ParodyCoin (PARO) SCAM: A marketing fiasco you don’t want to be a part of

ParodyCoin (PARO) SCAM is another cryptocurrency-based project that investors are advised to stay away from. In the last few days, TheCoinRise has raised voices against many crypto scams, and we have already covered this scam, but since the team behind this project continues to operate, we will once again reiterate and uncover new facts about this project. 

ParodyCoin (PARO) SCAM project describes itself as follows: 

“A deflationary utility token built on Binance Smart Chain (BEP20). Our passive income system is thoughtfully designed to give you more control. Our Paroflection mechanism will generate earnings in our native PARO token, while our ParoRewards system will generate earnings in any BEP20 token you desire.”

As noted in our previous ParodyCoin (PARO) SCAM article, all the things mentioned above are false, and there is not a single methodology mentioned anywhere to prove the utility of the token except false promises.

Interestingly, YouTubers have pointed out how ParodyCoin (PARO) scam is taking place:

ParodyCoin (PARO) SCAM: What lies within

Here are some major reasons why we consider ParodyCoin is a scam:

Audit

The first and foremost reason is the absence of an audit. When we clicked the audit link on the website, it showed that CertiK had audited the platform while, in reality, the audit is still ongoing. On the other hand, how can a project begin its presale phase without a complete audit? 

Where are the founders, the dev team, and the partners?

No word has been heard from the development team or the founders. There is not a single KYC-verified entity that TheCoinRise came across. Additionally, the project also boasts partners like Binance Smart Chain, CoinMarketCap, CertiK, and more. But this is just another marketing strategy. None of these firms have ever backed the ParodyCoin (PARO) SCAM.

User dissatisfaction

Users have complained via the Telegram channel that the supply of the token was raised from 300 million to 240 billion, and no explanation was provided for the same. A rise in supply means that the project creators want people to buy a higher number of tokens and dump the prices on them in the near future. 

Users have complained that the prices of the ParodyCoin (PARO) SCAM token have remained stagnant for a long time. Users have also pointed out the absence of organic articles and the presence of paid ads. 

Whitepaper

All the promises made in the whitepaper about the ParodyCoin (PARO) SCAM ecosystem, including the Paroverse and others, seem to be a farce. TheCoinRise did not see any product that has been released by the project and hence, believes that the creators are trying to lure in more users by using fancy DeFi and blockchain-related terms. 

Conclusion

To conclude, ParodyCoin (PARO) SCAM is not worthy of investment, and people are advised to stay away from this project. We have more than enough evidence to show that this project is just a product of false advertisement, and investors are advised to remain alert and never invest in a project without thorough investigation. 

You should also check out a similar marketing-based blockchain scam: Gnox (GNOX) scam.