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FlaSh's Crypto Scandal - Page 7

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Garrl
Profile Blog Joined February 2010
Scotland1972 Posts
Last Edited: 2021-06-30 12:53:08
June 30 2021 11:18 GMT
#121
On June 29 2021 01:39 superjoppe wrote:
Why is no one investing in low fee index funds? Seems all youngsters nowadays are all-in with random cryptos and penny stocks. Not really what research says is viable long term lol.


In a lot of countries, advertising gambling / advertising gambling to children / gambling is illegal or heavily restricted. Crypto is not yet considered gambling. Not surprising that the esports sphere has a ton of random cryptoscam shilling.
jackel
Profile Joined November 2020
12 Posts
June 30 2021 12:00 GMT
#122
It seems sketchy, but from my understanding there's no hard evidence Flash or other streamers were in on some elaborate scheme to deliberately defraud their viewers. Unless that is actually proven by relevant authorities, we should stick with the old rule, "innocent until proven guilty".
iFU.pauline
Profile Joined September 2009
France1548 Posts
June 30 2021 13:00 GMT
#123
Legend says, Suit is sAviOr.
No coward soul is mine, No trembler in the world's storm-troubled sphere, I see Heaven's glories shine, And Faith shines equal arming me from Fear
Dangermousecatdog
Profile Joined December 2010
United Kingdom7084 Posts
June 30 2021 13:21 GMT
#124
On June 30 2021 16:55 Timebon3s wrote:
If it’s not about them promoting the coin then what is it about?

This seems a bit blown out of proportion to me.
I hope this blows over fast :S

They did promote the coin. Just because this was all found out before the coin was available for purchase for the public doesn't mean they didn't promote the coin. Unless you have a different definition of promotion than how it is commonly used.
BlacKcuD
Profile Joined October 2010
Germany107 Posts
June 30 2021 14:10 GMT
#125
Water is wet.
Avid map maker and e-sport enthusiast.
Karis Vas Ryaar
Profile Blog Joined July 2011
United States4396 Posts
Last Edited: 2021-06-30 18:22:28
June 30 2021 18:21 GMT
#126
On June 30 2021 20:18 Garrl wrote:
Show nested quote +
On June 29 2021 01:39 superjoppe wrote:
Why is no one investing in low fee index funds? Seems all youngsters nowadays are all-in with random cryptos and penny stocks. Not really what research says is viable long term lol.


In a lot of countries, advertising gambling / advertising gambling to children / gambling is illegal or heavily restricted. Crypto is not yet considered gambling. Not surprising that the esports sphere has a ton of random cryptoscam shilling.



A lot of things honestly. Young people see the success of bitcoin and all of the stories of well if you invested 100 dollars in x you'd have this much money now. Younger people also are less likely to be fully aware of economic downturns like in 2008 or the Asian recessions of the 90s. Nobody really teaches investments because its not profitable to anybody except the investor. Also I think in Asia a lot of stuff is more based on who you know ad personal connections which leads to these issues (I think). Also you really should not be going to your parents for investment advice around crypto because they probably don't even understand how crypto works. The main thing I don't get is if flash can invest 200 thousand US dollars and (from his statement) have it be an amount of money he can invest without great financial risk. Why he isn't just getting a trusted financial person to handle this stuff whose an expert. Hell go to a large company so if someone screws you the company can be held accountable. Financial literacy is hard but it's not super difficult to just be somewhat aware of this stuff. Especially if you have connections and enough money to hire legitimate people.
"I'm not agreeing with a lot of Virus's decisions but they are working" Tasteless. Ipl4 Losers Bracket Virus 2-1 Maru
jinjin5000
Profile Joined May 2010
United States1422 Posts
Last Edited: 2021-06-30 18:28:53
June 30 2021 18:23 GMT
#127
Announcement #3


Hello. This is FlaSh

There wasn't any new development to situation for past week so I wasn't able to do a proper announcement. I apologize.
And I am sorry to dissapoint you guys with such disgraceful situation like this, and I am in deep regret and reflecting on this.
First of all, I will be answering what a lot of people have been asking

1. Did you intend to do insider-trading?
While it is true that I had a lot of interest in coins, I did not know the intentions behind paycoins.
I never imagined that this investment would lead to insider trading, and I never had any intention to.
However, no matter the intent, the fact that I did not look in deep enough to realize about how much damage it would do to viewers, and was just blinded by potential profit is mine to blame.
I am very sorry

2. May 28th?
I have not met up with suit on 28th at all.

I was able to recieve a lot of love and attention thanks to my fans and viewers as a progamer and BJ
But to do something disgraceful as this and make you guys feel betrayed is something that I regret doing everyday and am reflecting upon
I am truly sorry once again. I promise I won't disappoint you guys with something like this ever again.
JustPassingBy
Profile Blog Joined January 2011
10776 Posts
June 30 2021 22:32 GMT
#128
Lol, were these really two questions a lot of people were asking? I would be more interested whether he is also investing in other crypto currencies (in similar volume) and whether he was also advertising other crypto currencies on his stream (in equal fashion).

