PlatinCoin Ponzi rebooted as PlatinWorld with PLC Ultima
The PlatinCoin Ponzi scheme has been rebooted as PlatinWorld.
PlatinCoin was a Ponzi scheme launched in 2017 by Ponzi promoter turned founder, Alex Reinhardt.
Reinhardt modeled PlatinCoin on the collapsed SwissCoin Ponzi, which he was a top net-winner in.
That’s Reinhardt on the left, celebrating theft of €94,000 EUR from SwissCoin investors.
Launched as your typical Ponzi points come public exchange exit-scam later, here’s how PlatinCoin went after it was dumped on exchanges:
By early to mid 2021 recruitment of PlatinCoin victims had slowed such that Reinhardt decided to reboot his scam.
Enter PlatinWorld, whose website domain “platinworld.com” was registered on June 23rd, 2021.
After a few months of setting up PlatinCoin’s reboot, PlatinWorld was officially announced in Dubai in November 2021.
While PlatinCoin’s website is still up, effectively the Ponzi scheme was abandoned in favor of PlatinWorld.
PlatinWorld saw Reinhardt launch a new Ponzi coin to scam people with, PLC Ultima.
Evidently aware Ponzi scam reboot coins tend to fare worse than their predecessors, PLC Ultimate currently has a hilarious public trading value of almost $60,000.
You can see the manipulation began around November, pegging PLCU to around $20,000. That’s increased and been fine tuned to the current $58,684 value.
Should anyone withdraw even a modest amount of held PLCU, or the wash trading bot is turned off, the subsequent dump will be pretty epic.
Beyond wanting to reboot his Ponzi coin, Reinhardt’s marketing story behind PlatinWorld is pretty lazy.
A community for enthusiasts of disruptive blockchain technology
Our technical team is actively analyzing the crypto market and developing their own unique solutions which have helped people all around the world to transform their lives!
On the promotional side of things, based on website traffic estimates from Alexa, PlatinCoin bagholders are in Germany (24%), India (17%) and Mongolia (14%).
Although it was launched in late 2021, PlatinWorld recruitment only picked up around January 2022. As per Alexa web traffic estimates again, PlatinWorld is being pushed in Germany (24%), Russia (17%) and Mongolia (14%). Not sure why India dropped off in favor of Russia.
There’s no direct mention of MLM on PlatinWorld’s website, but it appears PlatinCoin’s MLM opportunity has been carried over:
The top scammer promoting PlatinWorld is German citizen Elias Pape.
Pape jumped into Ponzi scamming from Kyani. He was with Alex Reinhardt in SwissCoin and jumped over to PlatinCoin at launch.
Together with Reinhardt, Pape appears to have fled Germany for Dubai.
Dubai is the MLM scam capital of the world. Due to limited extradition agreements and non-regulation of MLM related securities fraud, the emirate provides a safe-haven to scammers.
With respect to MLM due-diligence, any company, executive or promoter operating out of Dubai raises an automatic red flag.
For the time being gullible PlatinWorld investors are likely being recruited on PLCU’s manipulated public trading value. It looks good on paper but obviously isn’t backed by anything.
Be it scammers like Elias Pape cashing out PLCU or PlatinWorld recruitment collapsing (again), PlatinWorld’s house of cards crashing down will result in the majority of investors losing money.
Update 23rd May 2022 – A reader wrote in to ask about “Ultima Farm”, running from “ultimafarm.com”.
Ultima Farm is part of Reinhardt’s PlatinWorld Ponzi scheme.
Through a smart-contract, investors are promised
monthly minting over the course of 12 to 36 months. The process is entirely on the PLC Ultima blockchain.
Specific PLC Ultima investment terms are not provided.
Ultima Farm is being run through Platinex LLC, a Georgian shell company.
This WILL crash sooner or later. What does a high prize of that “Coin” say when there is just no liquidity?
Enlightening.
Just popped by at coinmarketcap… PLC Ultima has a fully diluted market cap just short of 1.2 Trillion USD. That’s more than Bitcoin and Ether. This is something like the GDP of Australia…. sorry for your loss, Oz 🙂
This project is just a month old. By the end of the year, they’ll buy the planet. Twice. Plus the moon.
I mean, c’mon, the guys who invest there must still believe in Santa. I’m beginning to feel less empathy in the face of so much stupidity….
BRB, selling BehindMLM to invest in PLC Ultima…
Your whole write up is full of hate and lack good analysis
PLCULTIMA is Launched and currently been traded on Coinsbit, Bibox and LBank…Do your research well before doing a write up that doesn’t hold any water
Cool story bro. Has nothing to do with PlatinWorld and PLC Ultima being a collapsed Ponzi reboot scam.
Sorry for your loss.
WHO still believes in such fairy tales in 2022?
90 million% price increase, 720% returns, 70% commissions, 50% on all luxury goods, 15 Billion Market Cap, … HELLO?
Every child must see that this MLM can never work! We are here at coinsbit, not coinbase – bibox, not binance! In a few months it will be “GAME OVER” again and they will release the third coin.
To all new networkers of PLCU: HOW can you be so unscrupulous, and drag your best friends into it?
This story will destroy many families again and at the end, all claim to have known nothing.
I’m here as a result of performing due diligence and researching on the PLC Ultima so I came across this post and people’s comment.
