Treasure NFT SCAM ! Why Treasurenft Platform is a Get Rich Quick Ponzi Scheme and Scam
Summary
TLDRThe video script provides an in-depth review of the Treasure NFT platform, a service claiming to facilitate the buying and selling of non-fungible tokens (NFTs) through an automated system. Despite being operational for about a year with a modest following, doubts are raised about its credibility and legitimacy. The script highlights several red flags, including the lack of transparency in ownership, questionable claims of automated profit generation, and suspicious marketing tactics. Comparing it with established NFT platforms and noting the absence of critical website elements such as terms of service, the script ultimately deems Treasure NFT a potential scam and advises caution.
Takeaways
- 🚫 The speaker believes TreasureNFT is a total scam and not a legitimate platform for investing in NFTs.
- 🕵️ The site lacks essential information like terms of service, privacy policy, and contact details, raising transparency concerns.
- ⚠️ Claims of an 'automated system' that sets NFT prices and guarantees steady profits are deemed unrealistic and misleading.
- 🌐 The site's poorly developed nature, with non-functional links and copied images, raises doubts about its authenticity.
- 🙍 The supposed executive team members' online presence and credentials appear dubious or fabricated.
- 💰 The platform's business model, offering high daily rewards and bonuses for referrals, resembles a multi-level marketing scheme.
- 🔍 Attempts to verify the platform's legitimacy through third-party sources yielded limited or questionable information.
- 🏦 The platform's registration details are private, obscuring the identities of its owners or operators.
- 📉 The low subscriber count on the platform's Telegram channel despite being active for a year suggests a lack of genuine user interest.
- 💸 The speaker strongly advises withdrawing any invested funds from TreasureNFT due to the overwhelming evidence of it being a scam.
Q & A
What is Treasure NFT and what does it claim to offer?
-Treasure NFT claims to be a platform that facilitates buying, selling, and trading of non-fungible tokens (NFTs). It claims to have a unique automated system that sets prices and maintains a steady flow of buying and selling NFTs.
Why does the author question the legitimacy of Treasure NFT?
-The author raises several concerns about Treasure NFT, including the lack of transparency, missing legal documents, questionable claims about their automated pricing system, and the use of modified or fake NFT images from other projects.
What issues does the author find with Treasure NFT's website?
-The author notes that Treasure NFT's website lacks essential information like terms of service, community guidelines, and privacy policies. Additionally, some links and functionalities on the website are non-functional or broken.
How does the author evaluate Treasure NFT's claims about its automated trading system?
-The author questions the legitimacy of Treasure NFT's claims about having an automated system that can set prices and maintain a steady flow of buying and selling. The author argues that in a real NFT marketplace, prices are driven by supply and demand, not artificially set.
What concerns does the author raise about Treasure NFT's alleged team members?
-The author finds it difficult to verify the identities and credentials of the alleged team members, such as the CEO and CTO. Their online presence and information seem questionable or non-existent, raising doubts about their authenticity.
How does the author assess Treasure NFT's registration and ownership information?
-The author notes that Treasure NFT's registration is done privately, without any identifiable company name or owner information. This lack of transparency raises concerns about the legitimacy of the platform and who is operating it.
What is the author's overall conclusion about Treasure NFT?
-The author concludes that Treasure NFT is likely a total scam based on the various red flags and inconsistencies found, including the poorly developed website, lack of transparency, questionable claims, and lack of verifiable information about the team and ownership.
What advice does the author give to potential users or investors of Treasure NFT?
-The author advises potential users or investors to withdraw their money from Treasure NFT, as it appears to be an illegitimate platform and not a viable option for investing in NFTs.
How does the author compare Treasure NFT to other legitimate NFT platforms and marketplaces?
-The author contrasts Treasure NFT with legitimate NFT platforms and marketplaces like CoinGecko, which provide transparent information about NFT projects, pricing, and trading volumes. Legitimate platforms also have proper legal documentation and clear ownership structures.
What are some of the specific red flags or concerning aspects of Treasure NFT mentioned by the author?
-Some of the specific red flags or concerning aspects mentioned by the author include the use of modified or fake NFT images, the lack of legal documentation, non-functional website features, questionable team member information, private registration without identifiable ownership details, and unrealistic claims about automated trading and high returns.
