Vatican Bank refuses link to questionable Vatican Chamber Token (VCT) crypto fraud project

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Vatican Bank has firmly rejected its relationship with a fraudulent crypto initiative that was mistakenly branded as the “Vatican Trade Office” that promotes fake membership and token sales.

Featuring a forged Vatican Room Token (VCT), the fraud project uses sophisticated phishing tactics, including the misuse of Vatican Bank’s actual contact information to deceive potential investors.

According to a spokesman for the Vatican Bank, cited by Coinotag, the organization has decisively rejected its ties with the scheme, labeling clear fraud designed to misuse unsuspecting individuals.

Vatican Bank has denied the fake crypto project “The Vatican Trade Office” and its fraudulent Vatican Room tokens (VCTs), during the growth of phishing scams.

Vatican Trade Fraud Token Exposure: A closer look at fraudulent claims

The so-called Vatican trade fraud has promised exclusive benefits to its members, including referrals to private investors, holding assets under management, and preferential access to tokenized asset provisions. The project’s website claims that membership grants “recognition and reliability” within elite economic institutions, a fully manufactured claim.

The fake tokens, Vatican Room Tokens (VCTs), were sold at a total supply of 10 million tokens, each selling for 25 euros, with a circular supply of 7 million tokens. It appears that almost a third of tokens are reserved for future development and operational stability. But these numbers are part of an elaborate deception designed to tempt investors into false sense of security.

Fishing Tactics and Website Refinement

The scam website has spent quite a long time looking legitimate to incorporate the Vatican Bank’s actual phone number to make it more reliable. Additionally, a suspicious edit was made to the Vatican Bank Wikipedia page, inserting a link to the date of the fraudulent project creation.

The “Buy Token” button, which further complicates the façade of the scam, redirected users to Coinbase wallet pages, but the URL comes from the suspicious subdomain (vaticantrade.cb.id) linked to the currently derated page. This misuse of Coinbase’s Ethereum Name Service (ENS) integration highlights the evolving tactics employed by fraudsters to leverage trustworthy platforms.