The TreasureNFT platform, which claims to generate income through NFT trading, has come under scrutiny after reports of user difficulties accessing funds.
Scam Allegations
TreasureNFT, a purported web3 revenue platform promising 30% monthly returns from AI-driven NFT trading, has been accused of scamming users. Many have reported issues accessing their funds.
Signs of Trouble
Since its founding in 2024, TreasureNFT attracted numerous users with promises of 4.3% to 6.8% returns on every $100 invested. Critics note that the platform relies heavily on a multi-level marketing structure, a classic sign of Ponzi schemes. According to analyst XYZ Crypto, initial investors received payouts creating an illusion of legitimacy, but withdrawal processing times grew with the platform's expansion.
TreasureNFT's Response
Following user complaints, TreasureNFT's X account stated that the manual withdrawal process was introduced to ensure "platform sustainability and security." Data shared indicated that from 1,887 withdrawal forms submitted, only 121 were successfully processed, reflecting a low success rate for requests.
The situation with TreasureNFT highlights the growing issue of fraud in the cryptocurrency space, where users lose funds to unscrupulous practices.
