Assalam-o-Alaikum, Pakistan! Umer here, and as I feared, the Treasure NFT saga has taken a turn for the worse.
There’s a backstory on this, and yes, a family story.
One of many cousins invested in Treasure NFT and he recommended me to do the same.
It smelled fishy to me, but he told me that he created 2 accounts after he got paid by Treasure NFT and is confident that this company will never runaway.
However, after I checked their website and the way they represented everything, I got the clue that it is nothing but another scam project.
So I never invested anything in it but yet another cousin did, and here I am writing about it to alert all of you.
Remember how I said it smelled fishy? Well, the stench is unbearable now.
They’ve rebranded to TreasureFun, and the news is grim, they are asking more money for withdrawals, stay with me so you will understand what I am talking about.
You know me, I like to keep it real. And what’s been happening with this “investment” smells fishier than Karachi’s fish market on a hot day.
People have been throwing around big words like “NFTs” and “blockchain,” but under the hood, it looks like a classic Ponzi scheme.
Wait a minute,
What’s a Ponzi, you ask?
Let me explain:
You get paid, not from actual profit, but from the money of new people joining.
Early birds get the worm, but the latecomers? They get the shaft.
Here’s why Treasure NFT (now Treasure Fun) is screaming SCAM?
Read this carefully and you will understand how such schemes work and why I am saying that TreasureNFT is totally a scam company:
- Crazy Returns: They’re promising returns that would make even Bill Gates blush. If it sounds too good to be true, yaar, it probably is.
- Recruit, Recruit, Recruit: The focus is more on getting new members than on, you know, actually making money.
- Where’s the Proof?: They talk about NFT transactions, but where’s the receipts? No verifiable contract addresses? Yeh kya hai?
- People are Screaming Scam: I’m not the only one smelling trouble. People are begging Google to take down their app, calling it a “Ponzi scam.”
- SECP is on High Alert: Our own Securities and Exchange Commission of Pakistan has been warning about these kinds of schemes. They haven’t named Treasure NFT directly, but their warnings fit like a glove.
- Withdrawals Stopped: This is the big one. As Technical Tushar points out, “Treasure NFT has stated that withdrawals must now be done through TreasureFun,” but many users are reporting they can’t get their money out.
- Pay to Withdraw: Aizaz Engineer highlights that TreasureFun is asking users to deposit more money (a minimum of $50!) or refer new members just to attempt a withdrawal. This is a HUGE red flag.
- New Name, Same Scam: They’ve rebranded to TreasureFun, but as Adnan Abbas Official notes, “The new website is similar to the old one.” It’s the same wolf in slightly different clothing.
- Token Troubles: Junnu Ki TECH points out that the platform’s tokens aren’t listed on any major exchanges, making them difficult to trade or verify.
- App is Obsolete: Technical Tushar also mentions that the original Treasure NFT app is no longer functional and that all processes have been moved to TreasureFun.
So, are you still hopeful?
If yes, then I must say “you are a fool”.
People are crying on this and reporting to law enforcement agencies.
But nobody is receiving any fruitful response.
Look, I’m not saying TreasureNFT/TreasureFun is definitely a scam.
Actually, I am as all the signs are there.
It’s like seeing a cat, hearing a meow, and finding a hairball and you don’t need to see the cat to know it’s a cat.
And right now, we’re finding a whole lot of hairballs.
My advice?
Get out. If you have money in this, try to withdraw it immediately.
Don’t throw good money after bad.
Don’t deposit any more funds. And report this to the authorities.
Stay safe, Pakistan.
And remember, if it sounds too good to be true, it probably is.
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