Nomy Finance excels at devising cunning schemes to defraud crypto investors. The $Nomy token represents their latest, most inventive tactic to steal hard-earned funds from unsuspecting victims.
The first red flag is that Nomy Finance is a rebrand of Cryptonomy, a platform widely exposed as a scam and Ponzi scheme. This makes the $Nomy’s legitimacy immediately questionable. If you don’t know about Cryptonomy’s dubious history, check Trustpilot reviews, warnings from the Washington State Department of Financial Institutions, Australian and UK government sites, DL News, and posts on X. So this token likely serves as a vehicle for a pump-and-dump scheme.
Aside from that, there are many other red flags. On their website, Nomy is selling the tokens for 6 cents per coin with an outrageous claim it will 5x after listing. Experienced traders know such claims are the hallmark of scams, designed to create FOMO for unexperienced investors. While the $Nomy website claims it is an “asset-based token” with a “burn-to-scarcity model, ” there is no audited or transparent data that shows this would result in a “5x on launch.”
Moreover, $Nomy is unlisted on centralized exchanges, drastically limiting its liquidity. This leaves its value speculative and entirely at the mercy of the criminals running Nomy Finance. This type of setup is typical of scams designed to trap investor funds. While Nomy claimed several weeks ago that there are ’10 exchange listings incoming,’ there have been no announcements from a single exchange. It’s just another ruse!
Worst of all, interest on clients’ staked cryptocurrencies is paid exclusively in the $Nomy token. This means investors are accumulating rewards in a token that can’t be easily traded or converted into a usable asset, rendering their earnings effectively worthless. Even if the token were to gain traction, Nomy Finance is sure to prevent withdrawals from their platform or rug the coin, leaving both investors and people who stake crypto with nothing.