The PlatinCoin Ponzi scheme has been rebooted as PlatinWorld.
PlatinCoin was a Ponzi scheme launched in 2017 by Ponzi promoter turned founder, Alex Reinhardt.
Reinhardt modeled PlatinCoin on the collapsed SwissCoin Ponzi, which he was a prime net-winner in.
That’s Reinhardt on the left, celebrating theft of €94,000 EUR from SwissCoin buyers.
Launched as your typical Ponzi factors come public change exit-scam later, right here’s how PlatinCoin went after it was dumped on exchanges:
By early to mid 2021 recruitment of PlatinCoin victims had slowed such that Reinhardt determined to reboot his rip-off.
Enter PlatinWorld, whose web site area “platinworld.com” was registered on June twenty third, 2021.
After just a few months of establishing PlatinCoin’s reboot, PlatinWorld was formally introduced in Dubai in November 2021.
Whereas PlatinCoin’s web site continues to be up, successfully the Ponzi scheme was deserted in favor of PlatinWorld.
PlatinWorld noticed Reinhardt launch a brand new Ponzi coin to rip-off folks with, PLC Ultima.
Evidently conscious Ponzi rip-off reboot cash are inclined to fare worse than their predecessors, PLC Final at the moment has a hilarious public buying and selling worth of virtually $60,000.
You possibly can see the manipulation started round November, pegging PLCU to round $20,000. That’s elevated and been tremendous tuned to the present $58,684 worth.
Ought to anybody withdraw even a modest quantity of held PLCU, or the wash buying and selling bot is turned off, the next dump can be fairly epic.
Past eager to reboot his Ponzi coin, Reinhardt’s advertising and marketing story behind PlatinWorld is fairly lazy.
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On the promotional aspect of issues, based mostly on web site site visitors estimates from Alexa, PlatinCoin bagholders are in Germany (24%), India (17%) and Mongolia (14%).
Though it was launched in late 2021, PlatinWorld recruitment solely picked up round January 2022. As per Alexa internet site visitors estimates once more, PlatinWorld is being pushed in Germany (24%), Russia (17%) and Mongolia (14%). Unsure why India dropped off in favor of Russia.
There’s no direct point out of MLM on PlatinWorld’s web site, but it surely seems PlatinCoin’s MLM alternative has been carried over:
The highest scammer selling PlatinWorld is German citizen Elias Pape.
Pape jumped into Ponzi scamming from Kyani. He was with Alex Reinhardt in SwissCoin and jumped over to PlatinCoin at launch.
Along with Reinhardt, Pape seems to have fled Germany for Dubai.
Dubai is the MLM rip-off capital of the world. Attributable to restricted extradition agreements and non-regulation of MLM associated securities fraud, the emirate supplies a safe-haven to scammers.
With respect to MLM due-diligence, any firm, govt or promoter working out of Dubai raises an automated purple flag.
In the interim gullible PlatinWorld buyers are possible being recruited on PLCU’s manipulated public buying and selling worth. It appears good on paper however clearly isn’t backed by something.
Be it scammers like Elias Pape cashing out PLCU or PlatinWorld recruitment collapsing (once more), PlatinWorld’s home of playing cards crashing down will end result within the majority of buyers shedding cash.
Replace twenty third Could 2022 – A reader wrote in to ask about “Ultima Farm”, operating from “ultimafarm.com”.
Ultima Farm is a part of Reinhardt’s PlatinWorld Ponzi scheme.
By a smart-contract, buyers are promised
month-to-month minting over the course of 12 to 36 months. The method is completely on the PLC Ultima blockchain.
Particular PLC Ultima funding phrases aren’t supplied.
Ultima Farm is being run by Platinex LLC, a Georgian shell firm.
Replace sixteenth October 2022 – BehindMLM has revealed a separate article masking Ultima Farm and PLCUX.
The article notes PlatinWorld and PLCUX have successfully collapsed.
Replace thirtieth November 2022 – Platin World has disabled PLCU withdrawals.