Coinbase Users Warned: Vatican Bank Denies Involvement in ’Vatican Chamber’ Crypto Scam

The Vatican Bank has issued a public denial of any involvement with a fraudulent cryptocurrency scheme promoting 'Vatican Chamber of Trade' (VCT) tokens. Scammers created an elaborate facade, including a professional website, falsely claiming Vatican backing and partnerships with major blockchain networks. The scheme lured investors with promises of participation in the economic growth of this fictitious entity. This incident underscores the importance of due diligence in cryptocurrency investments, particularly for users of platforms like Coinbase who may encounter such offerings. As of July 2025, authorities are investigating the scam, which serves as a reminder of the crypto sector's vulnerability to sophisticated fraud despite its growth potential.

Vatican Bank Denies Ties to Fraudulent 'Vatican Chamber' Crypto Token Scheme

The Vatican Bank has distanced itself from a sophisticated cryptocurrency scam involving a fictitious 'Vatican Chamber of Trade.' Fraudsters created a professional-looking website offering a presale of VCT tokens, falsely claiming backing from the Vatican and partnerships with major blockchain networks.

The scheme promised investors participation in the economic growth of the fabricated Vatican Chamber, with tokens allegedly supported by tokenized assets and real-world projects. Each VCT token was priced at 25 euros, with a total supply of 10 million. The operation redirected potential buyers to a Coinbase wallet page through a suspicious link.

Coinbase Sues Oregon Officials Over Cryptocurrency Policy Shift

Coinbase has filed a lawsuit against Oregon state officials, including Governor Tina Kotek and Attorney General Dan Rayfield, alleging an abrupt and opaque reversal in the state's cryptocurrency policy. The legal action challenges the lack of public hearings or rulemaking processes preceding the regulatory shift.

The dispute stems from Oregon's April lawsuit accusing Coinbase of operating without proper securities registrations. Coinbase Vice President of Litigation Ryan VanGrack framed the state's actions as potentially enriching out-of-state law firms while restricting Oregon residents' access to digital asset markets. "Oregonians deserve to know why their government is keeping them in the dark," VanGrack stated, highlighting the case's unusual confinement to Oregon jurisdictions.

This legal confrontation underscores growing tensions between crypto enterprises and state regulators, with Coinbase seeking dismissal of Oregon's original complaint while demanding transparency about the policy reversal. The exchange maintains its services comply with all applicable laws despite the state's allegations.