EPTOn June 26 2021 15:02 Kokujin wrote:
is that 200k KRW?
is that 200k KRW?
No, jinjin claims that everything is in USD.
FlaSh's Crypto Scandal - Page 2
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JustPassingBy
10776 Posts
No, jinjin claims that everything is in USD. | ||
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arbiter_md
Moldova1219 Posts
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Radivel-X17
Canada144 Posts
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jinjin5000
United States1454 Posts
On June 26 2021 15:02 Kokujin wrote: is that 200k KRW? converted to USD | ||
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M3t4PhYzX
Poland4220 Posts
kind of a scumbag move, ngl.. | ||
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Timebon3s
Norway733 Posts
If the fans feel cheated I guess the streamers lose viewers, but ffs this is crypto bullshit, everyone knows it’s just about getting rich without knowing wtf is going on, and if you are successful it’s always because someone is buying at a higher price than you did. | ||
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JoinTheRain
Bulgaria409 Posts
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oxKnu
1210 Posts
On June 26 2021 17:18 JoinTheRain wrote: Ok, Flash is a scam artist now, great. And that explanation is so remarkably stupid, laughable and so full of holes that I think it would've been better if he had not made it and consulted a lawyer on what to say so that he could mitigate damage. It's so obvious he knew what was going when he and pre-invested in this coin and THEN suggested it to viewers. Anyway, what a low lifer he turned out to be, it's astounding. But then again, greed has ruined way more important people than a random Korean with a few million dollars. Not a scam. Just a scummy thing to be involved with. Scam has legal repercussions, this hardly does unless someone was really shafted and can sue him. Which I highly doubt. | ||
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Miragee
8576 Posts
On June 26 2021 18:10 oxKnu wrote: Not a scam. Just a scummy thing to be involved with. Scam has legal repercussions, this hardly does unless someone was really shafted and can sue him. Which I highly doubt. I have no idea abou the korea legal system but in some countries it would also be possible to sue him just over "false advertisement". In some countries, influencers are legally forced to mark the "content" that is or can be considered paid advertisment. It's something the state would usually do though. | ||
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JoinTheRain
Bulgaria409 Posts
On June 26 2021 18:10 oxKnu wrote: Scam has legal repercussions, this hardly does unless someone was really shafted and can sue him. Which I highly doubt. Yes, indeed, you're correct, scamming is the crime. If he faces a trial and is sentenced, then it's a scam, as it is now it's something else and I don't know the legal term for it. I used too strong wording.  I'm mostly amused by the withdraw of investment. While investing, while hiding intentions and innocently suggesting viewers to buy this crappy coin I guess he must've felt alright, warm and cozy inside. But once it's public and it's now obvious what a repulsive, contemptible and greedy character he is, it suddenly dawns on him that what he did is kinda wrong if not illegal. So he starts feeling like withdrawing funds now cause he can't possibly be at a loss now, could he? And then it'll be all fun and jokes on stream once again, as if nothing happened. | ||
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oxKnu
1210 Posts
When faced with the opportunity to make a juicy profit, many will take the easy route and lower down their standards.It's the way its always been. Not saying the opposite doesn't exist, but this is very common. | ||
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[sc1f]eonzerg
Belgium6719 Posts
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TMNT
2959 Posts
Jokes aside, although this is nowhere as serious as the Savior incident, there's gotta be some repercussions for sure. Korean netizens don't take these things lightly (see the Kpop idols). Flash is actually lucky he's not on stream recently so people don't have him to target. I'd imagine the other involved streamers are having a hard time now. | ||
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whaski
Finland577 Posts
On June 26 2021 21:24 TMNT wrote: Yes he's banned from ASL and all Starcraft related events for 18 months. Jokes aside, although this is nowhere as serious as the Savior incident, there's gotta be some repercussions for sure. Korean netizens don't take these things lightly (see the Kpop idols). Flash is actually lucky he's not on stream recently so people don't have him to target. I'd imagine the other involved streamers are having a hard time now. https://bj.afreecatv.com/byflash/posts/64413970 The hunt is real. Guemchi has his account suspended (not sure if its related to this). Flash is truly lucky being in military. | ||
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MKStyles
106 Posts
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staatbauhaus
99 Posts
I.E you have streamers like Soochan(lol streamer) who didnt invest in the actual coin but instead the company. Currently he's being ridiculed as being "retarded" instead of a scammer. The reason why Flash and a few others (3 out of like 15 BJs) are getting more heat is because they had multiple live streams and meetups to eat and drink (offstream) with the main guy SUIT throughout the last few years. On the flip side, take care of the sentiments of Korean netizens. They love to bury people by mixing a lot of false info in with the true details. There are huge private kakao talk message groups that try to control the narrative. Just like how they tried to bury Last during his ksl run, light during his ksl run, Rain when he became asl champ. etc etc. Also, would like to add that the coin wasn't launched yet so no viewers actually had the chance to buy the coin. The most they could do is download the app for the coin. | ||
