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BTCC / BTCC Square / Global Cryptocurrency /
SEC Nigeria Issues Warning Against Unregulated Punisher Coin ($PUN) Investment

SEC Nigeria Issues Warning Against Unregulated Punisher Coin ($PUN) Investment

Author:
Global Cryptocurrency
Published:
2025-06-09 06:57:01
10
1

The Securities and Exchange Commission (SEC) of Nigeria has flagged Punisher Coin ($PUN) as an unregistered cryptocurrency with Ponzi-like characteristics. The regulatory body emphasized that the coin's presale lacks approval and warned investors against misleading promotions, including a Daily Trust E-Paper article endorsing the asset.

Punisher Coin exhibits classic meme coin traits—no intrinsic value, technical foundation, or clear utility. Its valuation hinges on social media hype, making it vulnerable to pump-and-dump schemes. The SEC cautions that such assets often leave retail investors bearing losses after orchestrated price collapses.

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