Bitcoin Platinum is a fraud made by teenager

An entertaining example of the market manipulation has lately become known to public. According to the cryptocurrency media, a South Korean teenager tried to decrease the price of Bitcoin by creating a fake cryptocurrency project called Bitcoin Platinum. To do so, he started to publish posts from the @bitcoinplatinum Twitter account with promises about the HF (hard fork) starting after block 498,577.

This fraudster also created a GitHub account where he posted promotional materials instead of actual source code of the cryptocurrency. “The future shines brightly with permissionless innovation”, which is going to benefit “merchants and users”, told one of such materials. But realizing his project was failing, because the community pointed out the vagueness of both the dev team and technology, the fraudster started to write in Korean informally in the same Twitter account. In one of such tweets in Korean he admitted the whole project is a scam to get five million korean von ($4,590).

The information about the scammer being a teenager comes from the local media, but sadly, no photo has been provided.