Scam

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:

projectfeenix

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.

projectfeenix

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.

projectfeenix

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. 

projectfeenix

The Team Behind ProjectFeenix: 

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!

4 Total Score
A Scam

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.

2.8Expert Score
Trust
2.5
Experience
3
Service
3
Ethics
2.5
5.1User's score
Trust
4.2
Experience
5.5
Service
5.2
Ethics
5.5
PROS
  • None
CONS
  • Shady background
  • Vague promises
  • Unethical marketing tactics
Add your review  |  Read reviews and comments
10 Comments
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  1. 0.5
    Trust
    10
    Experience
    10
    Service
    10
    Ethics
    10

    This is nothing but an outdated coin. The devs are too slow. They should have launched this in 2020 or something. Now, it’s too late and the market has changed. People are no longer falling for this load of BS.

    - CONS: scam lacks a proper vision Cocky dev team
    Helpful(0) Unhelpful(0)You have already voted this
  2. 4.25
    Trust
    50
    Experience
    100
    Service
    90
    Ethics
    100

    I am on their telegram. They sure do respond and there are regular videochats and updates about the progress made.

    Come, join the telegram group if xou have any doubt.

    Some reviews are paid, some are not. It is the same with every token! Paying for the work of an influencer is wrong? You expect people to work for free?

    Oh, lastly …show a whitepaper with details and solid proofs lol. It’s not a filing document for NY stock exchange, it’s just a prospectus to share the vision of the DEVs.

    + PROS: DEVs are approachable and open in communication. Regular progress updates. Strong core holders. Strong potential to grow.
    Helpful(1) Unhelpful(1)You have already voted this
    • Reply
      Someon who knows 2
      April 22, 2022 at 4:30 pm

      “Someone who knows” please help me understand one thing. Isn’t this company asking people to invest in their enterprise just like they do on the NY stock exchange? Why is it wrong then to ask them for a more detailed explanation of how they expect to deliver the returns they promise?

      Also, there is nothing wrong with paying affiliates to promote a product but when you don’t disclose this fact things become sketchy. They know what they did was wrong yet they never bothered to disclose that Crypto Queen is a paid affiliate.

      None of it is alright. It’s called “false advertising” and yes, it is extremely wrong. So, please don’t justify an unethical marketing tactic.

      • Crypto Queen literally says the video is a paid promotion in the ones that are. Whoever denied that? YouTubers don’t work for free. You know that though, liar.

        Keep ’em coming, and the screenshots of your threats of slander along with this little fiasco will find their way into the public arena. And I’m not talking about a bullshit article in a Karen website like this one.

  3. 0.5
    Trust
    10
    Experience
    10
    Service
    10
    Ethics
    10

    What a sad new scam. These guys really think that they can get away with scamming other cryptocurrency enthusiasts by paying shills. It’s hilarious and pathetic at the same time.

    This is what happens kids when you spend too much time sitting in your momma’s basement reading magazines you shouldn’t have. You don’t make something worthwhile of yourself and think up of ways you can prey on the gullible and the innocent.

    - CONS: A scam
    Helpful(2) Unhelpful(2)You have already voted this
  4. 5
    Trust
    100
    Experience
    100
    Service
    100
    Ethics
    100

    oh, elliot from klee. what a sad, sad man you are. you told everyone in the project feenix telegram you’d do your best to “fud” the project as much as possible and here you are writing ridiculous articles with zero actual research. great job cherry picking a comment or two and presenting them as if they were the general consensus on the project. perhaps you should spend more time focusing on making your own token successful and less energy on holding grudges against projects that didn’t know who you were until a few days ago when you came storming thru the telegram.

    Helpful(3) Unhelpful(2)You have already voted this
  5. Dear Anonymous Author,

    Have you reached out to the team to ask them the “hard hitting” questions that were missed? There’s no mention of it in the article. Seems to me you have come up with an opinion after doing maybe half the research. Or you in fact do have a personal issue with the team and that’s why this was written. I cannot trust the things written here because you have not put in the effort to gather all the necessary information. Do better next time.

    • Wow, you really tried your best huh. You claim that whoever wrote this article didn’t do proper research but when I google ProjectFeenix, you don’t see anything more than this. That’s the whole point of this article. Why isn’t there any data available on the background of “the team behind ProjectFeenix”. And what makes you think they will respond?

      • This is just downright false. Anyone can google and see the results are extensive and detailed. Yet you insist on lying. If any of your arguments held any water, you wouldn’t have had to write this bullshit review anonymously, and then also comment under different names to make it seem like you have friends. Get a life.

        • Wow, you are such a low life, commenting on this page trying to save face after being exposed. Maybe get a life of your own.

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