Platin World, Alex Reinhardt’s Ponzi scam, has failed.
Nothing appears to be wrong based on a look at Platin World’s website and social media accounts. Instead, the collapse was announced to investors via PLC Ultima’s official Telegram channel.
According to a post on the PLC Ultima – English Telegram group on November 29th;
PLCU withdrawals and coin transfers between wallets will be halted on mobile apps due to critical system training work.
The crew may need up to two weeks to accomplish everything. All PLCUX procedures, including payments and transfers and contract entry, are carried out as normal. PLCU transfers are only possible to and from your own farm.
Furthermore, all payment options, including PLCUX and PLCU exchange, as well as PLCUX, BTC, and USDT withdrawals, are still available.
Existing withdrawals that have not yet been cashed out are still accessible; fresh withdrawals are “frozen.”
Christmas is generally a period when Ponzi schemes see a rush of withdrawals, thus the collapse of PlatinWorld is not coincidence.
The aim appears to be to halt withdrawals for a few weeks while hoping for enough new funding to keep PlatinWorld running till 2023.
And Alex Reinhardt might just be able to pull it off.
In October 2022, SimilarWeb recorded 1.4 million visitors to Platin World’s website, up from 647,000 visits in September.
Platin World’s website traffic is composed of 21% Germany (flat), 18% Portugal (up 132% month on month), 11% Italy (down 50% month on month), and 11% Russia (down 39% month on month).
Platin World recruiting is booming in Switzerland, in addition to Portugal. Keep in mind that this is from October, and Platin World recruiting may have ceased since then.
Whatever is flowing into Platin World is certainly insufficient to fund withdrawals – and as a Ponzi scheme, Platin World’s withdrawal obligations will only worsen.
Platin World is an updated version of Reinhardt’s PlatinCoin Ponzi scam. The same ploy, but distinct Ponzi coins: PLCU and PLCUX.
Platin World’s typical Ponzi pump and dump is linked to PLCU. PLCUX is used for Ultima Farm investment contracts ranging from 12 to 36 months.
PLCU has been significantly manipulated by bot trading, with an initial push of $104,805. That happened in April. Due to Ponzi withdrawal pressure, PLCU’s artificially inflated value has subsequently fallen to $1288.
Platin World investors discovered on November 29th that the true worth of PLCU is $0. PLCU can only be revoked for whatever nonsense sum Alex Reinhardt says so.
Reinhardt (right), a German national, fled to Dubai when PlatinCoin went bankrupt.
Dubai is the world’s MLM crime capital. Many MLM Ponzi schemes and the crooks that manage them find refuge in the emirate.
Platin World has thus far only piqued the interest of Mongolian regulators. When it comes to regulating MLM-related securities fraud, German regulators, including BaFin, are notoriously lax.