Fake Vatican Chamber Token promised investor perks and prestige
Vatican denies involvement in fraudulent token sale campaign VCT
The Vatican Bank has denied any connection to the sale of the "Vatican Chamber Token" (VCT), which was promoted by a fake entity called the “Vatican Chamber of Commerce.”
According to Cointelegraph, the fraudulent token was advertised on a phishing website that falsely offered “an official invitation to join one of the world’s most exclusive economic institutions” — the Institute for Religious Works (IOR), commonly known as the Vatican Bank.
The website claimed the Vatican Chamber of Commerce was accepting new applicants “for the first time in a generation” and promised access to private investors, custodial holding services, and “recognition and authority.”
The fake Vatican Chamber of Trade website. Source: Vatican Chamber of Trade, Cointelegraph
Participants were offered early access to the VCT presale, with ownership allegedly granting priority access to tokenized asset deals and exclusive events.
Tokenomics of the fake project
The token’s total supply was stated to be 10 million, with 7 million to be circulated and 3 million held in reserve. The presale price was set at €25 per token.
The site also listed eligibility criteria, requiring applicants to operate a legally registered business or project under local and international laws. Traditional businesses needed at least €100,000 in annual revenue, while crypto projects needed at least €300,000 in total value locked or €500,000 in confirmed 12-month trading volume.
Applicants were also expected to follow ethical principles such as transparency, responsible governance, financial inclusion, and sustainability.
However, Cointelegraph’s investigation revealed that the “Vatican Chamber of Commerce” does not exist. While the phone number on the site did belong to the IOR, a Vatican Bank representative confirmed they had no affiliation with the token, calling the VCT sale a scam.
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