Rip-off Alert: SEC cautions Nigerians against buying Punisher Coin
The Securities and Exchange Commission (SEC) has cautioned Nigerians against buying a cryptocurrency called Punisher Coin, also known by the symbol $PUN. In a statement issued Sunday in Lagos, SEC stated the presale was unauthorized and lacked regulatory approval, resembling a Ponzi scheme. The promoters of $PUN are not registered to operate in any capacity within Nigeria’s capital market. SEC clarified that Punisher Coin and its promoters are neither registered nor authorized to promote, launch, trade, or solicit investment from the Nigerian public. Preliminary investigations show Punisher Coin is a ‘meme coin’ – a type of digital asset often lacking tangible utility or a supporting project. Further findings confirm $PUN is indeed a meme coin, typically without real-world value, purpose, or technical foundation backing its existence. The public is therefore strongly cautioned against participating in the presale of Punisher Coin, as any investment is entirely at one’s own risk. The Commission urges investors to verify the legitimacy of any digital asset, its promoters, and platforms before committing funds. Verification can be done through SEC’s official website: home.sec.gov.ng.
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