What Is TreasureNFT?
Launched in 2024, TreasureNFT claimed to supply month-to-month returns of 30% by way of synthetic intelligence-driven NFT trading. It focused new buyers with gives like:
- 4.3% to six.8% return per $100 invested
- Extra rewards for referring new customers
- Quick withdrawals inside 3 days (initially)
However now, the story has modified. The platform has frozen most consumer withdrawals. Tons of of customers say they’re unable to get their cash out.
Early Pink Flags
A number of warning indicators have been already there. Critics identified the platform seemed extra like a Ponzi scheme than an actual funding service. Right here’s a breakdown of what raised suspicions:
|
Pink Flag |
Description |
|
Unrealistic returns |
Promised as much as 30% month-to-month, which could be very unusual in actual buying and selling |
|
MLM construction |
Inspired customers to herald others for bonus payouts |
|
Delays in withdrawals |
Payouts moved from 3 days to over per week, then stopped utterly |
|
Guide withdrawal system |
Required varieties, charges, and technical steps that hardly ever led to success |
|
Pretend staff profiles |
Analysts discovered LinkedIn pages with no actual connections or historical past |
Customers Share Their Struggles
Many customers at the moment are talking out. Some have been early buyers who did obtain returns. They now consider these payouts have been made solely to draw extra folks. As extra investors joined, the platform appeared to decelerate and finally stopped processing withdrawals.
One consumer, Maninder Dhiman, mentioned he couldn’t even log into his account anymore. Error messages saved showing each time he tried to entry his funds.
TreasureNFT Responds
In response to the backlash, TreasureNFT posted updates on X. They claimed the handbook withdrawal course of was launched for “platform sustainability and safety.”
They shared some information to clarify the delays:
- Complete withdrawal varieties submitted: 1,887
- Profitable withdrawals: 121
- Success charge: Solely 6.4%
The remaining have been both rejected attributable to “errors” or are nonetheless pending. Many customers say the method is simply too sophisticated and appears like an excuse to dam payouts.
TreasureNFT’s story will not be distinctive. Crypto scams have been on the rise. A report by blockchain security firm Cyvers discovered that over $5.5 billion was misplaced to rip-off tasks final yr. Many of those observe the same sample:
- Promise excessive returns
- Use complicated tech jargon (like AI, blockchain, NFTs)
- Push referral-based progress
- Delay or block withdrawals after sufficient cash is collected
As of now, the TreasureNFT web site remains to be on-line, however browsers warn customers it’s unsafe. The platform’s Telegram group, as soon as lively with over 419,000 members, hasn’t posted something since March 30. It has additionally been flagged as a rip-off by customers.
Should you’ve invested in TreasureNFT or any related venture, it’s essential to remain alert. All the time do deep analysis earlier than placing cash into platforms that promise quick and excessive returns.