one such statement said:

“Bitcoin Platinum is the world of the real blockchain. Traders and users will receive low Commission and quick confirmation. In the future the currency expects global acceptance, unlimited innovation and growth, and decentralized development.”

10 Dec Creator of Bitcoin Platinum in a Twitter post published in Korean language informal style:

“To short bitcoin very well. Who said he need to buy? To short bitcoin best.”

Based on these reports, obviously, the goal of the project Bitcoin Platinum was a reduction in the price of the original bitcoin by issuing a hard fork and earnings on short-term price trend.

JoongAng and other South Korean media found that the project is a youth who has thus tried to capitalize on the fall of the cryptocurrency on the market. Now he is suspected of fraud.

Subsequently, the teenager admitted on Twitter that Bitcoin Platinum was originally created as a fraudulent scheme:

“Please forgive me. Bitcoin Platinum is a Scam-coin. I created this project to earn 5 million won ($4 590)”.

The plan of the government of South Korea

Last month, the country has been disclosed a Ponzi scheme for $200 million, focused on investors of middle age. The organizers of the pyramid founded cryptocurrency consulting company in Seoul, lured investors unrealistic profits and promises to invest in bitcoin.

Defrauded investors who did not receive the long months of payments, asked the local police to investigate the case. The result has been arrested 5 people behind the Ponzi scheme.

In the near future the South Korean government and cryptocurrency in the composition of the employees of five ministries, including the Ministry of strategy and Finance, will develop a regulatory framework for the regulation of the South Korean cryptocurrency market. The forthcoming regulation is an attempt to prevent fraud and Scam projects like the Ponzi scheme of $200 million and Bitcoin’s Platinum.

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