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oxKnu
1210 Posts
On June 26 2021 23:49 staatbauhaus wrote: Also, would like to add that the coin wasn't launched yet so no viewers actually had the chance to buy the coin. The most they could do is download the app for the coin. If this is true, then this whole thing is so unnecessary aside from just clarification and apologies from the respective streamers to their direct supporters. It feels like mainstream Korean culture is so inflammatory with any kind of story like this. Very trigger-happy and sensitive. | ||
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Timebon3s
Norway733 Posts
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evilfatsh1t
Australia8746 Posts
1. We need to take into account a few things. Firstly, the tendency for Koreans to go overboard with any criticism and basically destroy a public figure. Secondly, the fact that generally, afreeca audiences (especially those that actively engage with the streamers) are considered to be serious low class people. Third, with very few exceptions, streamers themselves are considered to be likewise low class people. (low class as in scum, not poor). So already we can see that the stakeholders in this "scandal" are mostly people who aren't typical, sensible, rational human beings 2. This whole scandal is 'part 2' of another scandal that is completely unrelated to flash or the streamers TL'ers would be familiar with. A streamer called Kote has just been outed as a shameless, low life scumbag (literal criminal) and Suit stepped in to defend this scumbag. Naturally people's perception of Suit went to the shitter and the original girl who outed Kote as a scumbag now brings to light the fact that Kote was a huge investor of Suit's coin business. 3. After more investigation into this allegation it is revealed that multiple streamers have invested into this coin. It's not 100% clear which of these streamers genuinely knew about any pump and dump scheme or if any of them simply invested into the coin because a seemingly reputable, successful and extremely wealthy donor introduced the coin to them. 4. Regardless of this, people are now excitedly trying to destroy these streamers' reputations (see point 1.). The obvious argument by the public is that these streamers were intending on advertising the coin to their audiences with the aim to manipulate the coin price and profit, whilst potentially making a lot of public investors lose a lot of money. 5. Even worse, news has come to light that Suit is a scam artist with no successful business background or wealth. His business portfolio is an insolvent small company and his coin presentation shows clear signs of false advertising. 6. Therefore the public can say definitively that the coin is not a legitimate business venture and has been created with the sole purpose of pump and dumping. 7. Multiple BJs have made rebuttals to their audiences along the lines of "If you don't want to invest, then don't invest" or "So how many of you guys lost money from this? Why are you giving me shit?". This was not taken well, as apparently to their fanbases, if someone makes an investment due to the influence of the streamer then it's the streamers fault. Some more things to take note of. Cryptocurrency is currently pretty much unregulated in Korea. Legislative framework is seen as a priority but it hasn't happened yet. I think the only thing that's regulated at the moment is crypto's taxation policy. What this means is nothing is going to happen to Suit or the streamers legally. Furthermore, as has been pointed out already, the coin hasn't even been issued yet. No purchases have been made and therefore no material losses due to a pump and dump scheme that someone might want to sue for. This however doesn't mean that the public won't try their hardest to shit all over people who they feel were involved with bad intent. I expect Suit will see some suits in court by any of the streamers he scammed because it's highly unlikely the streamers will see their money back. As for the streamers themselves, depending on what their explanation is for their involvement I expect that this will either pass or they will get their reputation damaged. From what I gather (not 100% sure), some of the streamers that invested never actually promoted the coin on their stream at all. Therefore this gives credibility to the theory that some streamers really did have no idea and just invested because what the hell. Either way it's pretty fucking stupid on the public's part to say that every single person involved were part of a conspiracy to defraud their fanbases. Not only has it not happened, but the decision to make any investment is their own and the investor bears the risk. If you're dumb enough to dump money into crypto because your favourite Progamer who spent his entire childhood playing games, has no financial expertise or higher level education, tells you it's a good investment, then you're a dumbshit who deserves to lose his/her money anyway. tl;dr Refer to point 1. Dumbasses being dumbasses. Now that this news is getting more exposure in the mainstream community, the reaction is less about the scandal itself and more like "LUL it's Afreeca again". Many foreigners probably won't know but despite the huge efforts Afreeca has made in recent years (with moderate success), Afreeca still carries extremely bad reputation from its earlier days as a streaming platform. | ||
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KameZerg
Sweden1767 Posts
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