What Is TreasureNFT?
Launched in 2024, TreasureNFT claimed to offer monthly returns of 30% through artificial intelligence-driven NFT trading. It targeted new investors with offers like:
- 4.3% to 6.8% return per $100 invested
- Additional rewards for referring new users
- Fast withdrawals within 3 days (initially)
But now, the story has changed. The platform has frozen most user withdrawals. Hundreds of users say they are unable to get their money out.
Early Red Flags
Several warning signs were already there. Critics pointed out the platform looked more like a Ponzi scheme than a real investment service. Here’s a breakdown of what raised suspicions:
|
Red Flag |
Description |
|
Unrealistic returns |
Promised up to 30% monthly, which is very uncommon in real trading |
|
MLM structure |
Encouraged users to bring in others for bonus payouts |
|
Delays in withdrawals |
Payouts moved from 3 days to over a week, then stopped completely |
|
Manual withdrawal system |
Required forms, fees, and technical steps that rarely led to success |
|
Fake team profiles |
Analysts found LinkedIn pages with no real connections or history |
Users Share Their Struggles
Many users are now speaking out. Some were early investors who did receive returns. They now believe those payouts were made only to attract more people. As more investors joined, the platform seemed to slow down and eventually stopped processing withdrawals.
One user, Maninder Dhiman, said he couldn’t even log into his account anymore. Error messages kept appearing every time he tried to access his funds.
TreasureNFT Responds
In response to the backlash, TreasureNFT posted updates on X. They claimed the manual withdrawal process was introduced for “platform sustainability and security.”
They shared some data to explain the delays:
- Total withdrawal forms submitted: 1,887
- Successful withdrawals: 121
- Success rate: Only 6.4%
The rest were either rejected due to “errors” or are still pending. Many users say the process is too complicated and feels like an excuse to block payouts.
TreasureNFT’s story is not unique. Crypto scams have been on the rise. A report by blockchain security firm Cyvers found that over $5.5 billion was lost to scam projects last year. Many of these follow a similar pattern:
- Promise high returns
- Use complex tech jargon (like AI, blockchain, NFTs)
- Push referral-based growth
- Delay or block withdrawals after enough money is collected
As of now, the TreasureNFT website is still online, but browsers warn users it’s unsafe. The platform’s Telegram group, once active with over 419,000 members, hasn’t posted anything since March 30. It has also been flagged as a scam by users.
If you’ve invested in TreasureNFT or any similar project, it’s crucial to stay alert. Always do deep research before putting money into platforms that promise fast and high returns.