The Platin World Ponzi scheme run by Alex Reinhardt has failed.
From what can be seen on Platin World’s website and social media pages, nothing seems to be wrong. Instead, investors found out about the collapse through the official Telegram channel for PLC Ultima.
According to a message sent to the PLC Ultima – English Telegram group on November 29;
Because important system training work needs to be done, mobile apps won’t be able to withdraw PLCU or move coins between wallets.
The team might need up to two weeks to get everything done. All PLCUX operations, such as payments, transfers, and entering into minting contracts, are done as usual. You can only use PLCU transfers to go to and from your own farm.
Also, you can still use all payment methods, exchange PLCUX and PLCU, and withdraw PLCUX, BTC, and USDT.
In short, withdrawals that have already been made but haven’t been cashed out are still available, but new withdrawals are “suspended.”
People usually rush to get their money out of Ponzi schemes around Christmas, so it’s not a coincidence that PlatinWorld went down around that time.
It looks like the plan is to stop withdrawals for a few weeks and hope that enough new money comes in to keep PlatinWorld going until 2023.
Alex Reinhardt might be able to do it.
In September 2022, 647,000 people went to Platin World’s website. In October 2022, 1.4 million people went to the site.
21% of the traffic to Platin World’s website comes from Germany, which has stayed the same since last month. Another 18% comes from Portugal, which has grown by 132% since last month.
In addition to Portugal, Switzerland is also a good place to find people to join Platin World. Keep in mind that this was written in October, so Platin World could have stopped recruiting since then.
No matter what is coming into Platin World, it is clear that it is not enough to cover withdrawals, and because it is a Ponzi scheme, it will only get worse.
Reinhardt’s PlatinCoin Ponzi scheme got a new start with Platin World. Same schtick, different Ponzi coins; PLCU and PLCUX.
PLCU is connected to Platin World’s classic pump-and-dump Ponzi scheme. PLCUX is used for 12- to 36-month investment contracts with Ultima Farm.
PLCU is heavily manipulated by bot trading, which led to a $104,805 initial pump. Back in April, that happened. Since then, people who lost money in Ponzi schemes have caused PLCU’s artificially inflated value to drop to $1288.
On November 29, investors in Platin World found out that the real value of PLCU is $0. PLCU can only be withdrawn if Alex Reinhardt says so, no matter how much crap it’s being sold for.
Reinhardt , who was from Germany, left Germany for Dubai when PlatinCoin failed.
Dubai is the world’s MLM crime capital. Many MLM Ponzi schemes and the scammers who run them find refuge in the emirate.
So far, Mongolian regulators are the only ones who have paid attention to Platin World. When it comes to regulating securities fraud related to MLMs, the German government, especially BaFin, is very lazy.
Change on January 6, 2023 – Alex Reinhardt has brought PlatinWorld back to life with a “new” Ponzi token called PLCU.