Vatican Dismisses Ties to Fraudulent Token
A cryptocurrency scheme falsely claiming endorsement from the Vatican has been exposed, prompting an official denial from the Vatican Bank.
The so-called “Vatican Chamber Token” (VCT) was marketed through a fraudulent website impersonating a non-existent entity called the “Vatican Chamber of Commerce.”
The website misled visitors with promises of elite membership in what it described as “one of the world’s most exclusive economic institutions,” referring to the Institute for Religious Works (IOR), better known as the Vatican Bank.
It further offered access to a presale for VCT, along with promises of exclusive investment opportunities, asset management perks, and elevated status in financial circles.
The scammers laid out a detailed tokenomics model, citing a total supply of 10 million tokens, 7 million designated for circulation, and the remaining 3 million held in reserve.
Each token was priced at €25 during the presale phase. Applicants were required to meet certain financial thresholds—such as operating businesses with at least €100,000 in annual revenue or crypto projects with €300,000 in total value locked (TVL)—and to uphold values like transparency and ethical governance.
Despite the professional appearance of the site and the use of a phone number linked to the real IOR, Vatican officials confirmed they had no involvement in the VCT offering. They labelled the campaign a scam and warned investors to remain cautious of projects that leverage religious or institutional names to feign credibility.
