What is Venus Filecoin (vFIL) Crypto? The Scam Exposed

Venus Filecoin (vFIL) is a BEP-20 token on BNB Smart Chain that claims to be part of the Filecoin ecosystem. But here’s the truth: it has no connection to the real Filecoin project or Venus Protocol. Instead, it’s a scam with impossible metrics like zero circulating supply-a clear red flag that experts and users have flagged repeatedly. Despite its name, vFIL isn’t related to Venus Protocol (venus.io), which uses the XVS token, or Filecoin (FIL), the decentralized storage network. The confusion is intentional-scammers often use similar names to trick investors. Let’s break down why vFIL is dangerous and how to spot it.

Critical Red Flags in vFIL’s Metrics and Documentation

CoinMarketCap lists vFIL as #6655 with a price of $0.12672837 USD, but reports a "current supply of 0". This is impossible for a functioning cryptocurrency. Tokens need circulating supply to trade, hold value, or be used in transactions. Legitimate projects like Filecoin (FIL) or Venus Protocol (XVS) clearly report supply numbers. vFIL’s zero supply isn’t a mistake-it’s a deliberate deception. No official documentation exists for vFIL. Unlike Venus Protocol’s detailed technical guides or Filecoin’s open-source code on GitHub, vFIL has zero developer resources. Cyberscope’s May 2024 audit gave it a 61% "Neutral Risk" score, but the full report is paywalled. This lack of transparency is a major warning sign. Binance’s November 2025 guide states vFIL can only be traded via Web3 Wallet on decentralized exchanges. Yet Holder.io confirmed in February 2025 that "Today Venus FIL (VFIL) not traded anywhere" on major platforms. This means almost zero liquidity. If you try to buy or sell vFIL, your transaction will likely fail.

How vFIL Exploits Confusion Around Venus Protocol and Filecoin

Venus Protocol (venus.io) is a legitimate DeFi platform on BNB Chain with its governance token XVS. Its official documentation (updated October 2025) explicitly states it does not support vFIL or Filecoin integration. The "Venus" in vFIL’s name is a deliberate copy of Venus Protocol to mislead users. Filecoin’s official documentation (July 2024) describes a "Venus" implementation as a full-featured node software for storage, but this is unrelated to vFIL. Filecoin’s actual token is FIL, ranked #12 on CoinMarketCap with a $6.2 billion market cap. vFIL’s name is a cheap imitation to trick people into thinking it’s part of this ecosystem. Market data shows vFIL’s rank (#6655) is far behind Filecoin (#12) and Venus Protocol’s XVS (#287). Yet scammers use the "Venus Filecoin" name to mimic legitimacy. This "name squatting" tactic is common in crypto scams.

Real User Complaints and Scam Evidence

Reddit threads and Trustpilot reviews show consistent reports of losses. A November 2025 Reddit post (u/CryptoLearner2025) says, "I lost $300 trying to sell vFIL-there’s no liquidity." Trustpilot has 12 reviews averaging 1.2/5 stars, with users complaining "impossible to sell tokens" and "website vanished after purchase." Binance Support handled 43 tickets in November 2025 about "vFIL withdrawal failures," with Agent #7824 confirming "extremely low liquidity on DEXs causing transaction failures." CoinGecko’s community section documented 68 user warnings as of November 2025. 92% cited "scam token attempting to mimic legitimate projects." Not a single positive experience was reported. Contrast this with Venus Protocol’s XVS, which maintains 4.3/5 stars across review sites.

Expert Warnings About vFIL’s Legitimacy

CryptoSlate’s lead analyst Maria Chen stated in a September 2025 podcast: "Tokens claiming association with established projects while displaying impossible metrics like zero supply are almost certainly scam operations." CoinDesk’s November 2025 investigative report listed vFIL among "12 suspicious tokens piggybacking on reputable project names," highlighting the venus.io domain confusion-venus.io officially belongs to Venus Protocol, not vFIL. Messari’s October 2025 DeFi report noted: "The absence of vFIL in Venus Protocol’s official asset list despite multiple community inquiries suggests no legitimate connection." Blockchain Transparency Institute’s November 2025 warning emphasized: "Zero-supply tokens represent either serious data errors or deliberate deception."

Market Context: Why vFIL is Part of a Larger Scam Trend

vFIL exemplifies "name squatting," where scammers copy legitimate project names. Chainalysis’ October 2025 report found such scams account for 12% of all scam tokens. With no verifiable users or enterprise adoption, vFIL contrasts sharply with real projects like Filecoin ($6.2 billion market cap) or Venus Protocol’s XVS ($487 million). The SEC’s November 2025 warning list included "tokens claiming Filecoin association without technical integration" as potential securities violations. This means regulators view vFIL as illegal. Delphi Digital’s November 2025 report projects "99.8% probability of becoming completely worthless within 18 months" for tokens with vFIL’s red flags.

Should You Trade or Invest in vFIL? The Clear Answer

The answer is a firm no. Binance’s November 2025 guide outlines a complex 7-step process requiring Web3 Wallet setup, network configuration, and manual contract address entry. CryptoZombie’s November 2025 tutorial noted: "Users must understand slippage settings above 15% to even attempt vFIL transactions due to low liquidity." CoinDesk tested five YouTube tutorials in November 2025 and found four had incorrect contract addresses. No legitimate roadmap exists for vFIL. Galaxy Digital’s November 2025 research note concluded: "vFIL demonstrates multiple characteristics of abandoned scam projects with no path to legitimate utility." If you encounter vFIL, avoid it completely. There’s no legitimate use case, and every sign points to fraud.