Alex Reinhardt’s Platin World Ponzi scheme has collapsed.
A go to to Platin World’s web site and social media pages recommend nothing is amiss. As an alternative, buyers have been knowledgeable of the collapse by PLC Ultima’s official Telegram channel.
As per a November twenty ninth submit to the PLC Ultima – English Telegram group;
Attributable to necessary system coaching work, PLCU withdrawals and coin transfers between wallets might be suspended in cellular apps.
It might take the group as much as two weeks to finish all the things. All PLCUX operations are carried out as normal, together with funds and transfers, getting into into the minting contracts. PLCU transfers are solely obtainable to your personal farm and again.
Additionally, all fee strategies, PLCUX and PLCU trade, in addition to PLCUX, BTC and USDT withdrawals are nonetheless carried out.
In a nutshell, present withdrawals that haven’t been cashed out are nonetheless obtainable – new withdrawals are “suspended”.
Christmas time is usually when Ponzi schemes see a rush to withdraw, so the timing of PlatinWorld collapsing isn’t coincidental.
The sport plan appears to be droop withdrawals for a couple of weeks, and hope sufficient new funding is available in to maintain PlatinWorld going into 2023.
And Alex Reinhardt may simply pull it off.
SimilarWeb tracked 1.4 million visits to Platin World’s web site in October 2022, up from 647,000 visits in September.
21% of Platin World’s web site visitors is from Germany (flat-lined), 18% is from Portugal (up 132% month on month), 11% from Italy (down 50% month on month) and 11% from Russia (down 39% month on month).
Along with Portugal, Platin World recruitment can also be taking off in Switzerland. Consider that is from October although, and Platin World recruitment might have collapsed since.
Both means, no matter is coming into Platin World clearly isn’t sufficient to cowl withdrawals – and being a Ponzi scheme, Platin World’s withdrawal liabilities will solely worsen.
Platin World is a reboot of Reinhardt’s PlatinCoin Ponzi scheme. Similar schtick, completely different Ponzi cash; PLCU and PLCUX.
PLCU is tied to Platin World’s conventional Ponzi pump and dump. PLCUX is used for Ultima Farm 12 to 36 month funding contracts.
PLCU is closely manipulated with bot buying and selling, reaching an preliminary pump of $104,805. That was again in April. Ponzi withdrawal stress has since seen PLCU’s artificially inflated worth plummet to $1288.
As Platin World buyers learnt on November twenty ninth, the precise worth of PLCU is $0. For no matter baloney quantity it’s going for, PLCU can solely be withdrawn if Alex Reinhardt says so.
Reinhardt (proper), a German nationwide, fled Germany for Dubai after PlatinCoin collapsed.
Dubai is the MLM crime capital of the world. The emirate supplies safe-haven to many MLM Ponzi schemes and the scammers who run them.
So far Platin World has up to now solely attracted the eye of regulators in Mongolia. German authorities, specifically BaFin, are significantly lazy in terms of regulation of MLM associated securities fraud.