In this review we explain why Safuu is just a vulgar Ponzi scheme that is destined to crash hard.
What is Safuu
Safuu stands for Sustainable Asset Fund for Universal Users. It is a financial platform running in the Binance Smart Chain with its own token Safuu.
The main product is the auto-staking protocol SAP that offers an unbelievable 383,028.80% APY thanks to auto compounding.
Interests are paid every 15 minutes and the theory is that if you buy $1000 worth of Safuu token and don’t touch it, after one year you will be a millionaire with 3,830,454.12 USD.
But is it really possible, is it a legit investment opportunity, can you become a millionaire with Safuu?
Safuu is a scam
Let’s not beat around the bush, Safuu is a dirty scam that is not even trying that hard to hide the fact that it is running an illegal Ponzi scheme. This fraudulent platform is going to collapse and lose money to people, there is no other possibility.
Now let’s explain in details why.
Let’s start by the man who is behind Safuu. His name is Bryan Legend, formerly known as Bryan Seiler.
This man was involved in at least three crypto projects that turned out to be scams: Clever DeFi, Fitrova and Tagz Exchange.
All these projects ended up in tears for people who had their money invested in them. Clever DeFi was rug pulled, meaning money was stolen from the system and people were left empty-handed.
The other two, Fitrova and Tagz Exchange lived through a similar fate. Bryan Legend (Bryan Seiler) keeps saying that these were just businesses that failed, that he just was not good enough to run them successfully.
But that’s not what people who lost money in those projects say. Users say all these projects were rug pulled. You will also find that for example Fitrova used shady tricks like displaying partners on its website that in reality were not partners of the project.
So the first huge red flag for Safuu is that it was built by a known scammer who goes by the name Bryan Legend.
Everything is safe, until it is not
Safuu is supposed to be safe because it runs in the BSC blockchain, because it has the Safuu Insurance Fund (SIF), because it burns tokens, because tokens in the smart contracts have time locks and so on.
But in reality, this is just talk. For example, Bryan Legend’s previous project Clever DeFi also supposedly was bullet proof with time locks etc., but ended up in a rug pull where tokens were pulled out of the smart contract and basically stolen from the users.
How will Safuu be rug pulled? Difficult to say at this moment. We are not smart contract experts, but one huge red flag is in The Fire Pit.
It is a mechanism for burning Safuu tokens. The tokens that are supposed to be burned are sent to an address (account) in the blockchain that is supposed to be dead.
This is usually done by sending the tokens to a known dead address that you will easily recognize because it will look something like this: 0x000000000000000000000000000000000000dEaD.
But Safuu’s supposedly dead address is 0xaA32C984AfDfa6B95e88B8aB7faBfa65De89b98C, which is a regular account in BSC.
Legend admitted that it is not a dead address per se, that he generated the address. But he claims that he never saved the private key to that address and that is why it is dead.
Will you believe him that he deliberately “lost” the keys to that address? Will you believe a guy that was involved in three crypto scams that this time is different and a rug pull won’t happen because he did not save the private key?
So that’s one thing, you can’t be sure that the tokens from the Fire Pit won’t be pulled out and sold in the open market to crash the price of the Safuu token.
Speaking of which…
Safuu useless token
The whole project runs on the Safuu token. But when you try to find out what the token is good for, you will have a hard time.
In reality, Safuu has no utility at all. It is just a vehicle for money in an illegal financial scheme. The official website does not even pretend that the token has any other purpose. In our opinion it makes it an unregistered security, but ask your financial regulator for a professional verdict.
The token is just used to get real money (real cryptos) from people. Sure, smart contracts run different mechanisms on the token and the whole system, but their only purpose is to try and artificially inflate the price of the token.
Nobody outside the Safuu scam is using the token for anything. And that’s one of the reasons why its price keeps falling. As you can see in the picture below, the token lost 95% of its initial value in just a few months.
Is that a cryptocurrency you want to invest your money in?
How the Safuu scam works
Beneath the surface Safuu is just a vulgar Ponzi scheme. It uses some shady mechanisms that are supposed to help it to survive longer than usual Ponzis, but they can’t create miracles.
Don’t mind the auto staking, auto compounding, burning, debasing and all the other things. Ask yourself one basic question: where the profits are coming from?
The answer is simple: from a pyramidal scheme that hopes that people will be endlessly willing to buy the Safuu token at higher prices. Which is utopia.
In the Safuu system you have only two compounds: the token and people willing to buy it. Calling this a DeFi platform is an insult.
Scams like these just create and burn their tokens in different ways, hoping that people will believe that the price will rise.
But what always happens is that once the initial demand is exhausted, everything starts falling apart, the token loses its value, people start cashing out more, and that creates a death spiral.
Usually, when people who run these projects see that the potential has been exhausted, they do a rug pull and run away with what’s left in the system.
So that is what awaits Safuu, an inevitable crash. The only question is whether it will be a slow death or a quick rug pull. If you are invested in the project, you should get out while you can.
Or do you think that if mutli-billion dollar projects like Luna and Celsius were not able to sustain 20% yearly returns, Safuu will be able to sustain 383,028.80% and make millionaires from people who started with just hundreds of dollars?
If you believe it, you have a serious problem which makes you an easy victim for scammers. And you have to change that.
Safuu review – Conclusion
Safuu is an illegal financial platform and a Ponzi scam. It is based on the hope that people will keep buying the token because it is supposed to make them money because people will keep buying it. It is going to collapse, stay away from it.
The Safuu token is useless and it only serves as fuel in a fraudulent scheme that is run by Bryan Legend, who is known for its involvement in three other scams that have already crashed.