Shopayment token SPAY coinsniper scam warning

The CoinSniper page for Shopayment token now displays a warning message, and the auditing service no longer recommends investing in SPAY. provides independent audits of new token presales and upcoming ICOs, carrying out KYC (know your customer) certification to verify the legitimacy of new crypto projects and identity of their founding team members.

Their Shopayment listing now reads:

‘This project has been banned from CoinSniper. Reason: Suspicious activity. Banned until further notice.’

Shopayment Token Banned

On Telegram, a CoinSniper admin also posted:

Just to sum up, several red flags about Shopayment:

– Audit is (probably) of their presale token contract, not their actual app
– No KYC of team. Fake team reported as seen on was recently removed
– They have bold claims (major exchange listings, app works with Amazon etc), could be true but low chance
– Closed chat recently on their Telegram

That was later followed by this post:

We haven’t been able to contact the team. Due to this and other red flags, we’ve banned Shopayment until further notice. The Shopayment team is urged to contact us directly for a ban appeal.

Please stay safe everyone. In future, if you suspect a project of being a scam, please do not hesitate to contact me directly via @mattcoinsniper on Telegram.

Edit: also notified other listing platforms to investigate this listing.

This year has seen an increase in presale scams, as investors are often lured into new cryptocurrency projects early in their roadmap as the upside potential is high if a project is trustworthy.

Is SPAY Token a Scam?

The Shopayment project’s Telegram has now re-opened and next on the Shopayment roadmap is said to be:

  • The claiming of SPAY tokens on October 17th
  • Its first CEX listing on Bitmart on October 18th

It will therefore become clear this week if Shopayment is a scam or a legitimate crypto project.

Shopayment (SPAY) is on CoinMarketCap, however the market data is untracked as SPAY token is not yet tradeable on exchanges.

For the time being CoinSniper no longer promotes SPAY.

CoinSniper’s top promoted coin, with 630,227 upvotes, is currently IMPT token – another new presale.

Business2Community also ranks the IMPT presale highly as its team and developers are doxxed and KYC verified.

Also rated among the top five presales on CoinSniper is Tamadoge (TAMA), which has been listed on OKX exchange.

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