$SOL Treasure NFT Shuts Down Amid Fraud Allegations—Launches ‘NFT Gold’ Amid Heavy Scrutiny
Treasure NFT, a platform boasting AI-driven NFT trading and high-yield returns, has announced its abrupt closure within 120 hours, citing an inability to meet user commitments. The move follows growing fraud accusations, with experts likening its model to a Ponzi scheme.
Why Investigators Raised Red Flags:
Unrealistic Profits: Promised daily returns of 4.3% to 6.8% (around 30% monthly), which analysts called financially unsustainable.
Pyramid Scheme Concerns: Revenue seemed to rely more on user recruitment than actual NFT trading.
Shady Background: Registered in Tempe, Arizona, but linked to a Russian music academy. Executives’ profiles also appeared suspicious.
Despite the scandal, Treasure NFT has unveiled a successor—NFT Gold—promising more transparency and user benefits. However, given its checkered past, skepticism runs high.
Bigger Warning for NFT Investors
This case echoes a similar €1.5M ($1.66M) NFT fraud
in France, where investors were tricked into believing they were funding an animated film. The growing number of scams in the digital asset space highlights the urgent need for due diligence.
As NFT Gold gears up for launch, experts urge caution—is it a fresh start or just déjà vu?
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