XYZVerse Crypto’s KYC Claim is False, Confirms Auditing Firm Pessimistic

In our original XYZVerse crypto presale review (published in November), we raised doubts about the project’s KYC verification claim with the blockchain security firm Pessimistic. At that time, we could only confirm a basic audit of its presale smart contracts, rather than a full Know Your Customer (KYC) process. An online search for any KYC verification documents turned up empty. At that time, we also contacted Pessimistic, asking for clarification on XYZVerse crypto KYC audit claims.

XYZVerse crypto claimed KYC verification with Pessimistic auditing firm. Screenshot taken today. Source: XYZVerse website

Today, we received a response from the auditing firm. Pessimistic confirmed to TheHolyCoins that XYZVerse’s claim of passing a KYC audit is a false claim and was likely a mistake by their marketing team. They also confirmed contacting XYZVerse to remove all mentions of the supposed KYC audit and provide a link to the actual smart contract audit report.

The company included the following official statement in its response:

"Earlier today, we noticed that the FAQ section of the XYZverse website mentioned that Pessimistic had conducted a KYC audit for their team. We would like to clarify that Pessimistic does not offer KYC audit services. Upon contacting the XYZverse team to address this matter, they promptly corrected the information on their website."

Meanwhile, XYZVerse crypto has reportedly raised millions of dollars, with the KYC claim as a key point of confidence for some cryptocurrency investors. If you’re considering investing in $XYZ or any other meme coin touting third-party certifications, always confirm these claims via the official websites or direct communications from the blockchain auditing entity. As we cautioned in our original review, the lack of transparency around XYZVerse’s token, revenue sources, and auditing processes should raise red flags.

Stay tuned for future updates. In the meantime, we encourage all potential crypto investors to continue doing thorough research and remain cautious when encountering unverified claims in the crypto space.