Treasure NFT SCAM ! Why Treasurenft Platform is a Get Rich Quick Ponzi Scheme and Scam

Summary

The 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

00:00

🤔 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.

05:02

⚠️ 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.

10:04

🕵️ 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.

15:05

💣 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.

Keywords

💡NFT (Non-Fungible Token)

NFTs or Non-Fungible Tokens are unique digital assets that are not interchangeable or divisible. They represent ownership of digital items like artwork, collectibles, or in-game assets. The video discusses the Treasure NFT platform, which claims to facilitate trading and buying/selling of NFTs. Examples from the script include 'Treasure NFT claims to do the NFT kind of trading buying and selling of the non-fible tokens' and 'if Treasure NFT claims that it is a platform that can do the buying and the selling of the NFTs'.

💡Scam

A scam refers to a fraudulent or deceptive scheme designed to obtain money or other valuables through false promises or misrepresentations. The video expresses skepticism towards Treasure NFT and suggests it might be a scam. This is evident from statements like 'I really think in my opinion treasure nft is a total scam, like it's a very very big total scam' and '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'.

💡Trading Platform

A trading platform is a digital marketplace or exchange that facilitates buying, selling, and trading of assets or financial instruments. Treasure NFT claims to be a trading platform specifically for NFTs, where users can buy and sell non-fungible tokens. The script mentions this concept when it says 'Treasure NFT claims to be buying and selling nfts, that's a non-fungible tokens which is a digital asset' and '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'.

💡Automated System

An automated system refers to a computer program or algorithm that performs tasks or processes without human intervention. Treasure NFT claims to use 'a special computer-based trading system that automatically sets prices and maintains a steady flow of buying and selling.' The script questions this claim, stating '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.'

💡Multi-Level Marketing (MLM)

Multi-Level Marketing is a marketing strategy in which participants are compensated not only for their own sales but also for the sales made by the people they recruit into the program. The video suggests that Treasure NFT's referral program and emphasis on recruiting new members might be indicative of an MLM scheme. The script states, '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.'

💡Marketplace

A marketplace is a platform or website that facilitates the buying and selling of products or services between multiple parties. The video compares Treasure NFT to authentic NFT marketplaces like CoinGecko, where users can browse and trade verified NFT projects. The script states, '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.'

💡Transparency

Transparency refers to the quality of being open, honest, and accountable about one's operations, policies, and practices. The video questions the transparency of Treasure NFT, noting the lack of information about the company, its owners, and its trading processes. The script mentions, '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' and 'you don't find it anywhere at all, okay now what do I really really think I I really think in my opinion treasure nft is a total scam.'

💡Authenticity

Authenticity refers to the quality of being genuine, real, or true. The video raises concerns about the authenticity of Treasure NFT's claims and the legitimacy of the NFTs being traded on the platform. The script states, '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' and 'these are just cop and pasted photos in here these are just coped and pasted photos in here.'

💡Due Diligence

Due diligence refers to the thorough investigation and analysis of a company, product, or opportunity before making a decision or investment. The video emphasizes the importance of conducting due diligence on Treasure NFT before engaging with the platform or investing money. The script advises, '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.'

💡Red Flags

Red flags are warning signs or indicators that something may be problematic, suspicious, or potentially fraudulent. The video identifies several red flags associated with Treasure NFT, such as the lack of transparency, questionable claims, and the absence of verified information about the team or company. The script mentions various red flags, including 'it has only about 20,000 subscribers which means that that project is literally dying like it's a dead project already' and 'apart from it being mentioned on this given blog, here let's look at Bob Steven and Bob Steven at least he 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.'

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