Regulatory Alerts2025-06-05
Illegal Operator Alert - Punisher Coin
The Securities and Exchange Commission (The Commission) has issued an alert regarding "PUNISHER COIN" ($PUN), stating that its promoters are not registered to operate in the Nigerian Capital Market and the coin is not approved for public issuance. Preliminary investigations reveal PUNISHER COIN is a meme coin, which typically lacks intrinsic value or projects and is susceptible to pump and dump schemes, a fraudulent activity where promoters inflate prices before selling. The public is advised to refrain from participating in the purported presale, as any investment is at their own risk, and to always verify the authenticity and registration status of virtual assets and their promoters.
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