If the answer to both is "yes", then there's no problem. He's just somebody who is generally interested in investing in crypto currencies and talking to his fans about it.

If the answer to both is "no", then that really shines a bad light on him.
jinjin5000
Profile Joined May 2010
United States1422 Posts
Last Edited: 2021-07-01 17:38:44
July 01 2021 17:34 GMT
#129
New announcement post from FlaSh that comes more clean than other announcements. The main criticism for FlaSh is that how people can believe him since there is a lie revealed with every announcement post he made.

Community figures such as KCM posted that he thinks of FlaSh as "worse than saviOr"

Announcement #4 from FlaSh


I am extremely sorry about saying that I did not propose investing to other people in my first announcement post.
This may seem like an excuse, but I was afraid of the situation I was placed in, and wanted to avoid it so I was not able to make the right decision, and instead said that I never proposed investing to anyone in panic.

First of all, I will tell you guys about how Suit and other streamers were related in a timeline.

First, it was June 1st when me, Sea, and Bisu were drinking together.
(This was never about investing, but just gathering as friends)
But in middle of it, Suit suddenly called and asked if he could join as well.
So I asked Sea and Bisu if they were okay about it, and the two said it was alright, and Suit came.
During that time, I had thought that Suit was someone who was a huge contributor StarCraft scene, so he had a great impression between us, and he sat with us naturally without any wariness from us.

Second, it was June 6th, with me, JustLikeThat, GGulTengTeng drinking together in my house.
That also was just gathering with friends rather than being about investing.
Suit asked this time as well if it was okay to come over and I asked JustLikeThat, GGulTengTeng if it was okay, and when they said it was, Suit came over.
After that, talks of investing came out, and whether I intended it or not, the instigation came from me in the end, so I believe that it is my fault.
And I regret that very deeply, and am reflecting on it.

Third, is with Britney.
With Britney, it is true that I proposed investing without any relation to Suit.
After he got temporarily banned from streaming, I thought it would be nice to offer help for him to at least get some income during the period,
And with that, he came to invest with my proposal without any knowledge of it.
Now that I think of it, what I did to Britney is exactly proposing investment.
But when I was writing the announcement, I didn’t fully grasp the situation and wasn’t in right state, so I wrote that announcement very poorly. I am very sorry.
People are saying that I did broker work, and I wanted deny that since I felt that wasn’t the case and unfair, so it seems like I wrote it like that.
(T/L note: broker work akin to matchfixing)

If I really was a broker, I would have offered other streamers and close ones about the investing but, other than the 5 people above, I did not offer the investing proposal to others.
And when we did talk about investing, I told them to not do in large amounts, but limit it to the amount you can handle.
This was all extremely naive, but I had thought that at the end of day, investing is really something you should do with your own decision, so I wasn’t able to make the correct decision, but when I heard that Britney was suspecting me of something, that was when I realized it.
From those group of people, I’ve known some of them for over 10 years, and if I knew that this was not the right thing to do, I wouldn’t have said anything about investing to them.

And finally, I’ve only ever had experience buying coins, so I really didn’t know anything about how the investing structure worked.
I hope that you guys do recognize that I did not have insider knowledge or more in-depth knowledge of this than other streamers.
And with the recent conversation recording, when I said about immediate return to streaming, was not about my return to streaming but it was rather about how other streamers were under fire for this, so it was from how I was hoping they would come out maybe a day earlier from this controversy.
But as I am not the best speaker, I said something that could have been interpreted differently. I am sorry.

And currently, I haven’t gotten back my invested amount.
And after the current event became public and I’ve come to recognize this is wrong, I’ve told Suit everyday to withdraw the current crypto business.

