Nomy Finance claims they offer $7 billion in insurance on custodial assets. This is yet another bold faced lie. Let’s break it down!
No Verifiable Evidence
No sources, independent reviews and, most importantly, no regulatory bodies confirm the claim of $7 billion in insurance. Plus, the absence of documentation from a reputable insurer or any mention of a custodial partner with insured assets completely undermines this claim. Legitimate platforms with insured assets typically publish detailed insurance policies, custodial agreements, or third-party audit reports, none of which are evident for Nomy Finance.
Implausible Insurance Amount
A $7 billion insurance policy is extraordinarily large, even for major regulated cryptocurrency platforms like Coinbase or Binance, which typically offer insurance in the range of $100 to $250 million for specific assets. The claim of $7 billion in insurance on custodial assets appears to be a marketing tactic to create a false sense of security, a common strategy to fleece victims of their crypto more easily.
No Address/Phone, Recent Domain Creation & Hidden WHOIS
The Nomyfi.com domain was registered on February 5, 2025, indicating a very new operation. New platforms, especially those flagged as suspicious, are unlikely to secure a $7 billion insurance policy, which requires significant financial backing and vetting by insurers. The scam platform’s WHOIS data is also hidden, and it provides minimal details about its operations, team, or financial protections. There isn’t even a phone number or address.
Nomy Finance Is A Known Scam
Nomy Finance is the same company & team as Cryptonomy, a confirmed scam. This casts further doubt on its insurance claim. Scam platforms often make exaggerated claims to lure investors, but these are just lies to get your crypto.