Bitcoin Platinum under the codename BTCPLT was planned to be a fork of the Bitcoin blockchain that should have occurred at block height 498,533 on December 12 of 2017.
JoongAng, a South Korean daily newspaper published in Seoul and the most popular South Korean mainstream media resource, reported that Bitcoin Platinum case was investigated and it turned out to be a scam developed by a teenager from South Korea.
ANN: We found a critical problem at syncing process and therefore the fork will inevitably be delayed to block num. 500000. This occurred because we implemented the btc1 core source codes and it is exactly the same problem with it.
— Bitcoin Platinum (@bitcoinplatinum) 10 December 2017
On December 10, the twitter account under the name Bitcoin Platinum posted a message stating that a critical issue at syncing process was found and the fork is to be delayed to block number 500,000.
The tweet about a delay prompted many people to sell. After investigation, it was found that the operator of the Twitter account was a high school student in Korea and all the information described by “Bitcoin Platinum” was a scam to manipulate bitcoin prices.
Korea JoongAng Daily
At the moment of press, these are main market parameters of Bitcoin:
- Average price: $16 620.20
- Marketcap: $278 124 088 820
- 24h volume: $13 156 000 000