Key Takeaways
- Only months after its launch, investors have alleged MUFC(Manchester United Fan) Token is a scam
- Manchester United FC has indicated that they may not have an official fan token after all
- Major cryptocurrency tracking websites have delisted MUFC with scam warnings
YEREVAN (CoinChapter.com) – After an initial successful rally following its launch, investors have come out to claim MUFC (Manchester United Fan) Token or coin is a scam. Since hitting the markets in early Aug this year, the token failed to make news until the Airdrop on Nov 15. MUFC’s price rallied over 600% in one week following the airdrop. However, it could not hang on to its huge run and came crushing down days after.
MUFC has come into existence due to efforts from random programmers that claim to be the fans of the Manchester United football club. Through aggressive online marketing, which included an airdrop, the token’s fanbase grew in a short time.
Claiming to give fans broader accessibility, more functionalities, and lower transaction costs, the group issued the MUFC token on the Binance Smart Chain (BSC) as a native BEP-20 token.
However, looking at the project now, everything suggests it was nothing but a big cryptocurrency scam.
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MUFC(Manchester United Fan) Token is a scam
It did not take long for investors and hopeful fans to realize the people behind the project had taken them for a ride. A quick search about the MUFC token on social media platforms reveals a long list of cheated customers.
“yes, its scam! I send 500 usdt and don’t received anything,” one angry investor complained on Reddit.
Other investors took to Twitter to warn people to keep away from the MUFC.
“I am not able to withdraw airdrop mufc token its scam?”
one bewildered customer asked.
On a closer investigation, it becomes very clear that we had just witnessed another major altcoin scam.
“Come on, let’s report this, it’s clearly a scam. Don’t let new victims appear. very disappointed with this dev project. on behalf of the big name MU and it turns out this is a fraud,”
a user said.
According to one Twitter user, the official Brand Protection team of the iconic English club had allegedly confirmed that the project was in no way affiliated with Manchester United.
“We take the infringement of Manchester United’s intellectual property seriously. As such, we are currently investigating this as a priority,”
the email reads.
However, the above response from the club was related to the specific website that the user enquired about. The club has still not verified the other websites that had floated the token, including the one currently operational.
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Major tracking websites ditch MUFC coin on scam allegations
In November, the project claimed they applied to the cryptocurrency tracking website CoinGecko with a listing request. However, the project has not been listed on the platform to this day.
Moreover, even CoinMarketCap, which had initially listed the project, has now delisted it. On Nov 29, when CoinChapter covered news about the MUFC, the token was available on the popular tracking website.
CoinCodex, which provided traders with charts and real-time data on the project, also declared Manchester United Fan Token (MUFC) a scam. The platform subsequently removed the token with the following message,
“Warning: Manchester United does not have an official fan token. This token infringes Manchester United’s registered trade marks, namely “Manchester United” and the “Manchester United Crest”. We advise users to stay away from this token and its promoters, as they are using deceptive marketing. We have removed the links to this token’s website and social media channels in an effort to protect our users.”
Cryptocurrency Exchange Platform CoinBase has also issued a warning, stating explicitly that they do not support MUFC.
As fans allege, it is not only tracking websites ditching the project. Even TrustWallet has removed the MUFC coin from its platform, raising more red flags for worried buyers.
While it is difficult to access reliable data on the token due to its being delisted on all major websites, CoinPare.io suggests MUFC is trading over 40% below its all-time high of $1.63, which it achieved Aug 8.
With investors slowly finding out they have been duped, the number of complaints about the scam MUFC (Manchester United Fan) Token has pulled off will increase.
