PushD Crypto Guide: A Scam to Watch Out For?
New must-have investment or the latest crypto scam? We're looking at Pushd crypto including what it is, whether it's a scam, and how to protect yourself.
What is PushD?
PushD (PUSHD) is a cryptocurrency that claims to power a decentralized online marketplace, offering an alternative to traditional e-commerce platforms like Amazon and eBay. However, growing evidence suggests that PushD is a scam designed to deceive investors and steal funds through fraudulent means.
Multiple users have reported losing money through suspicious token claims, unauthorized access to wallets, and misleading project promises. Security assessments indicate that the project operates as a honeypot scam, preventing users from selling or withdrawing their assets once purchased.
Read next: Rug Pulls (and How to Avoid Them)
How the PushD crypto scam works
PushD promotes itself as an innovative decentralized marketplace with features such as smart contract escrow, decentralized listings, and community governance. However, investigations into the project reveal that these claims are likely misleading. Here’s how the scam operates:
Phishing & token claim fraud: Users attempting to claim PushD tokens have reported being prompted to grant access to their wallets. In several cases, this led to unauthorized transactions draining their funds.
Honeypot mechanism: Analysis from security platforms suggests that while PushD allows users to buy tokens, selling or withdrawing them is blocked, effectively trapping investor funds.
Fake governance promises: While the project claims to use a DAO structure for decision-making, no real governance exists, and all power appears centralized with the developers.
Misleading marketing: Social media promotions and influencer endorsements have been used to lure unsuspecting investors, but real user experiences show significant losses and fraudulent activity.
Pushd crypto: Red flags and user warnings
1. Scam reports from the community
Users on platforms like Reddit and Twitter have flagged PushD as a scam. One Redditor reported that claiming tokens resulted in unrestricted access to their wallet, leading to a loss of assets. Others have highlighted the project's deceptive marketing strategies, warning new investors to stay away.
2. Security assessments indicate fraud
Scamadviser and ApeSpace's Honeypot Checker have identified PushD as a high-risk project. The website associated with PushD has been flagged with a low trust score, and blockchain analysis tools suggest that smart contract restrictions prevent token withdrawals.
3. No transparency from developers
The team behind PushD remains anonymous, and no verifiable information about its leadership exists. This lack of transparency is a common hallmark of crypto scams.
4. Fake partnerships & misleading claims
The project has falsely claimed partnerships with major blockchain platforms to gain credibility. However, there is no evidence that any reputable company or exchange officially supports PushD.
Read next: Trust Wallet Scams (and How to Avoid Them)
How to protect yourself from crypto scams
If you have interacted with PushD or suspect fraudulent activity, consider taking the following steps:
Revoke smart contract permissions: Use blockchain security tools to remove any approvals given to PushD-related contracts.
Move funds to a secure wallet: Transfer any remaining assets to a new, trusted wallet to prevent further losses.
Report the scam: Share your experience on platforms like Reddit, Twitter, and scam reporting websites to warn others.
PushD is not a legitimate cryptocurrency project but rather a well-orchestrated scam designed to exploit unsuspecting investors. Multiple reports, security checks, and user warnings indicate that the project is fraudulent, and involvement with it could lead to financial loss.
Avoid PushD at all costs and always conduct thorough research before investing in any cryptocurrency. If a project promises easy returns with little risk, it is likely too good to be true.
Read next: What are the tax implications of a crypto scam?
