The crypto universe is still drawing innovation but, regrettably, also bringing in scammers that prey on investors’ trust. Fibonacci, also known as Fibonacci Network, is a questionable project that has come under the scanner. Fibonachis had a veneer of legitimacy constructed on a well-crafted roadmap, airdrops, and staking. Fibonachis is passed off as a genuine blockchain project. However, on closer examination, there are red flags galore that indicate a possible scam.
Website: Fibonachis.com
Website Availability: Yes
Headquarters Country: Level 20 Stratford Cross, London E20 1HZ, United Kingdom
Blacklisted by: Financial Conduct Authority(United Kingdom)
Domain Age:
Name-FIBONACHIS.COM
Registry Domain ID-2933559619_DOMAIN_COM-VRSN
Registered On-2024-11-12T09:24:26Z
Expires On-2026-11-12T09:24:26Z
Updated On-2024-11-14T09:18:58Z
Anonymous Ownership and Hosting Red Flags
One of the first concerns with Fibonachis is its lack of transparency. The website’s WHOIS information is masked, which means the owner is actively hiding their identity. While privacy is not inherently suspicious, when paired with other red flags, it becomes problematic.
Further, the hosting company associated with Fibonachis has a bad reputation, often implicated in scamming and fraudulent websites. Moreover, the registrar of the website has a significant share of reported spam and scam domains, further compromising its credibility.
Website Activity and Roadmap Inconsistencies
Legitimate crypto projects periodically update their communities via social media and development milestones. With Fibonachis, however, the last Twitter update was November 2023 and nothing has been communicated since. This is especially concerning in light of the fact that their roadmap had assured regular project development and communication.
Worse is the total inactivity on roadmap deliverables. Billed features, KYC integration, and platform improvements have not seen the light of day. This deafening silence, coupled with the absence of accountability, portends that the team might have left the project once they had access to investor money.
Manipulative Withdrawal Tactics and Gas Fee Traps
Many investors have complained of being unable to withdraw mined or airdropped tokens. The exchange is using manipulative means by asking users to initially send BNB tokens (Binance Coin) as gas charges to allow for withdrawals. But upon deposit of the gas charges, users are shut down by an arbitrary KYC requirement—impossible to satisfy because there exists no functioning system.
Such a configuration is similar to the bait-and-trap mechanism that scammers oftentimes employ. The victims are enticed to invest more money with the promise of withdrawing profits, but they are subsequently stuck forever, losing their initial tokens and gas fees as well.
Lack of Regulation and Community Trust
Fibonachis is completely unregulated, which makes it all the more challenging for hurt users to lodge complaints or seek refunds legally. The lack of accountability, further supported by rampant negative social media and online opinions, disqualifies any validity of legitimacy claims. Financial products or investment services provided by a project need to be governed under minimal standards at least—Fibonachis does not meet even that.
Final Verdict: Avoid Fibonachis
The combination of anonymous ownership, failure to deliver a roadmap, gas fee trap, and complete silence from the development team are clear indicators that Fibonachis is not a genuine crypto project. Its strategies are manipulative, targeting unsuspecting users with false promises and technical hurdles aimed at extracting money.
Investors are warned in the strongest terms against using this site and are urged to report any case of fraud to local finance or cybersecurity organizations. This project should be considered a high-risk scam until additional notice.
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