Paradox Crypto Scam? Read Our Guide First
Paradox crypto has gained a lot of publicity in the crypto space, and not all of it is good. In fact, it’s arguably one of the most controversial crypto projects out there.
This extensive guide will explain the project, its ecosystem, the founders, and the allegations about it being a scam.
Let’s dive in!
Table of Contents
What is Paradox Crypto?
Paradox crypto describes itself as a play-to-earn gaming platform featuring NFT avatars. The game claims to offer payment for playing in Paracoins.
The project literature also states that users will be able to stake tokens and, through a ventures program, earn 20% on their investments. The project has also promised 10x and 100x returns in the past, which is impossible in the world of investment. Indeed, such promises are often prohibited by law, and the US SEC specifically cites claims like these as red flags when evaluating crypto projects for fraudulent activity.
Paradox Crypto Scam Allegations
Paradox crypto has come under heavy fire this year, decried as a scam by several prominent YouTubers. But how much weight do these accusations carry?
Apart from the fact that essentially none of the many features promised by Paradox are actually live or functional, the criminal behavior of the founders has also caused many to question the legitimacy of the project. Let’s first explore the Paradox ecosystem described on the site, and then get into whether or not Paradox is one of crypto’s many scams. You can use the jumplinks in our table of contents to quickly navigate to any part of the article if you’d like to skip sections about the ecosystem.
Paradox Crypto Scam: iShowSpeed and Coffeezilla
Paradox founders Amio Talio and Fasial Tariq promoted their project through a number of crypto influencers, including a notorious interaction with teenage YouTuber iShowSpeed. The founders brought a fake lookalike to impersonate Christiano Ronaldo onto iShowSpeed’s livestream, claiming the famous footballer was associated with the project.
YouTuber Coffeezilla, known for exposing scams and interviewing FTX founder Sam Bankman-Fried, released a video on the incident below.
Fans of iShowSpeed began calling the streamer a sellout and accusing the project of being a scam.
iShowSpeed also spoke at one point directly to the founders on stream, with them reminding him that his mic was still on, leading him to cover his mouth and be heard saying he wouldn’t say something due to it being “too obvious,” with some viewers taking this as confirmation that he was deliberately scamming his own viewers. The Paradox iShowSpeed partnership certainly ended in disaster either way.
Paradox Crypto Scam
The Paradox crypto project has previously promised gains of 10x and 100x to its users. It’s completely impossible to guarantee gains of any kind in any financial investment, and such claims are hallmarks of a typical scam.
There are a number of articles online that appear to be paid PR for Paradox, although they’re not listed as such, which are full of obvious misinformation, such as one from the International Business Times stating that $PARA is the only cryptocurrency in the world to be regulated by the UK FCA regulator (it isn’t).
Amio Talio reportedly threatened a TikTok user called @nayeedmutd2 who called out Paradox for being a scam, sending him voicemail messages telling him he would beat his face in and have him kidnapped.
Talio also posted the TikToker’s address on Snapchat and offered £5,000 to anyone who would kidnap the man and bring him to Talio, also asking them to find the address of the man’s mother.
This is not the first time Talio has threatened someone’s family. Talio has also left voicemails threatening to sexually assault the mothers of people who have offended him.
Obviously, this behavior calls into question Talio’s legitimacy and his ability to safeguard any investments made in a financial project.
Paradox Crypto Audit by Certik
Paradox Metaverse has been audited by CertiK, who flagged one major issue under the category of centralization, stating that the project was centralized.
The audit further states that the team have fixed the issue in a new version, but with the caveat “awaiting a link,” indicating that Paradox may have simply stated their intention to fix the problem without doing so.
Paradox Crypto Ecosystem
The paradox metaverse is the name of the ecosystem that comprises the Paradox crypto project, and it has seven elements. They are:
- Paradox Metaverse
- Paradox Events
- Paradox DAO
- Dex Paraswap
- Paradox Pad
- The Paradox Metaverse Affiliate
- Paradox Ventures
Let’s take a look at some of these elements below.
Paradox Metaverse is the name of the video game attached to the Paradox crypto project. At the time of writing, the game is unreleased. The site states that the game will be a metaverse play to earn blockchain game featuring NFT avatars and crypto-earning opportunities throughout the game.
Users will apparently be able to embark on missions that take up to eight hours to complete, at which time the game will put missions on pause for another 24 hours.
Paradox literature states that users will be able to earn $500 a day for just four hours of gameplay, although the math here does not add up, seeing as missions require eight hours to complete followed by a full day of inactivity.
It’s important to bear in mind that absolutely none of these rewards have been confirmed or verified, and that much of the Paradox Metaverse literature is inconsistent and very unlikely to be true. Like many play to earn metaverse games, the graphics are somewhat basic at the moment, despite founder Amio Talio referring to the Paradox crypto game as “Triple A”.
