The Securities and Exchange Commission (SEC) has issued a stern warning to Nigerians about investing in Punisher Coin, also known as $PUN, describing it as an unauthorised and potentially fraudulent crypto scheme.

In a statement released Sunday from Lagos, the SEC disclosed that Punisher Coin is not registered or approved to operate within Nigeria’s capital market. The agency flagged the token as resembling a Ponzi scheme and raised alarms over its lack of intrinsic value or legal backing.

❌ No Registration, No Approval

“Our attention has been drawn to online promotions of an unauthorised presale for a cryptocurrency called Punisher Coin ($PUN),” the statement read.
The SEC also referenced a promotional article titled “Cryptos to Buy: Why Punisher Coin Could Join Avalanche and Chainlink”, calling it misleading and dangerous to retail investors.

🪙 What is $PUN?

According to the SEC:

$PUN is a meme coin — typically launched without real utility or a technical foundation.
Its value is driven solely by hype, social media trends, and manipulative marketing — the hallmarks of “pump and dump” schemes.
Such projects often lure unsuspecting investors with promises of high returns, only for the creators to abandon the project once they’ve made their profit.

🧠 Opinion: Don't Let FOMO Drain Your Wallet

In a market flooded with memes and hype-driven tokens, it’s easy to get swept up in "Fear Of Missing Out" (FOMO). But if something lacks regulation, has no clear purpose, and depends entirely on buzz — that’s a red flag, not a green light.

This is not the first time Nigerians have fallen victim to flashy crypto schemes. With rising interest in digital assets, education and caution must go hand-in-hand. Your money deserves better than to be burned in a meme-fueled bonfire.

📌 Key Takeaway

If it’s not approved by the SEC, and not backed by a real product or use case, walk away. Fast.

🔐 Stay safe. Do your research.
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#SECWarning #PunisherCoin #CryptoScamAlert #NigerianCrypto #CryptoSafety #DYOR (Do Your Own Research)