I’ve started this investment first, and because of that, others approached this easier.
I’ve only realized now that my investment choice can dictate others and I feel the responsibility for this.
For the streamers who were harmed because of me, and the fans and viewers, I am once again very sorry for this incident.
oxKnu
Profile Joined December 2017
1179 Posts
July 01 2021 18:17 GMT
#130
Britney is banned on Afreeca?

That's hilarious, isn't he the biggest streamer on the platform?
jinjin5000
Profile Joined May 2010
United States1422 Posts
Last Edited: 2021-07-01 18:34:08
July 01 2021 18:21 GMT
#131
On July 02 2021 03:17 oxKnu wrote:
Britney is banned on Afreeca?

That's hilarious, isn't he the biggest streamer on the platform?


he made fun of natural hero/freedom fighter who died fighting against Japan during its rule and as result temp banned for 90days
oxKnu
Profile Joined December 2017
1179 Posts
Last Edited: 2021-07-01 18:40:18
July 01 2021 18:38 GMT
#132
Would like to know what "made fun" means.

re: the post above, I remember KCM banning all players that participated in some Chinese tournament Savior was invited in, so respects to the man for being so reactionary at his age. /s

Asian culture is not in a different stratosphere, it literally is a different atmosphere (maybe akin to Jupiter's?)

However, knowing all this, Flash is really stupid for not keeping this investment as separate as possible from his streaming persona, virtually knowing that at any little miss-step or misinterpretation it could blow in his face harder than a grenade, no matter if he did something legally wrong or not.
prosatan
Profile Joined September 2009
Romania7995 Posts
July 01 2021 21:14 GMT
#133
The last clip posted by Flash, the one where he goes in the army has 5.8 k likes and 3.9 k dislikes. I tried to translate some comments and people seem dissapointed with him, unfortunately...
Lee JaeDong Fighting! The only church that illuminates is the one that burns.
L_Master
Profile Blog Joined April 2009
United States8017 Posts
July 01 2021 21:25 GMT
#134
The most important thing, which is still undetermined as far as I can tell, is whether or not Flash and others were aware of the nature of scheme. It's either:

1) IF they knew the coin was a pump and dump, then I don't see much of a defense and they basically played their fans for money

2) On the other hand, Suit could be the real scammer playing on naivete. Flash and Co spent lots of time with suit from the sound of it. If he was a smooth salesman and convinced these progamers that his crypto was going to be an incredible long term project and good investment, I don't fault the streamers much.



(that said, if #2 is true, it's still seems kinda obviously stupid for the steamers not have made clear their incentivization structure)
EffOrt and Soulkey Hwaiting!
outscar
Profile Joined September 2014
2832 Posts
Last Edited: 2021-07-01 22:50:41
July 01 2021 22:40 GMT
#135
Damn, this shit really blew up and it's getting worse. However I don't get what KCM talking about, comparing him sAviOr and saying he's worse than him? WTF are they smoking? What happened is outside StarCraft lol.

On July 02 2021 06:14 prosatan wrote:
The last clip posted by Flash, the one where he goes in the army has 5.8 k likes and 3.9 k dislikes. I tried to translate some comments and people seem dissapointed with him, unfortunately...


Holy shit dude, I just translated some random top comment with 1.6K likes and ppl saying that FlaSh is hiding behind his mother, not acknowledging his actions and that he's worse than Ma Jae Yoon. Damn...

Google translated comments, you can see how extremely bad situation is right now and FlaSh's reputation is ruined irretrievably. Seems like his first announcement where he said that his mother put the money REALLY pissed of people.

"I've lived a life where I didn't say anything bad to anyone in my life and never used malicious comments, but you're a special person to me, so I just say one thing. I regret the past days of crying and laughing at your game."

"I never thought that Lee Young-ho would do something like this, the shock is so great"

"It's really disgusting to say that my mother did it rather than investing in coins. Wouldn't it be better for mom to take a bath"

"A person who has been loved by fans for over 10 years. I feel betrayed that you thought of an investment that would eat your back by using it.

"If you make a mistake, apologize and accept the insults. You are an adult. If you sell your mother, you will be cursed and ridiculed."

"I'm not even a one or two year old kid. It's at the level of making excuses for blaming the mother. Youngho, how old are you this year?"

"Youngho, it's really disappointing. I really, really liked you. I watched the broadcast for a long time as a fan, and I shot a star balloon for the first time as a fan. It's not that you don't have enough money, is it really what a human would do to lose fans like this because of greed? Leave the feeling of betrayal and feel anger. Don't come back again, make atonement for the rest of your life like Mr. Ma."

