Treasure NFT, a platform claiming to offer AI-driven NFT trading with substantial returns, has come under scrutiny for allegedly defrauding millions in Pakistan, particularly in Khyber Pakhtunkhwa (KP) and Balochistan.
Reports indicate that the platform exhibited multiple red flags commonly associated with Ponzi schemes, raising concerns among investors and financial analysts.
The platform attracted a large number of investors by promising high and consistent profits through NFT trading and staking.
However, investigations suggest that Treasure NFT operated on a deceptive model, offering unrealistic daily growth rates between 4.3% and 6.8%, amounting to nearly 30% monthly returns—figures typically seen in fraudulent investment schemes. Experts warn that such returns are often generated by recruiting new investors rather than genuine trading activity.
Treasure NFT’s operations predominantly targeted economically disadvantaged and less-educated communities, particularly in Pakistan’s tribal areas, Balochistan, and Sindh. The platform relied heavily on a referral-based system, incentivizing users to bring in more investors—a hallmark of pyramid schemes.
Many users reported difficulties in withdrawing funds, with accounts being frozen and customer support becoming unresponsive. These issues left investors unable to access their money, leading to significant financial losses, Bol News reported.
Moreover, Treasure NFT allegedly engaged in deceptive marketing by fabricating positive reviews and testimonials to appear credible. This strategy misled investors and created a false sense of legitimacy around the platform.
As concerns mount, authorities and financial experts urge investors to exercise caution and verify the credibility of online investment platforms before committing their funds.
