Key Takeaways
Global NFT Group – a new project with a questionable proponent.
Kari Wahlroos has been involved with several cryptocurrency scams.
Scam Alert! Investing in Global NFT Group Could Turn Nightmarish Read CoinChapter.com on Google News
YEREVAN (CoinChapter.com) – Global NFT Group (GNG) and its new Penguin coin (PNGVN) functions similarly to a fiat investment fund. The company claims to ensure long-term revenue management for the GNG community by governing their portfolios within the NFT and cryptocurrency sectors.
Global NFT Group Full of Red Flags
Global NFT Group’s website has not provided a roadmap for development nor the use case of its native token, GNG. Instead, the project’s advocates shill the coin on social media, promising “5x rewards” come listings without providing legitimate company audits — a red flag for early investors.
Meanwhile, GNG has a proponent previously connected to several scam projects within the crypto community – Kari Wahlroos.
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Wahlroos promotes the GNG project on his Facebook, Twitter, and Instagram. He claims to be a “Network professional” but is not listed on the GNG official team. However, Wahlroos’ previous affiliations raise questions about his objectivity.
The self-proclaimed “mighty eagle” has been a marketer for the infamous OneCoin. Tens of thousands of investors were caught up in the scam, according to confidential documents seen by local news outlet YLE in Finland.
The coin grossed over 40 million euros over the first two years of its operations between 2014 and 2016. However, the company made headlines in 2017 when its founder, “crypto queen” Dr. Ruja Ignatova, disappeared without a trace leaving investors to deal with the alleged Ponzi pyramid scheme.
In 2019, Ruja Ignatova’s brother Konstantin Ignatov pleaded guilty to fraud and money laundering in connection with OneCoin. Some estimations pin the overall scheme at approximately $4 billion.
His other pet project – GetOn Global, a crypto startup in Slovenia, also attracted “scam” accusations in 2020. The website is currently down but claims to be on “scheduled maintenance.” “Your funds are safe,” says the team unconvincingly, and adds that the website is expected to be “back soon.”
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Wahlroos has been involved with other suspicious projects, such as Wantage One. His questionable judgment and pursuit of personal gain cast a shadow on GNG before launching the PNGVN token.
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