I am being careful not to mislead myself or others in investing on this.
I have been into this online investing stuff since 2007 so I know what it takes to lose money and trust.
With the way things are, it’s 50/50.
Mate, PlatinCoin is literally a reboot Ponzi scheme run by a serial Ponzi scammer.
Ohhh, you’ve been stealing from people for over a decade. Yeah ain’t nobody interested son. Best of luck with the scamming.
Oz Wrote:
No! Read my comments again. I mean to say I have known and started doing online investment i.e. those days it’s called HYIP (High yield investment program).
I have lost money more than I gained which is why I was researching PLCU to be careful not to lose money before coming across this article.
So I’m not scamming or asking anyone else to invest in PLCU.
Please always read well and understand before commenting.
HYIP is scam speak for Ponzi scheme.
You claim to have lost more money than invested in Ponzi schemes since 2007, and you’re still looking to invest in them?
ProTip: the bullshit you feed your victims won’t work here.
@OZ
You write like someone who doesn’t think and is frustrated. I’m not asking anyone to invest in anything. I myself was researching as I mentioned in my first comment before coming across this article, why because I heard about it (PLCU)recently.
When I first heard about crypto currency I did research. My reason for researching anything is as a result of bad experience I heard in those days…
So my comment here is simple. Not investing in it or asking anyone to. So stop making unnecessary noise like an empty barrel.
Samuel, stop getting involved in ponzis.
@Samuel
I didn’t claim you were. I called you out on the false statement that there’s a 50% chance PlatinWorld isn’t a Ponzi scheme.
You then revealed a decade long history of participation in Ponzi schemes. So long as we’re clear PlatinWorld is a Ponzi scheme, we’re good.
Hi there.
There seem to be PLCU debit cards use and ATM extraction demos popping up on YouTube. Does anyone know how they manage to pull that off?
Do they make it seem like you are using PLCU coins behind the scenes but just have a pool of $ from which they credit the user and then discount the equivalent PLCU?
Maybe the cards are printed from a financial service that allows personalised images?
Any insight would be appreciated.
Thanks!
Typically through a bogus shell company and dodgy merchant.
I can guarantee you the merchant has nothing to do with PLCU. PlatinCoin keeps their merchant account funded in fiat.
Any conversion is done inhouse (PLCU = monopoly money in the backoffice).
I had prepared to borrow to invest, until I saw this post.
This is an eye-opener.
Thanks Oz. That makes sense and is what I suspected. However it still baffles me they can get on to the debit card wagon. I thought you needed an alliance with VISA/Mastercard to get a card to work worldwide…
Any other input still appreciated!
And another quesiton that also is mind-boggling… how do they manage to get listed on CoinMarketCap?
Is it because CoinMarketCap just automatically lists what is on exchanges? In this case the dodgy Lbank, Bibox and Coinsbit where they seem to running their bots for the trading?
Thanks again!
All you need is a Whitelabel card processor and MONEY.
The dodgy merchants they sign up with are typically in dodgy jurisdictions too.
VISA/Mastercard are none the wiser until money laundering safeguards are triggered (no guarantee they will be).
The exchanges are even more dodgy. Shitcoin plus dodgy exchange = CMC listing.
Pls how come the coin is listed on coinbase?
Because getting a shitcoin listed on crypto exchanges is ea$y.
It is not a measure of legitimacy.
Money.
You should rather ask why they can bother with exchanges but not with running a legal business.
Short answer: Only 1 of these helps them make money. Why spend money to audit and register if they know victims will sign up till they exit-scam – obviously they know they’re scamming.
what is a shit coin.
From Investopedia:
Shit coins are often set up on the Ethereum chain (ERC20), at little effort or cost, and promoted by scammers as either a ground-floor opportunity to invest in or as a way for their victims to cash out of some earlier investment scheme that has collapsed. (The latter is called a “shit coin exit scam”).
No one outside the scheme has any interest in the coins (or tokens), so the coins have zero value.
Investors are left holding a virtual bag of worthless tokens: they are, as Oz calls them, “bagholders”.
Video from May 5, 2022:
share-your-photo.com/52d6ecad32
A graphic from the video:
share-your-photo.com/2b3e0d913a
youtu.be/nY31SaQ2n0c?t=275
Who uploaded this video? The well-known serial scammer Udo Carsten Deppisch on his channel UCD BIZ.
share-your-photo.com/e92dfb4ad5
youtube.com/watch?v=nY31SaQ2n0c
Even their address here in Hong Kong is fake.
PLCU is obviously and clearly the same scam as PLC, Swisscoin and Onecoin.
When Alex was still selling Swisscoin, Swisscoin adopted the terms and conditions from Onecoin 1:1.
They are basically all improved snowball copies of the Onecoin.
Onecoin may have been the biggest crypto scam of all time, followed by Bitconnect.
Some of those who invested in PLCU first (about the first 2 months) quintupled their investment.
These people pass it on and thereby force the Ponzi scheme.
The huge crowd that always comes later finances the horrendous profits of the first.
Someone cashed out of PlatinWorld throughout April and May: $108,065 April 5th –> $19,992 6th June.
PLCU’s value is BS but the cashing out is real. RIP newly recruited PlatinWorld
affiliatesbagholders.