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Nigeria’s SEC has warned the public against investing in ‘Punisher Coin’ ($PUN), labelling it an illegal, unregistered, and high-risk digital asset. The commission says the coin’s promoters lack authorisation and may be running a pump-and-dump scheme. Investors are urged to verify platforms before committing funds.
  • $PUN not registered: SEC confirms ‘Punisher Coin’ is not authorised to operate in Nigeria.
  • Illegal presale: The crypto's ongoing presale campaign is deemed unauthorised and misleading.
  • Meme token warning: SEC labels it a “meme token” with no real utility- vulnerable to hype-driven crashes.
  • Pump-and-dump alert: Investors risk being trapped in fraudulent price manipulation tactics.
  • Global trend: Nigeria joins other nations cracking down on unregulated crypto activity.
This is more than a press release. It’s a clear signal from the SEC that Nigeria's crypto watchdog is turning its focus to curbing speculative hype and digital asset scams. While meme coins like Dogecoin and Shiba Inu gained popularity globally, $PUN lacks even the modest credibility those tokens built. With crypto still under-regulated locally, the danger to uninformed retail investors remains high.

Before jumping into the next big coin, remember: if it’s not registered, it’s not protected. Verify. Ask questions. Or better yet, stay away from sketchy coins like Punisher.