Lee Cheon-soo NFT Controversy and Coin Fraud Scandal Explained

2024-02-11 08:55:00

Former soccer player Lee Cheon-soo explained his involvement in coin fraud.

On the 11th, Lee Cheon-soo said to the YouTube channel ‘Lee Cheon-soo’ community, “I will tell you regarding the currently controversial NFT of Lee Cheon-soo soccer shoes issued in August 2021. Around April 2021, I was introduced to a junior soccer player by an acquaintance. After several meetings, I heard that the direction of GDG (Golden Goal) business is to combine the hosting of soccer youth competitions with NFT.” “GDG proposed issuing Lee Cheon-soo’s soccer shoes as an NFT product, and it was an event rather than an auction or buying and selling.” They said it would be paid through a lottery based on last name. “We were allowed to use the image rights only for that event, and as far as I know, they were actually paid out through a lottery.”

“Around September 2021, I saw it promoted as a collaboration with me on the GDG website and Instagram. I protested to GDG for unauthorized use of content that was not agreed upon and asked them to ‘take down all content related to me.’ After GDG accepted this issue and took down all posts, we did not engage in any business collaboration with the company. I would like to clearly state that I have no relationship with GDG other than the above. It has no connection whatsoever with the coins issued by GDG.”

Lee Cheon-soo said, “At our first meeting, a picture was taken without my knowledge,” and “I never said anything like ‘Lee Cheon-soo will do his best’ that was going around in the group chat room. I later found out through a tip that such a group chat room was in operation. He emphasized, “Anything related to the captured photo is not true.” “The location of the photo where I am singing was simply an acquaintance’s birthday party in a party room,” he said. “The event was small and only acquaintances attended without any outsiders. This has nothing to do with the rumors spreading on the Internet, so please refrain from making speculations. “I’m sorry for causing you concern,” he said.

The day before, YouTube channel Garosero Research Institute pointed out that the main culprit of the Winners Coin incident had previously extorted investor money with GDG Coin. “What was right before Winners Coin was GDG Coin. Who was the GDG Coin promotional model? “It is Lee Cheon-soo,” he said. “GDG Coin disappeared without a sound. “Only those who invested were defrauded,” he claimed. In addition, Lee Cheon-soo released a photo of himself singing at a karaoke room. He added that following GDG received investment money from people, he extorted money by locking up the coins and preventing them from being freely retrieved.

GDG is a soccer platform app operated by Golden Goal. Introduced a 2021 soccer non-fungible token (NFT) marketplace. Lee Cheon-soo’s soccer shoes, a key player in the 2002 Korea-Japan World Cup, were released as the first NFT. Recently, as suspicions arose that Winners Coin was a scam coin that illegally attracted investment, GDG Coin was also mentioned. YouTuber Oking denied having invested in this company, but later admitted it. Comedian Ra Seon-wook and ‘Short Boxers’ Kim Won-hoon and Cho Jin-se have denied the investment suspicions.

Winners CEO Jeong Young-kwon said on the 6th, “We would like to reveal that some YouTubers have recently mentioned or broadcast suspicions of Winners Coin fraud or connections with criminal organizations, and that these are all groundless and false facts.” It is also not related to ‘Sangnam Co., Ltd.’ He drew a line, saying, “There is absolutely no multi-level marketing or pseudo-receipt practices.”

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