Beware of PlatinCoin & PlatinWorld – Review

PlatinWorld is the relaunched version of the PlatinCoin Ponzi scam.

In 2017, Alex Reinhardt, a former Ponzi marketer turned startup, introduced PlatinCoin.

Reinhardt based PlatinCoin on the defunct SwissCoin Ponzi, in which he ranked as one of the top net winners.

Reinhardt is shown there on the left, reveling in the theft of $94,000 from SwissCoin investors.

Here is what happened to PlatinCoin after it was dumped on exchanges when it was initially launched as your usual Ponzi point come public exchange exit-scam:

Reinhardt planned to restart his con after PlatinCoin victim recruiting had stalled by early to mid-2021.

On June 23, 2021, the website domain “platinworld.com” was registered by PlatinWorld.

PlatinWorld was formally introduced in Dubai in November 2021 after a few months of preparation for PlatinCoin’s revival.

Although PlatinCoin’s website is still active, PlatinWorld has replaced the Ponzi scam.

Reinhardt introduced a fresh Ponzi currency to con people with, PLC Ultima, at PlatinWorld.

PLC Ultimate presently has a funny public trading value of approximately $60,000. This is probably because it is aware that Ponzi scheme reboot coins often perform worse than their predecessors.

The manipulation, which pegged PLCU to about $20,000, can be shown to have started about November. It has been adjusted and raised to the current amount of $58,684.

The ensuing dump will be rather epic should someone withdraw even a little quantity of retained PLCU, or if the wash trading bot is disabled.

Reinhardt’s marketing strategy for PlatinWorld is somewhat slack, other than his desire to revive his Ponzi coin.

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According to Alexa website traffic estimations, the top three promoting countries for PlatinCoin are Germany (24%), India (17%), and Mongolia (14%).

PlatinWorld was launched in late 2021, but recruiting didn’t take off until approximately January 2022. PlatinWorld is being promoted in Germany (24%), Russia (17%), and Mongolia (14%), according to new Alexa web traffic figures. I’m not clear why Russia overtook India in the rankings.

Although PlatinWorld’s website makes no explicit mention of MLM, it appears that PlatinCoin’s MLM potential has been carried over:

Elias Pape, a citizen of Germany, is the main con artist marketing PlatinWorld.

Pape joined the Kyani Ponzi scheme. He joined SwissCoin alongside Alex Reinhardt and switched to PlatinCoin after launch.

Pape appears to have escaped Germany for Dubai with Reinhardt.

The world’s MLM fraud capital is Dubai. The emirate offers fraudsters a sanctuary because of the few extradition agreements and lack of regulation of MLM-related securities fraud.

Any business, executive, or promoter operating out of Dubai immediately raises a cautionary signal in terms of MLM due diligence.

PlatinWorld investors are probably being lured in for the time being by the falsified public trading value of PLCU. It appears excellent on paper but is blatantly unsupported.

The majority of investors will lose money when PlatinWorld’s house of cards collapses, whether it be due to con artists like Elias Pape cashing out PLCU or PlatinWorld recruiting failing (again).

Updated on May 23, 2022 – A reader inquired about “Ultima Farm,” which operates from “ultimafarm.com,” in a letter.

A component of Reinhardt’s PlatinWorld Ponzi scam is Ultima Farm.

A smart contract makes promises to investors.

minting every month for a period of 12 to 36 months. The PLC Ultima blockchain is used only for the procedure.

Investment terms for PLC Ultima are not specified.

Platinex LLC, a Georgian front company, is managing Ultima Farm.

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