Outlines
🤔 A Skeptical Look at Treasure NFT Platform
The paragraph introduces the Treasure NFT platform, which claims to facilitate buying and selling of non-fungible tokens (NFTs). It raises concerns about the platform's trustworthiness and legitimacy, despite being operational for about a year. The author compares Treasure NFT to established NFT marketplaces like CoinGecko, highlighting the lack of transparency and credible information on Treasure NFT's website. The paragraph also questions the platform's claim of having an automated system for setting prices and maintaining a steady flow of NFT trading.
⚠️ Red Flags and Questionable Practices
This paragraph delves deeper into the questionable practices of Treasure NFT. The author highlights the platform's claim of offering a daily reward of 1.8%, which is deemed unrealistic in the NFT world. The referral program and bonuses are likened to a multi-level marketing scheme, aiming to attract more users before potentially closing down. The paragraph also discusses the platform's use of modified NFT images, potentially infringing on intellectual property rights, further casting doubt on its legitimacy.
🕵️ Investigating the Founders and Executives
The paragraph focuses on investigating the founders and executives listed on the Treasure NFT website. The author expresses skepticism about the credibility of individuals like Steven Rosanov and Bob Steven, citing difficulties in verifying their identities and connections to the platform. The paragraph highlights inconsistencies and a lack of publicly available information about these individuals, suggesting they may be fictitious personas created to lend an air of legitimacy to the platform.
💣 Concluding Treasure NFT as a Potential Scam
In the final paragraph, the author concludes that Treasure NFT is likely a scam based on the accumulated evidence and observations. The business principles are deemed nonfunctional, the website is described as poorly developed and vague, and the overall platform lacks transparency and credibility. The author strongly advises against investing in Treasure NFT and recommends withdrawing any funds already invested, as the platform is deemed illegitimate for NFT trading.
Mindmap
Keywords
💡NFT (Non-Fungible Token)
💡Scam
💡Trading Platform
💡Automated System
💡Multi-Level Marketing (MLM)
💡Marketplace
💡Transparency
💡Authenticity
💡Due Diligence
💡Red Flags
Highlights
The speaker reviews Treasure NFT, a platform for trading NFTs, raising questions about its trustworthiness.
Despite being a year old, Treasure NFT's Telegram group only has 20,000 subscribers, suggesting low engagement.
Comparison with CoinGecko shows a lack of transparency and authenticity in Treasure NFT's operations.
Treasure NFT's claim of an automated system for trading NFTs is critically examined for feasibility and authenticity.
The platform's marketing strategy and user interface raise suspicions about its legitimacy.
Treasure NFT lacks essential website components like terms of service, community guidelines, and privacy policy.
The analysis suggests that Treasure NFT's sign-up process is suspiciously easy, lacking necessary security checks.
Investigation into Treasure NFT's claimed executive members reveals potential fabrications.
Treasure NFT's promotional materials and technical claims are scrutinized for validity.
The referral program of Treasure NFT resembles a multi-level marketing scheme, focusing on user recruitment.
Treasure NFT's single investor and private ownership raise further concerns about its credibility.
Analysis of associated personnel profiles suggests lack of genuine connection to the NFT industry.
Treasure NFT's claimed technical capabilities are questioned due to lack of credible proof and transparency.
Investigative efforts find no substantial evidence supporting Treasure NFT's operational claims.
Final assessment labels Treasure NFT as a likely scam, advising against investment.
Transcripts
okay it's time to talk about the
treasure nft platform now one of my
telegram subscribers requested me to
help him and review about the treasure
nft is treasure nft trusted now this
platform claims to do the
nft kind of trading buying and selling
of the non fible tokens the treasure nft
came out with this unique idea that
there a platform that can offer you this
exchange platform the buying and the
selling so you can jump into the
platform register and for you you will
be trading in there you'll be trading in
the
nfts but is is it true is that dream
really really true now let's start with
the positive as I talk right now the
treasure nft has a little bit taken
about one year which looks very less
likely to go off right it looks slightly
stable but is it something to you let
over is it something you can really
trust because it could have taken one
year because maybe it never had much
users it was taking its time to gain the
interest of many people as much as
possible because even when I checked on
each telegram group with it one year in
existence it has only about 20,000
subscribers which means that that
project is literally dying like it's a
dead project already now I decided to
make some comparison first if treasure
nft claims that it is a platform that
can do the buying and the selling of the
nfts is it
comparable I went on the coin geeko the
lot of nft projects here which are
officially officially approved but this
is authentic because I can see the list
of all sort of nfts in here and even
when I click it takes me to a given nft
Moon and to show me the prices and how
the prices have been going up or down
and whether one can invest in it or not
that is not the case with the treasure
nft in fact the treasure nft claims that
you don't have to go through that hustle
of clicking one by one and all that all
the claim is putting your money there
they have an automated system it will be
the one to move around try to look for