"With this incident, all the achievements and careers you built on the Starcraft have been overshadowed.."


sunbeams are never made like me...
oxKnu
Profile Joined December 2017
1179 Posts
July 01 2021 22:54 GMT
#136
Most people that chose to comment on youtube are bottom of the pool though.I don't see how that would be any different for Koreans. On the contrary, given the temperature of this situation I would expect even more ridiculous comments.
Dante08
Profile Blog Joined February 2008
Singapore4126 Posts
Last Edited: 2021-07-02 02:46:41
July 02 2021 02:44 GMT
#137
On July 02 2021 02:34 jinjin5000 wrote:
New announcement post from FlaSh that comes more clean than other announcements. The main criticism for FlaSh is that how people can believe him since there is a lie revealed with every announcement post he made.

Community figures such as KCM posted that he thinks of FlaSh as "worse than saviOr"

Show nested quote +
Announcement #4 from FlaSh


I am extremely sorry about saying that I did not propose investing to other people in my first announcement post.
This may seem like an excuse, but I was afraid of the situation I was placed in, and wanted to avoid it so I was not able to make the right decision, and instead said that I never proposed investing to anyone in panic.

First of all, I will tell you guys about how Suit and other streamers were related in a timeline.

First, it was June 1st when me, Sea, and Bisu were drinking together.
(This was never about investing, but just gathering as friends)
But in middle of it, Suit suddenly called and asked if he could join as well.
So I asked Sea and Bisu if they were okay about it, and the two said it was alright, and Suit came.
During that time, I had thought that Suit was someone who was a huge contributor StarCraft scene, so he had a great impression between us, and he sat with us naturally without any wariness from us.

Second, it was June 6th, with me, JustLikeThat, GGulTengTeng drinking together in my house.
That also was just gathering with friends rather than being about investing.
Suit asked this time as well if it was okay to come over and I asked JustLikeThat, GGulTengTeng if it was okay, and when they said it was, Suit came over.
After that, talks of investing came out, and whether I intended it or not, the instigation came from me in the end, so I believe that it is my fault.
And I regret that very deeply, and am reflecting on it.

Third, is with Britney.
With Britney, it is true that I proposed investing without any relation to Suit.
After he got temporarily banned from streaming, I thought it would be nice to offer help for him to at least get some income during the period,
And with that, he came to invest with my proposal without any knowledge of it.
Now that I think of it, what I did to Britney is exactly proposing investment.
But when I was writing the announcement, I didn’t fully grasp the situation and wasn’t in right state, so I wrote that announcement very poorly. I am very sorry.
People are saying that I did broker work, and I wanted deny that since I felt that wasn’t the case and unfair, so it seems like I wrote it like that.
(T/L note: broker work akin to matchfixing)

If I really was a broker, I would have offered other streamers and close ones about the investing but, other than the 5 people above, I did not offer the investing proposal to others.
And when we did talk about investing, I told them to not do in large amounts, but limit it to the amount you can handle.
This was all extremely naive, but I had thought that at the end of day, investing is really something you should do with your own decision, so I wasn’t able to make the correct decision, but when I heard that Britney was suspecting me of something, that was when I realized it.
From those group of people, I’ve known some of them for over 10 years, and if I knew that this was not the right thing to do, I wouldn’t have said anything about investing to them.

And finally, I’ve only ever had experience buying coins, so I really didn’t know anything about how the investing structure worked.
I hope that you guys do recognize that I did not have insider knowledge or more in-depth knowledge of this than other streamers.
And with the recent conversation recording, when I said about immediate return to streaming, was not about my return to streaming but it was rather about how other streamers were under fire for this, so it was from how I was hoping they would come out maybe a day earlier from this controversy.
But as I am not the best speaker, I said something that could have been interpreted differently. I am sorry.

And currently, I haven’t gotten back my invested amount.
And after the current event became public and I’ve come to recognize this is wrong, I’ve told Suit everyday to withdraw the current crypto business.

I’ve started this investment first, and because of that, others approached this easier.
I’ve only realized now that my investment choice can dictate others and I feel the responsibility for this.
For the streamers who were harmed because of me, and the fans and viewers, I am once again very sorry for this incident.


Still don't get what the fuss is about, isn't Flash a victim in this as well? Presumably he didn't know about Suit's character before introducing those people to him.

