What Is TreasureNFT?
Launched in 2024, TreasureNFT claimed to supply month-to-month returns of 30% by synthetic intelligence-driven NFT trading. It focused new buyers with presents like:
- 4.3% to six.8% return per $100 invested
- Further rewards for referring new customers
- Quick withdrawals inside 3 days (initially)
However now, the story has modified. The platform has frozen most person withdrawals. Lots of of customers say they’re unable to get their cash out.
Early Purple Flags
A number of warning indicators had 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:
|
Purple Flag |
Description |
|
Unrealistic returns |
Promised as much as 30% month-to-month, which may 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 every week, then stopped utterly |
|
Handbook withdrawal system |
Required kinds, charges, and technical steps that hardly ever led to success |
|
Pretend group profiles |
Analysts discovered LinkedIn pages with no actual connections or historical past |
Customers Share Their Struggles
Many customers are actually talking out. Some had been early buyers who did obtain returns. They now consider these payouts had been made solely to draw extra folks. As extra investors joined, the platform appeared to decelerate and ultimately stopped processing withdrawals.
One person, Maninder Dhiman, mentioned he couldn’t even log into his account anymore. Error messages stored showing each time he tried to entry his funds.
TreasureNFT Responds
In response to the backlash, TreasureNFT posted updates on X. They claimed the guide withdrawal course of was launched for “platform sustainability and safety.”
They shared some knowledge to elucidate the delays:
- Complete withdrawal kinds submitted: 1,887
- Profitable withdrawals: 121
- Success fee: Solely 6.4%
The remaining had been both rejected as a consequence of “errors” or are nonetheless pending. Many customers say the method is simply too difficult and looks 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 initiatives final yr. Many of those observe the same sample:
- Promise excessive returns
- Use complicated tech jargon (like AI, blockchain, NFTs)
- Push referral-based development
- 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.
When you’ve invested in TreasureNFT or any comparable undertaking, it’s essential to remain alert. All the time do deep analysis earlier than placing cash into platforms that promise quick and excessive returns.
