The Securities and Exchange Commission (SEC), has warned Nigerians against investing in Punisher Coin ($PUN), describing it as a risky, unregulated meme coin.
In a statement, SEC said the coin’s promoters are not registered and the presale lacks regulatory approval.
Investigations reveal that Punisher Coin has no utility or supporting project, making it susceptible to “pump and dump” schemes.
The public is urged to verify any crypto investment via SEC’s fintech portal before committing funds.
