Accusations of a cryptocurrency scandal have caused turmoil in the South Korean entertainment sector. According to reports from local sources, a well-known blockchain platform in the country is being accused of a coin scam involving well-known figures in the Korean entertainment industry. For more information, read about South Korea’s FIU revealing a plan for cryptocurrency exchanges by 2024. Winnerz is being accused of committing coin fraud. The Korean Herald published a report on February 13th alleging that Winnerz, a Korean blockchain sports platform with multiple operations, is facing accusations of fraudulent activities. The platform has been accused of engaging in a fraudulent scheme involving cryptocurrency and blocking investors from withdrawing their funds. Anonymous investors allege that the company has been distributing counterfeit digital currency, collecting investments, and restricting investors from accessing their funds. At the time of writing, the exact sum of money collected and not returned to investors is uncertain. The crypto scam case was reported to the National Policy Agency on February 5 after being reported to the Korean National Civil Service. Winnerz is accused of enlisting celebrities to bolster the cryptocurrency’s reputation and entice investors, among other fraudulent activities. Famous individuals involved in this business could either purchase the coin directly, assist in attracting investors in exchange for a fee, or do both. In 2022, a comparable situation received significant media attention when prominent celebrities and athletes began promoting EthereumMax (EMAX) on various social media channels. The primary individual involved was Kim Kardashian, a Reality TV personality and socialite. She was compensated $250,000 to endorse the token to her 328 million followers in 2021.