PayTezo is a SCAM!

PayTezo is a SCAM!

PayTezo (PTEZO), the cryptocurrency payments app which was supposed to be launched this month, is a SCAM!

According to their listing on ICObench (which has now been removed), they “envision to be the Ali-pay of Southeast Asian and the Indian market. It will allow payments and booking through both fiat and cryptocurrency”

With the app, the users would’ve been able to send money, do shopping, manage finances, pay bills and book tickets—all with their favorite cryptocurrency. According to the plans, the users would’ve been able to make direct payments to partners of PayTezo such as Uber, Vodafone etc.


Why is PayTezo a SCAM?

Here are some of the reasons why we believe that PayTezo is a scam:

  • Their website has been removed. This makes it pretty obvious that it is a scam. One could argue that this could be the result of a hack of some sort, but then, would you invest in an app which couldn’t even secure its website? I wouldn’t, and both of the reasons mentioned above would pretty much stop me from investing in them.
  • Ian Scarffe posted on LinkedIn warning everyone about PayTezo being a scam. He mentions clearly that PayTezo is using the names and images of advisors who haven’t agreed to advise.
  • Wannipha Jen Buakaew tweeted on 7th April that she has absolutely no association with PayTezo and would seek legal action against them.
  • They are banned from Telegram.
  • They use the names and images of advisors without their consent in order to bring funds to their scheme.
  • They’ve taken down their Twitter account.
  • They have been delisted from ICObench.

All of the points mentioned above a clear sign that PayTezo indeed is a scam. Wouldn’t it be really bad if you had invested in them before reading our warning? Prevent yourself from investing in ICOs which are scams by following CoinFrenzy’s official Instagram page. Also, subscribe to our newsletter to make sure that you don’t miss out on any update of ours!


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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.