South Korean Police Raid Winnerz Offices Over ‘Scam Coin’ Allegations

South Korean police officers have robbed the workplaces of the sporting activities-themed blockchain product Winnerz as void of a probe right into cases its WNZ token is a “rip-off coin.”

Per the newspaper Cash Today, the Seoul City Police Agency’s ruffian openings burden decreed on April 16 that it had sifted and also foreclosed indications from 2 places.

WNZ prices over the past 24 hours. (Source: CoinMarketCap)

South Korean Police Raid Two Addresses

Police asserted they robbed a Winnerz workplace in Gangnam, Seoul, and also the home of the previous Winnerz CEO Choi Seung-jeong on April 1.

A court room warrant approved police officers the right to browse freeholds on unpredictabilities of rip-off and also coercion under the Deportment on Exacerbated Punishment for Particular Economic Crook activities.

Multiple South Korean superstars, sporting activities superstars, and also social media personalities have robbed links to Choi and also Winnerz in recent months.

💥 K-pop Celebrities Choi Si-won, Cho Hyun-young Deprive South Korean ‘Bamboozle Coin’ Involvement

K-pop superstars Choi Si-won and also Cho Hyun-young have robbed complaints that they were entailed in boosting so-termed South Korean “rip-off coins.”#CryptoNews #SouthKoreahttps://t.co/XZoy8Se6pJ

— Cryptonews.com (@cryptonews) February 16, 2024

This adhered to a viral confidential short blog post from a group of confidential sponsors that recharged Winnerz of operating a “multi-level rip-off” strategy on February 2.

The short blog post has turned on controversy about both Winnerz and also Choi. It has just as reopened controversy over a token named Golden Aspiration (GDG), which some case is a “rip-off coin.”

WNZ has been listed on overseas crypto exchanges. Yet, multiple South Korean sponsors have filed complaints about the token to the regulatory Fiscal Selections Payment (FSC).

The FSC has approved that passed the husk on to the police officers, the media electric outlet explained. The police officers are reviewing 2 other WNZ-relevant complaints, independent of the FSC’s own deployment.

Police execs allegedly think that Choi “had in the past been in penalty of boosting” GDG. The media electric outlet termed GDG “a suspected crypto rip-off well worth billions of KRW.”

‘Bamboozle Coin’ Disagreements Perpetuate

On March 28, police officers police officers execs collared the Golden Aspiration CEO – surnamed Kim – and also recharged him via rip-off-relevant peccadilloes.

The Seoul Southern Stretch Prosecutors’ Occupational undertone’s Virtual Asset Joint Analysis Unit – the nation’s top anti-crypto offender offense division – began reviewing Choi on relevant rip-off penalties late last month.

WNZ prices show up to have pilfered a tumble on the description.

K-pop superstars such as Choi Si-won, of the with one voice-individual group Super Junior, and also Cho Hyun-young, a previous contestant of the with one voice-female mien Rainbow, robbed links to the “Winnerz Coin controversy” in mid-February.