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FlaSh's Crypto Scandal - Page 2

Forum Index > BW General
Post a Reply
Prev 1 2 3 4 5 17 18 19 Next All
JustPassingBy
Profile Blog Joined January 2011
10776 Posts
June 26 2021 06:44 GMT
#21
On June 26 2021 15:02 Kokujin wrote:
is that 200k KRW?


No, jinjin claims that everything is in USD.
arbiter_md
Profile Joined February 2008
Moldova1219 Posts
June 26 2021 06:52 GMT
#22
It's called market manipulation and it's illegal in pretty much every country. In this case Flash was used as a tool, and his friend was the mastermind of this. Too bad Flash fell for this, and I guess there will be consequences.
The copyright of this post belongs solely to me. Nobody else, not teamliquid, not greetech and not even blizzard have any share of this copyright. You can copy, distribute, use in commercial purposes the content of this post or parts of it freely.
Radivel-X17
Profile Joined January 2006
Canada144 Posts
June 26 2021 07:21 GMT
#23
just wait for Elon to tweet about this
I used to run SC2GG, if you remember that. Come to NHFFA discord. It's where a bunch of old players who all suck at BW hang out, as well as people who like to play FFAs for some reason. https://discord.com/invite/kWNQvnd
jinjin5000
Profile Joined May 2010
United States1418 Posts
June 26 2021 07:47 GMT
#24
On June 26 2021 15:02 Kokujin wrote:
is that 200k KRW?

converted to USD
M3t4PhYzX
Profile Joined March 2019
Poland4175 Posts
June 26 2021 07:58 GMT
#25
whoops..

kind of a scumbag move, ngl..
odi profanum vulgus et arceo
Timebon3s
Profile Joined May 2018
Norway685 Posts
June 26 2021 08:15 GMT
#26
If someone mentions a coin or investment, you should assume they are invested into it. Otherwise what’s the point.

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.
JoinTheRain
Profile Blog Joined September 2018
Bulgaria408 Posts
June 26 2021 08:18 GMT
#27
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.
The subject-matter of the art of living is each person's own life.
oxKnu
Profile Joined December 2017
1179 Posts
June 26 2021 09:10 GMT
#28
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.
Miragee
Profile Joined December 2009
8499 Posts
June 26 2021 09:41 GMT
#29
On June 26 2021 18:10 oxKnu wrote:
Show nested quote +
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.


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.
JoinTheRain
Profile Blog Joined September 2018
Bulgaria408 Posts
June 26 2021 09:47 GMT
#30
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.
The subject-matter of the art of living is each person's own life.
oxKnu
Profile Joined December 2017
1179 Posts
June 26 2021 10:11 GMT
#31
If you think that, then there are hundreds of millions of repulsive, contemptible and greedy characters running around this world each and every day.

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.
[sc1f]eonzerg
Profile Blog Joined February 2010
Belgium6555 Posts
June 26 2021 12:06 GMT
#32
Apparently koreans hate now Flash as they hate savior? Can some korean confirm this? Is flash risking a ban from ASL ?
TMNT
Profile Joined January 2021
2656 Posts
June 26 2021 12:24 GMT
#33
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.
whaski
Profile Joined December 2012
Finland576 Posts
June 26 2021 14:10 GMT
#34
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.
it's not just a music it's something else
MKStyles
Profile Joined April 2017
106 Posts
June 26 2021 14:12 GMT
#35
Well aslong as he would have won, its fine
staatbauhaus
Profile Joined February 2020
99 Posts
Last Edited: 2021-06-26 14:52:59
June 26 2021 14:49 GMT
#36
The complex part of "coingate" is the fact that it's difficult to actually know which Bj's had actual knowledge of the supposed "scheme" vs just being lured in with the chance to make high percentage profits. Without some alien technology to read their minds you wouldn't be able to know. It's just speculation.
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.
oxKnu
Profile Joined December 2017
1179 Posts
June 26 2021 14:59 GMT
#37
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.
Timebon3s
Profile Joined May 2018
Norway685 Posts
June 26 2021 16:01 GMT
#38
Yeah same thing happened during the Winter Olympics and some girl doing something she shouldn’t. It’s like they just wait for someone to do something wrong and jump on that person.
evilfatsh1t
Profile Joined October 2010
Australia8639 Posts
Last Edited: 2021-06-26 16:46:25
June 26 2021 16:33 GMT
#39
Here's the current facts on this "scandal", with more background. Will punctuate properly for once for an easier read:
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.
KameZerg
Profile Blog Joined May 2007
Sweden1762 Posts
June 26 2021 17:15 GMT
#40
If you promote a dump and dump scheme your a scammer, end of story. Whats the fuss all about?
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