nfts buy them at lower price and then
sells them at a higher price and you
will receive the reward now I don't know
whether that is true because we consider
from the real Marketplace for the
nfts it has been in raids like most of
them have been in raid in fact a number
of nft projects have have closed a
number of them have really really closed
the one ones which are really existing
in there which may be making some money
are either the ones that have been um
hyped up by celebrities or backed up by
some other social media presence in some
way most of the money is made within a
few month and then later people just
lose interest in a project and people
move on with life so for Treasure nft to
come out and claim that you will be
making profits every day every time
throughout for the the rest of your life
with the
nfts that is not totally true it is a
total lie but besides that let's look at
the nft projects if I take an example of
the cool app now this name is stolen or
modified from the board app Club I told
you if if you go on Google and then you
you search for the board apps you can
clearly see that the nft projects were
Top Notch like top top quality very
clear pics clear drawing unique unique
kind of uh drawing and and and this was
a very very unique project that was
really working but to avoid some sort of
maybe copyright infringement what the
treasure nft did is to change the name
to be cool app instead of Bard app and
if you look at the photos they use for
the board app it is sort of a cartoon
version for what would have been the
real board AP club which means that the
treasure nft is not real in any way none
of the nfts they're trying to sell you
is real in any way they are just the own
modified version of the real authentic
um nfts out there besides that if I
click on any of these they claim that
for example the cool app has like 3,000
items but if I click on it I don't go
anywhere but I showed you that under the
coin Geo if you click on any nft project
it will take you to the landing page and
you can see whether that project has
been going up or it has been going down
it will also show you the cryptocurrency
it is trading the one that you can use
for buying and the one that you can use
for selling but you don't find that in
the Treasure
nft but besides that I tried to look at
okay maybe something is good with them
let me check out how the sign up page
looks like what the site looks fairly
developed
but a lot of things were missing like I
do not see terms of service I I do not
see Community guidelines I do not see
privacy policy in here because if you're
trading platform you would want to
verify every user you'd want to make
sure
that you sure that the people dealing in
the platform the real human beings what
happens if then the government comes
through and says so and so was trading
on your platform committed a crime we
want you to give us details about them
and so you as a company doesn't have any
information what then happens or in case
they hack the system and then you want
to identify the owners of those original
Money how will identify them so this
site at all didn't have any of those
terms of service the main intention in
here is to make sign up very easy for
you do not know whether you're
committing a crime or not now they also
placing a lot of I hear documents
showing how they do that kind of service
and they place a lot of technical words
in here that a Layman will not bother to
go through to try to understand but okay
our AI helped us here what did sh GPT
interpret they claimed that the treasure
nft claims to be buying and selling nfts
that's a non-fungible tokens which is a
digital asset
now unlike the traditional nft platforms
treasure nft use a special computer
based trading system that automatically
sets prices and maintains a steady flow
of buying and selling now I want you to
pay attention
here A system that automatically sets
prices now if if if you are a platform
which has a collection of nfts and you
want to Aid in Easy B buying and selling
of the
nfts then you cannot really set prices
on your own because those nfts are not
yours you you cannot you cannot set
prices of the nfts on your on your
platform because the owners of those
individual nfts they have a set price
and besides that prices are driven by
supply and
demand so if you come up and say for you
have the ability to just automatically
set up up a given price that you wish
and then maintain it at that steady Pace
then that means that you're doing Shady
business number one it means that you
are not really having nfts as per se
rather you're having some algorithm and
you Bas you have put some few pcks in
there and you're just manipulating
figures or numbers there's really no
official transaction behind the scene so
this claim then made me conclude that
treasure nft doesn't have any any
official nft in any way there's nowhere
within the site that shows us concept of
the work how the automated system was
developed is there any proof of work how
does it exactly do the trading in real
life now there are some other things
which are nonfunctional within a
treasure nft like uh if you try to to
sign up for for that email uh email list
it's it's it's nothing like this site
doesn't even allow you to sign up for
any email list it doesn't work it
doesn't function not there some of these
links for social media others are there
others are really nonfunctional I
decided to look at okay how does the
trading work so here they tells you that
if you put in your money when you just
registered they give you some 200 usdt
free of charge and so you'll be having a
reward of
1.8% daily in case you do that trading
uh no if you have
1.8%
how much percentage would that be that's
a lot of return which is which is not
applicable in the nft world because with
this price fluctuations happening with
the it's it's not really really true so
