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Profile· Questionable@Venom_network_On Ethos
Venom Network

Venom Network

6 reviews, 0% of them positive.0% positive · 6 reviews· Influence factor 9, above 2% of accounts

What people say

Received · 6Given · 0
“total scam”Venom Network kicked off with massive hype a big raise, an active testnet, and everyone hoping it’d be the next big thing. But soon, red flags popped up: team concerns, shady histories, and questionable transparency.ThreeEyedOracle · 1307· 12mo ago · negative12
“Clear Cut Breakdown of Its Weaknesses”1. Suspicious legal status The original Venom Foundation, registered in Abu Dhabi’s ADGM, officially ceased operations in early 2024. Yet, the “Venom” brand continues to promote activity online, creating confusion about who’s actually running the project and whether it even has a valid legal entity behind it. 2. Extreme token concentration Almost the entire token supply is held by a handful of wallets. When a few holders control 99% of a network’s tokens, decentralization is an illusion. It means the price, governance, and liquidity can be manipulated at any time. 3. Over-promising, under-delivering Venom’s marketing boasts of 150,000 transactions per second but those tests happened in a closed, private environment, not on a real public mainnet. So far, there’s no public evidence that these numbers are achievable in practice. 4. Questionable management and team turnover Reports suggest outsourcing, weak internal coordination, and staff departures. For a supposed “next-gen blockchain,” such instability at the core team level is a serious red flag. 5. Lack of transparency and real world utility The project’s website offers glossy marketing language but provides little concrete detail about its technology stack, governance, or genuine use cases. Without clarity, it’s impossible to assess what actual value Venom adds to the crypto ecosystem.naserya · 1346· 12mo ago · negative12
“Stay Away”Do not invest in this project. It is associated with Alibek Issaev, a known fraudster reportedly wanted in multiple countries. For more details, see this source: https://www.talk-finance.co.uk/moderntech/alibek-issaev-puts-venom-foundation-between-rock-and-hard-place-multibillion-scam-venom-network-in-progress/ He even managed to obtain a UAE license at one point, but it was quickly revoked just before the mainnet launch. Source: https://www.adgm.com/media/announcements/cessation-of-activities-by-venom-foundation-in-adgm Additionally, Perp Trading has been delisted from major exchanges like Bybit and OKX, which raises serious concerns about its legitimacy.zaksans.grvt · 1292· 1y ago · negative15
“Spotlight to Scandal”Venom Network started with huge hype when they announced their raise everyone rushed to join their testnet and hoped this was the next big thing. But then the red flags started to appear. Reports began circulating that some of the team members had scammy backgrounds, yet a surprising number of people still held faith and kept supporting them. When the token finally launched, it turned into one of the most scammy TGE events I’ve ever witnessed. The price action was brutal, and instead of focusing on building trust or delivering value, the CEO was openly celebrating with the price chart like it was a meme. It felt like a project built on hype and manipulation rather than substance. In the end, Venom Network stands as another cautionary tale in crypto: big promises, questionable execution, and a community left burned.Ehsan | احسان · 1279· 1y ago · negative10
“A $1B Hype Train That Turned Into a Crypto Joke”I still remember when Venom was gearing up to launch they were bragging about raising a whole billion dollars in funding, making it sound like the next big thing in crypto But man, what a total flop that turned out to be After making users grind through a ton of pointless busywork and taking advantage of their hype, they botched their TGE in the absolute worst way imaginable Fast forward two years later, and the project still has no clear end goal or actual purpose It’s like they never had a real plan beyond the initial cash grab Honestly, you could say its credibility is even lower than most meme coins in the market and that’s saying something, since meme coins are usually just silly jokes with no real utility anyway! This project went from a billion dollar promise to a punchline faster than you can say “rug pull”PARTOW 🔶 · 1296· 8mo ago · negative5
“big promises, big red flags”Venom Network markets itself with impressive stats—like 150,000 TPS in stress tests and a roadmap toward enterprise scale—but beneath the hype, there are several concerns that can’t be ignored. Some of the issues include: The official website venom-network.com has gotten low trust ratings from scam-detector sites due to vague information, suspicious design, and lack of strong verification or transparency. There are reports of internal instability: former leaders departing, financial pressure, and key team members leaving or being under-compensated. Cryptopolitan Some NFT projects under Venom (VenomPunks, VenomArt, etc.) have faced criticism for misleading practices: things like flashy rewards that don’t follow standard minting rules, or collections claiming supply that doesn’t align with smart contract data. Cryptopolitan The tokenomics and ownership appear to have centralization risks (large holders controlling colossal portions of supply), which raises questions about decentralization and potential for manipulation.daniloga · 1304· 1y ago · negative4
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