Wednesday, July 23, 2025
  • About
  • Advertise
  • Careers
  • Contact
The Reflector Newspaper
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology
  • Login
No Result
View All Result
The Reflector Newspaper
Home Featured

SEC Warns Against Investing In Punisher Coin

Ifeanyi Uzoechiena by Ifeanyi Uzoechiena
June 8, 2025
in Featured, News
0
Crypto, Virtual Assets Providers To Get Licensed – SEC
0
SHARES
1
VIEWS
Share on FacebookShare on TwitterShare on LinkedInShare on WhatsAppShare on TelegramSend to Email

The Securities and Exchange Commission (SEC) has cautioned Nigerians against investing in a cryptocurrency called Punisher Coin, also known by the symbol $PUN.

In a statement issued Sunday in Lagos, SEC said the presale was unauthorized and lacked regulatory approval, resembling a Ponzi scheme.

Related posts

Senate Spokesperson Tag Natasha’s NASS Return Bid ‘Skit-Making’

Senate Spokesperson Tag Natasha’s NASS Return Bid ‘Skit-Making’

July 22, 2025
Awujale of Ijebu Land, Oba Sikiru Adetona, Joins Ancestors

Senate Pays Tribute To Late Awujale

July 22, 2025

According to the statement, the promoters of $PUN are not registered to operate in any capacity within Nigeria’s capital market.

The Commission said, “Our attention has been drawn to online promotions of an unauthorised presale for a cryptocurrency called PUNISHER COIN, also known as $PUN.

“Of particular concern is an article by Daily Trust E-Paper titled: ‘Cryptos to Buy: Why Punisher Coin Could Join Avalanche and Chainlink.’”

SEC clarified that Punisher Coin and its promoters are neither registered nor approved to promote, launch, trade, or solicit investment from the Nigerian public.

Preliminary investigations indicate Punisher Coin is a ‘meme coin’ — a type of digital asset often lacking tangible utility or a supporting project.

Further findings confirm $PUN is indeed a meme coin, typically without real-world value, purpose, or technical foundation backing its existence.

The value of such coins is usually driven by hype, social media trends, or promotional efforts by their creators and community.

This makes them vulnerable to ‘pump and dump’ schemes — fraudulent tactics used to inflate and then crash a coin’s market price.

In such schemes, promoters spread false hype, creating buying pressure, then sell off their holdings at the peak, leaving others with losses.

After the promoters sell and stop hyping, the coin’s value usually plummets, causing unsuspecting investors to lose money rapidly.

SEC noted these coins’ value is largely based on manipulation, not substance, with price swings driven by excitement and misleading claims.

The public is therefore strongly warned against participating in the presale of Punisher Coin, as any investment is entirely at one’s own risk.

The Commission urges investors to verify the legitimacy of any digital asset, its promoters, and platforms before committing funds.

Verification can be done via SEC’s official portal: https://home.sec.gov.ng/fintech-and-innovation-hub-finport/registered-fintech-operators/

 

The Punch

Tags: Punisher Coin

The Reflector Newspaper's newsletters cover a variety of topics, from daily news to lifestyle content, markets info to medical news. Subscribe to get the latest information.

Unsubscribe
Previous Post

June 12: No Igbo will join any protests – Ohanaeze Ndigbo

Next Post

Ojude Oba 2025: FG Pledges To Harness Culture For National Prosperity

Next Post
Ojude Oba 2025: FG Pledges To Harness Culture For National Prosperity

Ojude Oba 2025: FG Pledges To Harness Culture For National Prosperity

RECOMMENDED NEWS

FG Pends N150bn Loan For Manufacturers, MSMEs Till September

FG Pends N150bn Loan For Manufacturers, MSMEs Till September

11 months ago
Deputy Police Commissioner Commits Suicide In Ogbomosho

Plateau killings: Group Re-echoes Demand For State Police

2 years ago

Boko Haram Kill 15 In Cameroon

8 years ago
Ondo: Allow Public Officials Try Our Oath-Taking – Traditional Worshippers

Ondo: Allow Public Officials Try Our Oath-Taking – Traditional Worshippers

11 months ago

FOLLOW US

BROWSE BY CATEGORIES

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

BROWSE BY TOPICS

#EndBadGovernance protest 2027 Elections ADC Akpabio Alaafin Of Oyo APC Atiku Bola Tinubu Buhari CBEX Coalition Dangote Refinery Defection Economic and Financial Crimes Commission (EFCC) Economic Hardship EFCC Emergency Rule Federal Government of Nigeria Fubara Fuel Price Fuel Price Hike Gunmen INEC JAMB Natasha National Power Grid Nigerian National Petroleum Company Limited (NNPCL) Nnamdi Kanu NNPC NNPCL Olubadan PDP PDP Crisis Peter Obi Petrol Price President Ahmed Bola Tinubu Rivers Administrator Rivers Assembly Rivers Crisis Senate Tinubu UTME VeryDarkMan WAEC Wike

POPULAR NEWS

  • Congo’s President Daughter’s Bedroom Surfaces Online

    Congo’s President Daughter’s Bedroom Surfaces Online

    0 shares
    Share 0 Tweet 0
  • Economy Bleeds As Naira Hits Record Low With N72.58 Depreiciation Against Dollar

    0 shares
    Share 0 Tweet 0
  • Old Naira Notes Remain Valid – CBN

    0 shares
    Share 0 Tweet 0
  • Gospel Actress, Flora Of Abattoir Movie Series Is Dead

    0 shares
    Share 0 Tweet 0
  • JUST IN: FCT Minister Wike Leads Eid-El-Fitr Homage To President Tinubu Amid Death Rumors

    0 shares
    Share 0 Tweet 0
The Reflector Newspaper

Our mission at The Reflector Newspaper is to cultivate a dynamic digital space where truth, integrity, and diversity thrive.

Follow us on social media:

Recent News

  • Senate Spokesperson Tag Natasha’s NASS Return Bid ‘Skit-Making’
  • Senate Pays Tribute To Late Awujale
  • Renewed Hope Global Congratulates Super Falcons On Reaching WAFCON Final
  • Tinubu In Closed-Door Meeting With Three Ministers, CBN Gov, FIRS Boss

Category

  • Business
  • Crime
  • Economy
  • Education
  • Entertainment
  • Fashion & Style
  • Featured
  • Foreign News
  • Health
  • Interview
  • Love & Relationships
  • News
  • Opinions
  • Politics
  • Sport
  • Technology
  • Uncategorized

Recent News

Senate Spokesperson Tag Natasha’s NASS Return Bid ‘Skit-Making’

Senate Spokesperson Tag Natasha’s NASS Return Bid ‘Skit-Making’

July 22, 2025
Awujale of Ijebu Land, Oba Sikiru Adetona, Joins Ancestors

Senate Pays Tribute To Late Awujale

July 22, 2025
  • About
  • Advertise
  • Careers
  • Contact

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
  • Home
  • News
  • Politics
  • Featured
  • Foreign News
  • Business
  • Opinions
  • Sport
  • Crime
  • Others
    • Education
    • Economy
    • Entertainment
    • Fashion & Style
    • Health
    • Interview
    • Love & Relationships
    • Technology

Copyright © 2024 The Reflector Newspaper. Website designed by Mavens Designs.

Verified by MonsterInsights