these are just some few numbers
automated system place in here these
guys have referral programs and what
makes it a multi level marketing scheme
in in in most cases the major aim is
please refer people we shall give you
more and more bonuses because they want
as many people as possible to join the
platform so that when they close they
have enough enough money in their pocket
in there
now I looked at some profile in fact
there was this blog this site called
pitchbook.com and they posted about the
treasure nft they claim that it was
founded in 2021 it is private it is at
early stage VC and it has one investor
one investor a whole company claiming to
be a trading platform for nfts has won a
single investor and it is private owned
it means that there is one person that
has 100% rights over the whole company
he can just wake up tomorrow and close
everything and you will have no reason
you have have no way to begin making a
claim not there at all so you who is
putting money there they claiming invest
invest it means you're not even an
investor you I don't know what you are
you just helping to find this comma here
just just fing him and so he's giving
you back some of your money as sort of a
bonus or but there's really nothing in
here they decided to put um some people
claiming that these are these are okay
they executive members Steven and then
this Bob now I tried looking looking for
for these names it's hard for me to call
the names Steven what rosanov and Bob
Steven I try looking are these people
really associated with the treasure nft
when I Tred to look at Steven
renov apart from his name appearing in
that site for the pit book which has
chief officer at Treasure
nft it was really hard to find because
the official LinkedIn page doesn't have
anything close to nft at all Steven
roseno it doesn't have any communication
related to treasure nft leave nft of
course he's an expert in marketing but
it doesn't mention anything related to
nft cryptocurrency
whatsoever it's it's not any at
all so if he's really the CEO of the
treasure
nft why why can't we find it anywhere
apart from it being mentioned on this
given blog
here let's look at Bob Steven that is a
chief technology officer I looking at
Bob Steven and Bob Steven at least
appeared Bob Steven and if at least he
appeared and it mentions he the chief
technology officer treasure nft and the
latting Prof file is a cartoon and
behind the banner you can see is some
cartoon version of the nft which is
similar to the one at the treasure
nft okay so Bob could be somebody behind
but this is what became interesting if
Bob is a whole whole technical
Chief advisor in Treasure nft and his
profile is Chief technology officer
since
2021 software engineer in in Oracle
since August 2020 but Bob Steven has
only and only seven
connections seven
connections how how true is
that so I think this profile was just
made to when when the treasure nft began
just and then this blog was posted so
that in case you begin looking for Bob
Steven you find some LinkedIn profile
but I don't agree that if you have all
these experience you would only have
seven connection that's not true that's
not true it mean that this is not a real
person this is not a real known name for
somebody under the treasure nft it's
just a f fake name with nothing attached
behind well there was a link to
something like a personal website for
Bob stev I okay I was like okay let me
look at the P website and the website
was not there okay the website was not
there but the website was some was from
some company which is a little bit
related
to it is hard for me to call Chang group
now when I searching Chun group it is a
China based company but again they does
Electrical Services they don't do
anything like crypto they do don't do
anything like um nfts they they have no
connection to the name
nft which brings me back to that this
name Bob Steven who is being paraded
around to be the chief technical officer
all these are fake people in the
Treasure nft these are not true these
are not true in any way okay these are
not true in any way so I do not really
trust there of course the trust score is
fair fair 62 out of 100 and with the
reason being that well the S is slightly
has taken a bit of uh some
time and and we can see that it has
taken about 1 year from
now
but if you look at other registration
things like organization domains by
proxy this not an organiz i I expect
like a company name or something this is
registration
private like there's no another
information that can identify the owner
or the people behind this it's not there
it's not there at all that means that
you have no idea whom you're dealing
with even when you go back on the
treasure nft site itself there is no
contact the the there is no official
sort of email or whatsoever there is
just a a link to a telegram group and
some few social media account there's no
known face that comes out and say it's
me I am here if you if you want anything
to do with the treasure nft come to me
you don't find it
here down here we expect to see company
profile somewhere here with all details
all details the address the email the
telephone number
support service all sort of things we
expect them here but you don't find it
anywhere you don't find it anywhere at
all
okay now what do I really really think I
I I really think in my
opinion treasure nft is a total scam
like it's a very very big total scam the
business principle is
nonfunctional even on the side these are
just cop and pasted photos in
here these are just coped and pasted
photos in here this site is very vague
poorly developed poorly developed it
doesn't make sense it doesn't add up and
I suggest you should just withdraw your
money initiate withdraw withdraw your
money this is not a legit platform for
you to invest in
nfts let me know what you think in the
comment section
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