Treasure NFT, a platform that claimed to offer AI-powered NFT trading with high returns, has come under scrutiny following allegations of fraudulent activities. Concerns have been raised about its profit model and referral-based structure, which some experts compare to a Ponzi scheme.
Key Allegations:
🔹 Unrealistic Profit Claims: The platform promised daily returns of 4.3% to 6.8%, equating to nearly 30% in monthly profits—figures deemed unsustainable by experts.
🔹 Referral-Driven Revenue: Treasure NFT's heavy focus on recruiting new users rather than actual trading activity raises concerns about a pyramid scheme structure.
🔹 Suspicious Registration Details: Despite claiming to be based in Tempe, Arizona, investigations found links to a Russian music academy, and some company executives appear to have fake profiles.
In response to these allegations, Treasure NFT has announced a new project, but given the controversy surrounding its previous operations, users are urged to proceed with caution.
NFT Scams on the Rise
Treasure NFT is not alone in facing scrutiny. A recent French NFT project, backed by celebrities, collapsed—leading to a €1.5 million (~$1.66 million) loss for 770 investors. Investors were misled into believing they were co-producing an animated film, highlighting the growing risks in the NFT space.
These incidents serve as a reminder for investors to conduct thorough research before engaging in NFT and crypto projects.
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