The Istituto per le Opere di Religione (IOR), more widely known as the Vatican Bank, has publicly denied any involvement with a fraudulent cryptocurrency project falsely claiming to be associated with the institution.
The scam token, named the Vatican Chamber Token (VCT), was promoted through a phishing website that falsely extended a “formal invitation to join one of the world’s most exclusive economic institutions.” The site claimed that the so-called “Vatican Chamber of Trade” was opening its doors to new applicants “for the first time in a generation.”
In a further attempt to appear legitimate, the website even listed the Vatican Bank’s actual phone number. A Vatican Bank representative, when contacted by Cointelegraph, confirmed that the project “is a scam” and firmly denied any connection to it.
Vatican Chamber of Trade Crypto Scam Uncovered
There’s no record of any institution within the Vatican called the “Vatican Chamber of Trade.” In an apparent effort to boost the scam’s credibility, a link referencing the fake entity was recently added to the Vatican Bank’s Wikipedia page, falsely claiming it was established in 1950.
However, the link appears in red—Wikipedia’s way of flagging entries without proper sources—suggesting it’s likely an act of page vandalism. Edit history confirms the reference was inserted during a second revision made on June 11.
The scam’s website claimed that successful applicants would receive exclusive perks such as introductions to private investors, custodial asset holding, and increased “recognition and credibility.” It also dangled access to a presale of the fake VCT tokens, along with priority entry to tokenized asset offerings and invitation-only events.
Eligibility Requirements Prompt Scrutiny
The scam website outlines unusually strict eligibility requirements, raising further suspicion. To qualify, applicants must operate a legally registered company or project that complies with both local and international laws. Traditional businesses are required to show a minimum annual revenue of €100,000 ($117,000), while crypto-related ventures must demonstrate at least €300,000 in total value locked or a verified €500,000 in cumulative trading volume over 12 months.
Applicants are also expected to align with the organization’s stated values—transparency, stewardship, financial inclusion, and sustainability.
The promoters claim the Vatican Chamber Token (VCT) will give holders a stake in the “economic growth” of the Vatican Chamber of Trade. They allege it is backed by a diversified portfolio of tokenized assets and real-world projects.
According to the website, the VCT token has a capped total supply of 10 million tokens, each priced at €25. Seven million are said to be in circulation, while the remaining three million—nearly one-third—are earmarked for a reserve fund to support “future development and operational stability.”
When users click the “buy token” button, they are redirected to a Coinbase Wallet page. However, the redirect originates from a domain labeled vaticantrade.cb.id—suggesting the site previously linked to a now-deleted subpage on the Coinbase-controlled cb.id domain.
Coinbase allows any user to claim a “username.cb.id” subdomain via its Ethereum Name Service (ENS) integration, without requiring Know Your Customer (KYC) verification. Coinbase had not responded to Cointelegraph’s request for comment at the time of publication.
This incident follows a growing number of high-profile crypto fraud cases. In January, Washington-based pastor Francier Obando Pinillo was charged with 26 counts of fraud after allegedly defrauding more than 1,500 investors. His “Solano Fi” scheme—which he reportedly claimed came to him in a dream—could result in a prison sentence of up to 20 years.
