TL;DR Breakdown
- MUFC fan token was all a scam.
- Coin price rallied 600% but plunged freely after.
- CoinMarketCap delists coin after previous listing.
Investors have come out to clarify that the infamous MUFC (Manchester United) fan token is a scam. This comes after an initial successful rally following its launch in August.
After its launch, there were no updates on the project until November, when the clowns behind the scam claimed an airdrop was going to hold.
After the token airdrop, 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.
Reportedly, the coin came to 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.
Exposing the scam behind Manchester United fan token
The truth about the coin got exposed days after the airdrop. A quick search about the MUFC token on social media platforms reveals a long list of cheated customers.
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 to Manchester United.
In November, the project claimed they applied to cryptocurrency tracking website ConGecko with a listing request. However, the project has not been listed on the platform until now.
CoinMarketCap initially listed the coin but delisted it warning investors it was a scam.
CoinCodex, an exchange that provides 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.
Cryptocurrency Exchange Platform CoinBase has also issued a warning, stating that they do not support MUFC.
