Security

Acranup scam: Here’s all you need to know

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Acranup scam: Here’s all you need to know

Acranup.io, or just Acranup, is a scam, as found out by the team of journalists at TheCoinRise. Many have covered the scammy nature of the project, but now is the time that we warn our dedicated readers about the Acranup scam to protect them from getting affected by such a project.

Through aggressive marketing tactics, the Acranup scam tried to rob many investors of their money. Numerous articles floating around the web claim that Acranup is an up-and-coming DeFi project that will change/revolutionize the entire industry. But it is all a farce. 

Stay safe from the Acranup scam

If you head up to the Acranup.io website, it becomes pretty clear how the Acranup scam hides under the names of some of the major projects in the crypto industry like Solana, Binance, and Ethereum. However, this new project is nowhere close to these blockchain networks that have billions of users. 

On the website, the Acranup scam is described as follows: 

“ACRANUP is a public blockchain protocol deploying a suite of algorithmic decentralized stablecoins which underpin a thriving ecosystem that brings DeFi to the masses.”

Only presale link

Interestingly, the only working link on the website is the presale link (the website has been filled with the same presale link), which should be a red signal for innocent investors. It is something that many investors overlook when they first visit the website. 

Fake audit

We can easily see that the Acranup scam website confirms that the project has been audited by CertiK, one of the biggest names in the blockchain security industry. If you go to the Doc section of the website and look for the audit report, you will be redirected to the CertiK website. When our team searched for Acranup on the CertiK website, it found nothing, further confirming the scammy nature of Acranup. 

No social media presence 

The community behind any project is a major reason why any project blossoms. Acranup scam has no project whatsoever backing it. It can be confirmed by clicking on the social media links. The telegram channel is not accessible and cannot be found, while the Twitter handle of the project is as good as empty. 

There are just two tweets on the Twitter handle confirming that not a single person is interested in or backing the project, which is another red flag. 

Additionally, the Instagram of the Acranup scam is also unavailable, which adds to the fact that there is no social media presence of the scam project. 

Lack of transparency

Another critical thing to note is that the whitepaper described that “in order to keep the value of each $ACRN token stable, the Acranup treasury holds a diversified portfolio of assets (for example, Binance USD or BUSD).” However, the platform provides no dashboard to help investors analyze the fact that the treasury of the Acranup scam has any token held up in it.

Final thoughts

It is very important for the crypto investors to look out for such scammy projects in a market that on one hand is full of solid projects but on the other is suffering from serious scams and frauds.


Source: ethereum.today

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