The Paradox whitepaper is vague about the staking rewards, although other Paradox literature online has claimed that staking will offer 20% rewards. Current information on one of the two websites associated with the project cires 12.6% staking rewards.
It’s not clear if the function on the Paradox site actually pays out users any money for staking Paracoins. Paradox states that users will need to lock Paracoin tokens up for between one month to six months in exchange for rewards, also mentioning another virtual currency called P-save in a rather complicated flow-chart online.
Paradox Crypto: ParaDAO
Paradox claims that developers have built a decentralized autonomous organization called ParaDAO to help democratize the platform, stating “ With the ParaDAO in place, every member of the community will have the power to facilitate how the ecosystem moves forward.”
The details of this DAO, including membership numbers or whether it has actually been established or not at all, are unclear at this time.
Paradox Crypto DEX: Paraswap
The Paradox crypto site has a page showing a buy/sell feature called the Paraswap DEX. The word DEX actually means decentralized exchange, a type of exchange where users sell each other tokens peer-to-peer with no middleman, market maker providing liquidity, or centralized authority.
The feature on the website is not live, and it is not clear whether it will act as a true DEX or not.
Paradox Crypto Ventures
Paradox has made a page for a “vesting” program that is due to launch at some point. While the terminology used in the project is inconsistent and varies across the two project websites, this is likely the page intended to represent the Paradox Crypto Ventures aspect of the Paradox Metaverse, which at one point promised to offer 20% rewards in $PARA tokens.
The vesting feature is not currently live.
Paradox Crypto Affiliate
The Paradox site originally claimed to run an affiliate program that would allow supporters to sign up their friends in exchange for £5 GBP. Neither of the two websites associated with the Paradox crypto project now mention this affiliate program.
Paradox Crypto: Events
Paradox crypto claimed that they were launching a pay-per-view boxing events between social media influencers, payable only with $PARA coins.
Talio claimed that Paradox Events would be hosting a fight between influencers Jake Paul and Andrew Tate in February, leaking the information by asking users not to post a screenshot about the fight. There was no screenshot, however, and Talio appeared to simply be planting the idea of the fight hosting among his Discord users, and the event never took place.
Amio Talio University
Talio launched what he called a “university” offering to help people avoid getting scammed in the world of cryptocurrency. The link to this university is currently inactive, and it’s unclear how much money he aimed to charge people for what appears to be a self-help course, or whether anyone ever enrolled.
Talio stated that his university was the “only way to get rich.”
Paradox Crypto ParaPad
Founder Amio Talio describes the Paradox Pad as a launchpad to help users participate in the Paradox coin public presale. The Paradox pad allowed users to swap USDT in exchange for $PARA. Future projects may also be launching tokens on Parapad.
Amio Talio Arrested
Despite allegedly making threats of extreme violence against at least eight people and allegedly attempting to solicit a kidnapping through social media, as well as widespread allegations of fraud via his Paradox crypto project, Amio Talio has not been arrested or charged with any crime to our knowledge.
Talio crashed a £180,000 Lamborghini Huracan Spyder in a collision with a UPS van, and began filming himself immediately bringing up the idea of an insurance claim. He went onto social media later that day stating that the van driver was at fault. No arrests have been made and it is not clear whether Talio successfully received any insurance money from the incident, or whether he or the van driver will be prosecuted.
Paradox Crypto Price
PARADOX coin value has fallen significantly since launch, down about 95% at the time of writing. The coin ticker is described as $PARA on the website, but now appears to be PARADOX or $Paradox coin.
Either way, Paradox pricing has taken a major hit, even considering the market correction we’ve seen over the last year. Paradox coin value has likely been impacted by the failure of Paradox to release any of the aspects of the ecosystem mentioned above in the article, as well as the negative publicity attracted by the iShowSpeed and Coffeezilla debacle. Paradox token is still trading at BitMart and Huobi.
The market cap stands at $4.7 million at the time of writing.
Staking and Crypto Card: CryptoWallet.com
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Is Paradox crypto a scam?
The question of a Paradox Metaverse scam remains unanswered. One could argue that there’s no concrete evidence that Paradox crypto is a scam, but like we pointed our with our recent Big Eyes Coin article, there are plenty of red flags to go around. A project that promises guaranteed financial returns, headed by a violent criminal often caught lying about the project, is one that many investors will probably be steering clear of.
What is Paradox coin?
Paradox coin is the ERC-20 token that powers the Paradox crypto ecosystem.
Will Paradox Crypto Price Recover?
Nobody can say whether Paradox crypto price will recover or not. While the project’s reputation has been severely damaged by the criminal behavior of the founder as well as the lack of utility seen to date, the coin is still trading at this time.