Project Feenix – New Crypto Scam of 2022
ProjectFeenix is a new crypto firm which promises the world to its clients. However, most of the evidence suggests that it’s another re-packaged crypto scam aimed at taking advantage of unsuspecting consumers.
They claim their core values include “Transparency” & “Open Communication”. The dev team also claims that they are ready take responsibility for their actions, whatever they may be.
However, as we will soon find out, it’ll be rather difficult to hold them accountable if they run away with your money and pull the rug.
I personally have nothing against the team behind ProjectFeenix, however, there have been some nefarious activities going on and they shall be available for the public to see. All the sources used in this report are public and anyone can look them up to verify these details.
With all this out of the way, let’s move on with the ProjectFeenix review.
WhitePaper Analysis: Is Project Feenix Even Worth It?
Their white paper is full of fluff content.
It is essentially a 10-page document that keeps beating around the bush and doesn’t actually go into detail about the project. The white paper barely explains the idea behind the project, let alone explain its workings.
ProjectFeenix has named its holders “FEENS”, however, like fake gurus do, the devs don’t want to explicitly admit they want your money, so they define a “FEEN” as:
Calling your holders/investors “nerd” is not a road I would take if I was in their place to be honest.
They claim they want to “redefine the way crypto does business in the digital world”. This statement itself makes no real sense, as by definition crypto exists exclusively in the digital world, and also there is no explanation of how ProjectFeenix will “redefine” such a well-oiled machine.
They also claim that Project Feenix will be essentially a hub of everything related to gaming and crypto. This reminds me of another similar scam (Earth2.io) which has become notorious among journalists for being a dangerous scam.
There is no elaboration on the longevity and plans for the project. And when it comes to finances, they’ve only provided their fee transparency chart, which seems like it was made by the developer’s daughter.
They also mention the road map which is way too optimistic and quite honestly delusional. Even though their goals seem ambitious at first, they are honestly quite vague. And to make matters worse, they have provided NO plan to back up their lofty targets.
They have created this roadmap to lure people into investing in ProjectFeenix. However, with no solid plan visible, it seems nearly impossible to achieve such ambitious goals.
The Team Behind ProjectFeenix:
The lead developer Fredrick Rengensjo’s Twitter profile was made in June 2021, he has no online presence which traces back to before the project launch. In other words, he can disappear from the internet at any time without facing any consequences for his actions. So much for being a “doxxed team”.
Actually none of the team members have any significant online presence or profiles which you can look into. So if they ever decide to pull the rug and disappear, they can do so in an instant. What’s worse is that the investors wouldn’t be able to do anything about it.
I’m not implying that they may scam their holders, however, it won’t be too difficult for them to get away with it. Remember, there are no authorities regulating ProjectFeenix, so it’ll be difficult to get your money back even through a lawsuit.
With no proper plan and a shady background, the people running ProjectFeenix have nothing going for them. How will they lure people into buying their coins? By using paid affiliates.
Their disclosed paid affiliate is a Youtube channel called ‘My Crypto Journey’. The channel has roughly 16k subscribers. There’s nothing wrong with having a public affiliate.
What’s wrong is how they are using “undisclosed paid affiliates”:
Undisclosed Paid Affiliates of ProjectFeenix
Below is a screenshot taken from a Twitter thread made by Tammy Sypniewski where she was promoting ProjectFeenix. She recently did an AMA with the lead developer of the project, and she was called out for being a paid shill by many of her viewers.
As you can see, people are calling her out for being a paid affiliate of this crypto scam. People noticed that she wasn’t asking any difficult questions and everything seemed script.
Tammy failed to perform a proper analysis of the token. The AMA was biased and was meant to put ProjectFeenix in a positive light.
Keep in mind that the developers of this project have no online presence neither do they have shown a solid roadmap for their token. All they claim to offer is the same generic bunch of promises we see in crypto scams.
In the comment section of the whole AMA, someone asked Tammy whether she had received payment do this AMA . She denied the allegation. However, she wasn’t able to answer why the whole hour-long AMA was full of biased questions and why it didn’t include any revealing and difficult questions.
As you can see, many people have questioned the intents of Tammy and whether she was paid by ProjectFeenix or not.
If a firm has to rely on such unethical marketing tactics, you can guess how reliable they truly are.
Project Feenix Review Conclusion 2022:
Project Feenix is a shady crypto scam. It’s obvious that the people behind this project created it only to take advantage of the growing hype around the token market. People are getting interested in buying new tokens and the developers of ProjectFeenix want to take advantage of this fact.
The developer’s team lacks credibility and the token’s roadmap is full of ambiguous claims. Moreover, they are resorting to unethical marketing tactics to gain the attention of investors.
Certainly, it’s not a project you should invest in. Avoid!
ProjectFeenix aka Project Feenix is a scam. The team behind the project has barely any online presence. Their developer’s accounts were created only when they launched the product. Also, the product promises the world to its investors without showing how it would achieve the same. It would be best to avoid this crypto scam.
- Shady background
- Vague promises
- Unethical marketing tactics