These Korean netizens are jumping on the gun far too early.
evilfatsh1t
Profile Joined October 2010
Australia8641 Posts
July 02 2021 04:24 GMT
#138
On July 02 2021 11:44 Dante08 wrote:
Show nested quote +
On July 02 2021 02:34 jinjin5000 wrote:
New announcement post from FlaSh that comes more clean than other announcements. The main criticism for FlaSh is that how people can believe him since there is a lie revealed with every announcement post he made.

Community figures such as KCM posted that he thinks of FlaSh as "worse than saviOr"

Announcement #4 from FlaSh


I am extremely sorry about saying that I did not propose investing to other people in my first announcement post.
This may seem like an excuse, but I was afraid of the situation I was placed in, and wanted to avoid it so I was not able to make the right decision, and instead said that I never proposed investing to anyone in panic.

First of all, I will tell you guys about how Suit and other streamers were related in a timeline.

First, it was June 1st when me, Sea, and Bisu were drinking together.
(This was never about investing, but just gathering as friends)
But in middle of it, Suit suddenly called and asked if he could join as well.
So I asked Sea and Bisu if they were okay about it, and the two said it was alright, and Suit came.
During that time, I had thought that Suit was someone who was a huge contributor StarCraft scene, so he had a great impression between us, and he sat with us naturally without any wariness from us.

Second, it was June 6th, with me, JustLikeThat, GGulTengTeng drinking together in my house.
That also was just gathering with friends rather than being about investing.
Suit asked this time as well if it was okay to come over and I asked JustLikeThat, GGulTengTeng if it was okay, and when they said it was, Suit came over.
After that, talks of investing came out, and whether I intended it or not, the instigation came from me in the end, so I believe that it is my fault.
And I regret that very deeply, and am reflecting on it.

Third, is with Britney.
With Britney, it is true that I proposed investing without any relation to Suit.
After he got temporarily banned from streaming, I thought it would be nice to offer help for him to at least get some income during the period,
And with that, he came to invest with my proposal without any knowledge of it.
Now that I think of it, what I did to Britney is exactly proposing investment.
But when I was writing the announcement, I didn’t fully grasp the situation and wasn’t in right state, so I wrote that announcement very poorly. I am very sorry.
People are saying that I did broker work, and I wanted deny that since I felt that wasn’t the case and unfair, so it seems like I wrote it like that.
(T/L note: broker work akin to matchfixing)

If I really was a broker, I would have offered other streamers and close ones about the investing but, other than the 5 people above, I did not offer the investing proposal to others.
And when we did talk about investing, I told them to not do in large amounts, but limit it to the amount you can handle.
This was all extremely naive, but I had thought that at the end of day, investing is really something you should do with your own decision, so I wasn’t able to make the correct decision, but when I heard that Britney was suspecting me of something, that was when I realized it.
From those group of people, I’ve known some of them for over 10 years, and if I knew that this was not the right thing to do, I wouldn’t have said anything about investing to them.

And finally, I’ve only ever had experience buying coins, so I really didn’t know anything about how the investing structure worked.
I hope that you guys do recognize that I did not have insider knowledge or more in-depth knowledge of this than other streamers.
And with the recent conversation recording, when I said about immediate return to streaming, was not about my return to streaming but it was rather about how other streamers were under fire for this, so it was from how I was hoping they would come out maybe a day earlier from this controversy.
But as I am not the best speaker, I said something that could have been interpreted differently. I am sorry.

And currently, I haven’t gotten back my invested amount.
And after the current event became public and I’ve come to recognize this is wrong, I’ve told Suit everyday to withdraw the current crypto business.

I’ve started this investment first, and because of that, others approached this easier.
I’ve only realized now that my investment choice can dictate others and I feel the responsibility for this.
For the streamers who were harmed because of me, and the fans and viewers, I am once again very sorry for this incident.


Still don't get what the fuss is about, isn't Flash a victim in this as well? Presumably he didn't know about Suit's character before introducing those people to him.

These Korean netizens are jumping on the gun far too early.

its not just korean netizens. we had the exact same kind of people in this very thread also
vespene_geyser
Profile Joined February 2021
4 Posts
July 02 2021 05:31 GMT
#139
no matter how flash was tricked by suit at first, he could have been utmost honest at his 1st announcement and cut some loss.
CiuCiu
Profile Joined October 2015
30 Posts
July 02 2021 07:14 GMT
#140
Plot twist: There is no such thing as bad advertising. All this 'scandal' was engineering just to bring this crypto coin under even more spotlight and the guy who started this post is actually the same guy who started the coin. The coin is skyrocketing.
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