Treasure NFT, an online platform offering high returns through AI-powered NFT trading, has temporarily restricted cash withdrawals for many users, raising concerns about its legitimacy.
While some users were able to withdraw funds, others reported delays, account freezes, or outright denials, fueling speculation of potential liquidity issues or that the platform was operating as a Ponzi scheme.
Investors noted that some users, especially early adopters or new referrals, were still able to withdraw their funds, while others faced technical difficulties or excuses for delays.
This selective withdrawal pattern is often associated with financial scams, where payments are processed early to build trust before withdrawals become increasingly difficult.
Company Response
In an official statement, Treasure NFT explained the delay in withdrawals, attributing it to adjustments in the financial system to comply with local regulations and ensure the safety of user funds.
The platform said that withdrawal processing time would be extended from 96 hours to 168 hours but now it is 360 hours. but assured users that all pending transactions would be processed once the audit is complete.
Despite the company’s assurances, many investors remain skeptical, fearing that the delay could be a ploy to prevent large-scale withdrawals before the platform collapses.
Treasure NFT, which guarantees daily returns of 4.3% to 6.8%, far higher than typical investment returns, also operates a multi-level referral system. Users are incentivized to bring in new investors, a model that financial experts often associate with Ponzi schemes.
Industry analysts have expressed concern that platforms that promise such high returns could struggle to keep up with payments if new investments slow down, further increasing the potential for financial instability.
About Treasure NFT-Notice on Launching SPAC Listing
This is an exciting start. The company announced the launch of Treasure NFT's US stock SPAC listing. This will be a new milestone for us: the world's first NFT enterprise stock-code: TFT. Before listing, we will do our best to cooperate with the due diligence of local and relevant financial regulatory authorities, as well as conduct high-standard financial audits by the world's four largest auditing companies, such as Deloitte and KPMG. We know that the core of listing is 100% compliance and legal operation of finance and business. In order to achieve this historic milestone, we have decided to extend the withdrawal time of the platform to within 360 hours from now on.
During this period, we are very happy to launch NFT auctions and public chains to the community simultaneously.
Investors are not getting withdrawal from 23/03/2025. So, Don't invest in this platform further.
Treasure NFT, accessible via treasurenft.xyz, has been reported as a scam by various sources. Key concerns include: treasurenft.xyz
Ponzi scheme allegations: The platform is reported to operate by promising high returns and encouraging user recruitment, which is a common feature of Ponzi schemes.
Withdrawal issues: Users have reported difficulties withdrawing funds, with some being asked to pay additional fees or taxes to access their money.
Lack of transparency: There is minimal evidence of actual NFT trading or a functioning market.
Legal investigation: Investigations have been launched by authorities, including in India, due to fraudulent activity related to the platform.
Given these warnings, it is strongly advised to avoid engaging with Treasure NFT.
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