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jinjin5000
United States1418 Posts
It's not going down well in Korea since people feel like it never addressed the core issue, which was people feeling that the intent behind crypto was to exploit fans to make money, and people also feel that this shouldn't have just been short pre-recorded stream but live Q&A. And to people who aren't famililar, I wrote script to Saiyan's video on this incident here: + Show Spoiler + 
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Highwinds
Canada955 Posts
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llIH
Norway2143 Posts
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jinjin5000
United States1418 Posts
he's streaming live as if nothing happened, no Q&A Come on. | ||
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jinjin5000
United States1418 Posts
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Lorch
Germany3678 Posts
So I guess he lost 1 Billion won? Imo that's more than enough punishment. | ||
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RJBTVYOUTUBE
Netherlands809 Posts
On October 20 2024 21:37 Lorch wrote: Thank you for the fast translation, especially on a sunday. So I guess he lost 1 Billion won? Imo that's more than enough punishment. I changed my perspective on the flashcoin scandal when the article came out that Suit was convicted for scamming millions worth of USD(in won) from people. Changed my mind in that Flash(and the others too) was most likely a victim of the scam who was desperate for his money and fell victim to the sunk cost fallacy, where he just kept dumping more money into the obvious attempt to scam him to get his already lost money back. Flash was way too naïve. | ||
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M3t4PhYzX
Poland4175 Posts
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RJBTVYOUTUBE
Netherlands809 Posts
https://m.mt.co.kr/renew/view.html?no=2024083012062814873 "An internet broadcaster who was the central figure of 'AfreecaTV Coingate' was sent to trial on fraud charges and sentenced to a heavy sentence. On the afternoon of the 30th, the 11th Criminal Agreement Division of the Seoul Eastern District Court (Presiding Judge Kang Min-ho) sentenced Mr. Seo, who was indicted and detained on charges of violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (fraud), to 15 years in prison. Mr. Seo was sent to trial on charges of recommending victims to invest in virtual assets (coins) or businesses issued by the company he operated and embezzling the investment money. There was also an embezzlement charge of purchasing star balloons from AfreecaTV (now SOOP) with money from the corporate account. It is reported that Seo denied some of the charges during the trial. However, the court determined that Seo used most of the investment money he received from the victims to pay off personal debts or for other purposes, and that he had no ability or intention to issue coins or conduct business and pay out profits from the beginning. The court stated, “Nine cases were merged and tried against the defendant. He admits some of them and does not admit others, but considering the evidence submitted by the prosecutor, he can be found guilty of all of the crimes.” He continued, "The defendant defrauded over 11 billion won in investments from 120 victims," and "Considering the content, method, number of crimes, and period of the fraud, his guilt is very high. We also took into account the fact that the victims are petitioning for severe punishment against the defendant." Seo is also the central figure of 'AfreecaTV Coingate', which became a hot topic in the personal broadcasting industry in 2021. BJs who are known to have invested in unlisted coins through Seo made a public apology to viewers and then suspended their activities for a period of time. Some BJs were met with harsh criticism for promoting coins issued by Seo's company on their personal broadcasts" This paints the picture that Flash(and the other streamers) was a victim and most likely target of the scam from the very start. | ||
[sc1f]eonzerg
Belgium6554 Posts
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RJBTVYOUTUBE
Netherlands809 Posts
On October 20 2024 22:30 [sc1f]eonzerg wrote: This video makes the situation even more confusing. So in the end FlaSh lost around 1 billion won ? He mention that he paid all his career savings. Homie about to steal the id from Soulkey needmoney goddamn. I think it makes the situation less confusing because it matches what the Article about Suit being sentenced to 15 years of prison says. Flash got played by suit and fell for it in every single way possible. Article claims suit never intended to launch a cryptocoin, never even made any preparation to even code it. This creates the scenario where Flash and the others were the target of the scam, not the viewers and fans. I could be wrong but that's what it looks like to me. | ||
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Biff The Understudy
France7883 Posts
Anyways. It’s so good to see him back. I really hope we see him in next SSL. | ||
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HOLYBATS
Turkey726 Posts
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Ideas
United States8087 Posts
On October 20 2024 22:32 RJBTVYOUTUBE wrote: I think it makes the situation less confusing because it matches what the Article about Suit being sentenced to 15 years of prison says. Flash got played by suit and fell for it in every single way possible. Article claims suit never intended to launch a cryptocoin, never even made any preparation to even code it. This creates the scenario where Flash and the others were the target of the scam, not the viewers and fans. I could be wrong but that's what it looks like to me. jeez! I don't get it though, if Suit got successfully prosecuted, where did all the money go? Just laundered away somewhere never to be returned to victims? Damn that really sucks but is also the risk you run betting your savings on crypto. Might as well spend the same amount on lottery tickets. | ||
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TornadoSteve
1013 Posts
On October 20 2024 23:22 Biff The Understudy wrote: I got to say i couldn’t care less about that crypto stuff. If Flash and his fans were naive and stupid enough to go into another get rich quick crypto scam, they honestly deserved to lose their money. Also, since when are StarCraft players financial advisers. Anyways. It’s so good to see him back. I really hope we see him in next SSL. Pas mal , exactement | ||
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Fighter
Korea (South)1531 Posts
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jinjin5000
United States1418 Posts
On October 20 2024 23:22 Biff The Understudy wrote: I got to say i couldn’t care less about that crypto stuff. If Flash and his fans were naive and stupid enough to go into another get rich quick crypto scam, they honestly deserved to lose their money. Also, since when are StarCraft players financial advisers. Anyways. It’s so good to see him back. I really hope we see him in next SSL. he did say he will participate next ssl | ||
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[sc1f]eonzerg
Belgium6554 Posts
On October 20 2024 22:32 RJBTVYOUTUBE wrote: I think it makes the situation less confusing because it matches what the Article about Suit being sentenced to 15 years of prison says. Flash got played by suit and fell for it in every single way possible. Article claims suit never intended to launch a cryptocoin, never even made any preparation to even code it. This creates the scenario where Flash and the others were the target of the scam, not the viewers and fans. I could be wrong but that's what it looks like to me. Yeah tbh this article open the views a bit more. So far we have only been getting the side that flash is a crypto god with a failed scam project to now the guy is an actual victim. i still think some of the stuff he said in that video and the time line is a bit odd. FlaSh is not stupid. I actually predicted his return will be something like that. Hire a pr team to clean his image and then make a comeback. I actually expected him to take the same Bisu aproach. But he (with a pr team. Maybe from Soop ? idk ) prepared this video with different camera angles and shit that will work well with his die hard fans and not even having the need to do what Bisu or others did. I have no doubt that if he start to dominate the scene he will do really well again. And it will be for sure a valuable lesson to FlaSh. | ||
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Lazyer
United States342 Posts
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[AS]Rattus
427 Posts
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