Panshibi Review
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Panshibi Review: A Deceptive Platform Exposed
Cryptocurrency popularity continues to increase, with new coins surfacing rather frequently. Panshibi (SHIBI) is one such coin, a platform that surfs on the meme-coin trend to attract investors. Things aren’t as perfect as they seem, though, and under the surface, it is evident that Panshibi carries a couple of red flags typical of a scam. This Panshibi review analyzes the deceptive practices utilized by Panshibi and why investors should be vigilant.
Website-https://panshibi.com/
Key Red Flags
1. Contract Creator With a History of Scam Projects
The contract creator behind Panshibi has a history of working with several scam crypto projects. This makes us question the authenticity of the coin and its real intention.
2. Newly Registered Website
The website (panshibi.com) was registered only 41 days ago, a typical approach scam projects take to emerge, raise funds, and vanish quickly.
3. No Verifiable Team Behind the Project
Legitimate crypto projects are outlined with clear and traceable teams working behind them. Panshibi doesn’t provide any team information.
4. Unrealistic Staking Rewards
Panshibi promises a staking APY of 1,200%, which is an unrealistic figure that is typical of Ponzi schemes.
How Panshibi Traps Investors
False Charity Declarations
Panshibi has been hailed as a panda preservation support initiative but without donations and no honest association with recognized bodies, none has been demonstrated. It follows from the history of previous fraud that utilized false charity declarations in the hope of gathering some respect.
Manipulative Smart Contract Audits
The project has an audit by Coinsult, but audits are useless if the scammers continue to control investor funds. Scammers pay for audits to present the illusion of security.
The Presale Money Grab
Investors fund ETH to buy SHIBI tokens, but instead of putting the funds into a liquidity pool, the funds go to scam-controlled wallets tagged as high-risk addresses.
Lack of Transparency
Panshibi does not provide valuable information about its development team, which is a major red flag. Good projects always provide valid information about their developers.
FAQs
1. Is Panshibi a real crypto project?
No, Panshibi has some warning signs typical of crypto scams. Investors should not invest in this project.
2. Can I withdraw my funds from Panshibi?
Most users attest that they cannot withdraw their funds. Funds are transferred to scam-controlled wallets upon deposit.
3. What should I do if I have invested in Panshibi?
If you have already invested, report the fraud to the concerned authorities and avoid further contact. Watch out for recovery scams that claim to recover your lost money.
Conclusion
Panshibi is yet another cryptocurrency scam project designed to deceive investors and steal their money. Always conduct thorough research before investing in a crypto project to avoid falling victim to financial scams.
If you were defrauded by brokers like Panshibi, do not wait to reach out to the experts. For victims of crypto scams and fraud, CryptoScam provides recovery and investigations. Visit cryptoscams.com.au today to recover your lost funds.
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