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Parody Coin scam: Another token that made our list


thecoinrise.com 15 June 2022 16:54, UTC
Reading time: ~3 m

It is not a hidden fact that the crypto world is full of scams and people who try to make you spend your hard earned money on get rich quick schemes only to make you regret later on for not doing enough research. However, TheCoinRise will make your life easier by giving you an insight into the Parody Coin scam, a new scam project that has spent huge money to market its potential but has very little to show for it.

Below we will discuss why the team of reporters at TheCoinRise considers Parody Coin a scam and how you can save yourselves from being a victim of the developers of this scam project.

The project describes itself as:

“Building blockchain, commerce, metaverse, and NFT products to derive new kinds of value from crypto technology and to apply it to increasingly better use. Advancing our innovations to every part of the world.”

Parody Coin scam: Key points to note

There are many articles regarding the Parody Coin scam that claim that there this is one of the best and most profitable projects that will hit the market and the presale link is also present on the website to help you buy these tokens and take a gamble at the future prices of the coin.

No founders

One thing that we see here in common with Logarithmic Finance Scam is the absence of founders and a development team. Be it any blockchain firm, services provider, or GameFi project, everything needs a development team. Parody Coin scam failed to disclose any founder or the development team members.

For any project to become a success, an experienced team is needed. As per TheCoinRise, there are zero possibilities of the Parody Coin scam becoming a success only from false advertising and without the involvement of the founders.

Audit

The Parody Coin project claims to have been audited by CertiK, a major blockchain securities firm. However, when opening the audit report, we can see that the audit is still pending with CertiK which means that the project cannot be given a green flag yet.

Social Media

The Parody Coin scam has three social media links that are provided on the website. These include Twitter, Instagram, and Telegram. These social media further add to our conclusion that Parody Coin is a scam.

Firstly, we visited Twitter which is devoid of any community involvement. There is no one excited about the drops and commenting on the project. The firm has no partnerships confirmed by any party. There are a handful of tweets that fail to produce any significance for the project.

The Instagram of the Parody Coin project leads to nowhere. If we visit Instagram, there is nothing to be shown but the only message shown is “this content isn’t available right now.” This further confirms our suspicions.

In the official Telegram group, people have complained about the lack of customer support and expressed concerns regarding the misinformation generated by the Parody Coin scam by falsifying information.

Conclusion

Parody Coin can be considered a scam based on the evidence provided above. If any person has been affected or needs to share their experience, contact TheCoinRise via any of our social media handle.


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