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Sanzooz Finance (SZFT) Scam: Don’t follow media blindly, keep your money safe

Security

thecoinrise.com 24 June 2022 19:46, UTC
  
Reading time: ~3 m

Sanzooz Finance (SZFT) Scam is another major scam that has been advertised heavily in the mainstream crypto media via paid articles. Additionally, TheCoinRise has been pointing out several scams recently which follow a similar methodology. They use paid media articles to cover their tracks and in those paid media articles, they compare themselves with big names in the industry like Solana, Ethereum, and more.

Some of the most prominent scams in the crypto industry that TheCoinRise has covered include CashFi (CFI) Scam, ParodyCoin (PARO) scamGnox (GNOX) scamFirepin (FRPN) scamMushe (XMU) scamExplora Chain scam, and Securipop scam. All these scams have been following a similar marketing strategy and it seems that investors should stay aware of these projects.

Sanzooz Finance (SZFT) Scam describes itself as “a new financial platform enabling the creation of unique derivatives and exposure to real-world assets on the blockchain.” The scam describes itself as follows:

Sanzooz Finance is an Ethereum-based protocol for decentralized asset issuance. These artificial assets will be collateralized by the Sanzooz Network Token (SZFT), which, when locked in a contract, enables the creation of artificial assets. This pooled collateral model enables users to perform asset conversions directly through the smart contract, without the need for counterparts.

Sanzooz Finance (SZFT) Scam: Key points to note

There are many reasons why we avoid you to invest in the Sanzooz Finance (SZFT) Scam:

YouTubers pointing out the obvious

YouTubers like Crypto Bellwether have pointed out the obvious when it comes to these types of scams.

In the video, it was made clear that the project creators are trying to create FOMO for the token by stating that this is the next big thing. However, this is simply not true. As the YouTuber pointed out, the project has all kinds of signs pointing toward it being a scam including the absence of founders, poor transparency, and no updates on what’s going to happen in the near future.

Social media

The Telegram group seems to have 11K users but is relatively quiet for a group that big. Interestingly, a user pointed out that the same. “Is this legit. No activity in group. No price movement. Except for these flying rockets,” the user asked.

It seems that the Telegram is full of fake followers as the lack of inactivity suggests. It is therefore advised to remain cautious of the same.

Furthermore, taking into account the Twitter account, there is zero community activity on the same and it seems that investors need to be careful regarding this factor as well. There are no comments in the group as well.

Whitepaper and Roadmap

The whitepaper and roadmap promise a lot of things for investors but it seems that there are these items are for just show. There is not a single working prototype for these products and it seems that investors are just being lured in for a pump and dump show.

Conclusion

Sanzooz Finance (SZFT) Scam is a poor investment and just like all the other scams covered by TheCoinRise, investors need to look out for this one as well.


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