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Is SASEUL a Scam or a Pyramid Scheme? What Public Sources Show

· Updated · Myth check

#ScamAlert

SASEUL myth check, part 6

SASEUL is a blockchain that actually runs. I found no grounds to call it a scam. Be careful when buying or selling

What people say (2024 online forums)

“It looks like a pyramid scheme or scam coin”

Checked against public sources

No scam grounds found

  • Record book grows every day
  • Anyone with an NVIDIA graphics card can mine
  • No ICO or presale (project description)
Checked against public sources up to September 27, 2026 and a 28-day run on one graphics card. Not a guarantee that it's safe. Weak spots like the non-public blueprint are in the post too.

SASEUL is a blockchain that actually runs. As of September 27, 2026, I found nothing in public sources that gives grounds to call it a scam. That's not a guarantee that it's safe. The record book really is growing, and anyone with an NVIDIA graphics card can mine it. The project description says there was no ICO or presale and every coin came from mining.

There are weak spots, though. The blueprint of its core program isn't public, and a news article says it was given an E grade. The place to watch out for scams is buying and selling SASEUL coins.

What were people saying?

ddengle.com and Clien are Korean online forums where people talk about coins. Posts like these went up there. They're all the personal opinions of whoever wrote the post or reply, not confirmed facts.

February 25, 2024, ddengle mining board · "안녕하세요 사슬코인에 대해 질문드려요" ("Hi, a question about SASEUL coin")

March 6, 2024, ddengle free board · "유튜브에 보면 몇 보였던 사슬코인?…" (a post asking about SASEUL coin, title in Korean)

May 12 to 13, 2024, Clien crypto board · "혹시 사슬 아세요?" ("Anyone know SASEUL?")

Does SASEUL actually run?

Yes, the record book runs. Some things can be checked on the official SASEUL block explorer (the official site that lets anyone look at the record book).

What checks out Where it was checked
The SASEUL record book still grows every day. As of 9:23 a.m. on September 27, 2026: 4,404,682 transaction record book pages, 10,843,603 transactions Official explorer statistics screen, 2026-09-27 09:23
Anyone with an NVIDIA graphics card can mine it. There's a 28-day record from one graphics card One-month mining record
Records of a mining pool (a group that mines together and splits the coins) sending out SASEUL coins (SL) stay in the record book Official explorer

At the very least, it isn't a setup where "there are no coins and they just take the money." The record book keeps growing. Coins mined with a graphics card reach the miner through the pool.

SASEUL Miner screen mining SASEUL. The numbers in the hashrate (calculating speed) and accepted shares boxes are blurred (they were about 860 MH/s and about 32,000)
Mining screen on one graphics card, about 4 days in (September 15). The wallet address and exact numbers are hidden.

The roughly 860 MH/s in this record (the numbers on the screen are blurred) is the hashrate (calculating speed). It means more than 800 million guesses a second. Like scratching more than 800 million lottery tickets every second.

What facts give reason for suspicion?

Fact Where it was checked
The blueprint (source code) of the core program that builds the SASEUL record book isn't public Part 5, checked 2026-09-23
Promo numbers like "1000 times faster than Bitcoin" can't be confirmed today Part 4
A news article says 한국가상자산평가인증원 (Korea Virtual Asset Evaluation & Certification) gave SASEUL an E. The article says it grades from A to E Asia Today, 2023-10-19

With a blueprint that isn't public and promo numbers that can't be confirmed now, being suspicious isn't strange. Still, these mean information is missing. That's not the same as evidence of a scam.

I couldn't find the grading criteria for that E in public sources. On September 27, 2026, the 한국가상자산평가인증원 website (daek.kr) didn't open because of a security certificate error.

What can't be confirmed?

There were three stories: people putting money into a company, videos of talks plus older people getting pitched a lot, and a holder's contact details. Whether these really happened can't be checked with public sources.

If they did happen, who did them is also unknown. So this post doesn't call them true or false.

Was there an ICO or presale?

CoinMarketCap is a site that gathers information on coins from around the world. The SASEUL project description there says there was no ICO (selling coins up front to raise money) and no presale (selling before launch). It also says nothing went to the team or investors first. Every coin comes from mining.

That's the project's own description. If it holds, all SL being bought and sold today came from mining.

Where is it bought and sold now?

Getting a coin onto a market where coins are bought and sold, an exchange, is called listing. Going through the official SASEUL notice channel up to September 27, 2026, the only listing confirmed by a notice was BitMart in May 2025. But BitMart stopped all trading on August 26, 2026 (BitMart's notice).

With no official exchange right now, OTC trading (people buying and selling directly, not through an exchange) seems to be going on. On September 27, 2026, the trading boards of two Naver Cafes (Naver is Korea's biggest web portal, and its "cafes" are online community boards) both had sell posts from that same day: "사슬EX" (SASEUL EX, cafe.naver.com/saseulex) and "사슬 크립토 커뮤니티" (SASEUL Crypto Community, cafe.naver.com/saseullabs). A person-to-person trading board, saseulp2p.kr, also had sell posts from late July to August 15, 2026. This doesn't mean the people running these places did anything fraudulent. It means trading between individuals comes with things to watch out for.

The official SASEUL team didn't point people to these cafes or to saseulp2p.kr. As of September 27, 2026, neither the official notice channel (#1 to #84) nor the links on the official site (saseul.com) mention these places. saseulp2p.kr itself says it isn't an exchange, and that it doesn't broker or guarantee trades or hold coins or money.

There's more on listings in the Getting listed soon? post.

Where do you need to watch out for scams?

Not the SASEUL record book or mining, but buying and selling SASEUL coins. With no official exchange, people hand money and coins to each other directly. So watch out for these.

Official SASEUL notice #68 (September 22, 2025) also said many people lost money because of false information and egging-on around the hard fork. Who was behind it can't be confirmed from public sources. This doesn't mean there were scams on the cafes or trading board mentioned above. Wherever you buy, check the same way.

What did the check find?

The saying: "SASEUL looks like a pyramid scheme or scam coin."

What checks out now: SASEUL is a blockchain that actually runs. As of September 27, 2026, I found nothing in public sources that gives grounds to call it a scam. That's not a guarantee that it's safe. Anyone with an NVIDIA graphics card can mine it. The project description says there was no ICO or presale and every coin came from mining.

The weak spots are real too. The blueprint isn't public, and promo numbers like "1000 times faster" can't be confirmed today. There's also an article saying 한국가상자산평가인증원 gave it an E. I couldn't find its grading criteria in public sources.

With no official exchange right now, people seem to be trading it among themselves (OTC) on places like Naver Cafe boards and saseulp2p.kr (checked September 27, 2026). The official team didn't point people to these places. That doesn't mean these places are scams.

The place to watch out for scams is buying and selling coins, not the SASEUL record book. Don't follow pitches that say a company will grow your money if you hand it over.

Sources

That's seven myth checks in all. Previous: Does SASEUL Have No Block Explorer and No Listing on Coin Sites? · Next: How Are SASEUL, Xphere, Seoul Labs and ZIGAP Related?

For an overview, see the "Things that are often stated wrong" table on the SASEUL basic facts page. If you'd like to try mining, start with how to set it up.

Finished reading? These go well with it