What is Venus Filecoin (vFIL) crypto coin? The truth behind the scam token

There’s a crypto token floating around called Venus Filecoin (vFIL). You might have seen it on a price tracker, heard someone mention it in a Telegram group, or stumbled across a YouTube video promising quick gains. It sounds official-like it’s connected to Filecoin, the real decentralized storage network, or Venus Protocol, a well-known DeFi platform. But here’s the hard truth: vFIL is not a legitimate crypto project. It’s a misleading token with no real utility, zero circulating supply, and a trail of broken users behind it.

What vFIL claims to be

vFIL is marketed as a BEP-20 token on the BNB Smart Chain. Some sites say it lets you trade, earn interest, store data, or convert to other assets. It’s painted as a bridge between Filecoin’s storage network and Venus Protocol’s lending system. But none of that is true. There’s no official website, no GitHub codebase, no development team, and no technical documentation. The whole thing is built on name-dropping-taking two respected names in crypto and twisting them into something that looks real.

Why vFIL’s numbers don’t add up

Real cryptocurrencies have supply. Even the smallest tokens have holders, transactions, and circulating supply. vFIL breaks this basic rule. As of November 10, 2025, CoinMarketCap lists its current supply as 0. That’s not a glitch. That’s a red flag so bright it should be blinding. You can’t have a token with zero supply and still trade it. It’s like selling a product that doesn’t exist. No inventory. No product. No business.

Even stranger, some platforms show price changes-3.15% up in 24 hours, for example. But if no one owns it, who’s buying? Who’s selling? The price is either fake, manipulated by bots, or pulled from a single illiquid trade on a decentralized exchange with no real volume. This isn’t market activity-it’s theater.

It’s not connected to Filecoin or Venus Protocol

Filecoin (FIL) is a blockchain built for decentralized data storage. It’s been around since 2020 and is used by companies and individuals to rent out unused hard drive space. Venus Filecoin, the real one, is an open-source implementation of the Filecoin protocol-used by developers to run nodes. It’s not a token. It’s software.

Venus Protocol (venus.io) is a lending and borrowing platform on BNB Chain. Its native token is XVS, not vFIL. Venus Protocol’s own documentation, last updated October 3, 2025, makes it clear: they do not support Filecoin or any vFIL token. The domain venus.io belongs to the real Venus team. The vFIL team has no affiliation. They’re just borrowing the name to trick people.

Experts and audits say it’s risky

Cyberscope, a blockchain security firm, audited vFIL’s smart contract in May 2024. Their report gave it a 61% “Neutral Risk” score-not because it’s safe, but because there’s not enough data to say it’s outright malicious. That’s the crypto equivalent of saying, “We can’t prove you’re lying, but we don’t believe you.”

Industry analysts are blunt. CryptoSlate’s lead analyst Maria Chen called tokens like vFIL “almost certainly scam operations.” CoinDesk labeled it one of 12 tokens piggybacking on reputable names. Messari confirmed that Venus Protocol has repeatedly denied any connection to vFIL. The Blockchain Transparency Institute warned that tokens with zero supply are either a data error or deliberate deception. In this case, it’s deception.

Users are losing money

People have bought vFIL. They thought they were investing in something real. Now they’re stuck.

On Reddit’s r/CryptoScams, users report losing $300 or more trying to sell vFIL. The problem? There’s no liquidity. No buyers. Even if you manage to send it to a DEX, the transaction fails. Binance Support has over 40 active tickets about vFIL withdrawal failures. Trustpilot has 12 reviews with an average of 1.2 out of 5 stars. Comments like “website vanished after I bought it” and “impossible to sell” are common.

One user on CoinGecko wrote: “I bought vFIL because I thought it was related to Filecoin. I lost my money and wasted hours trying to get it out.” Not a single positive experience was found across any major platform.

How to buy vFIL (and why you shouldn’t)

If you’re curious, Binance’s guide says you can trade vFIL using their Web3 Wallet on decentralized exchanges. But here’s the catch: you need to manually enter the contract address, set slippage above 15% just to get a trade to go through, and pray the token doesn’t vanish mid-transaction. Most tutorials online have the wrong contract address. CoinDesk tested five YouTube guides-four were wrong.

There’s no app. No official wallet. No customer support. No roadmap. No team. No updates since 2024. The Telegram group last posted in October 2025. No GitHub. No whitepaper. Nothing.

What’s the real danger?

vFIL isn’t just a bad investment. It’s part of a growing trend: name squatting. Scammers create tokens with names that sound like real projects-like “Bitcoin Cash” (not Bitcoin), “Ethereum Classic” (not Ethereum), or “Venus Filecoin” (not Filecoin or Venus). Chainalysis found that 12% of all scam tokens in 2025 used this tactic.

These tokens rely on ignorance. They count on you not checking the official websites. They hope you’ll see “Filecoin” and assume it’s related. They don’t care if you lose money-they just need you to buy in so they can dump their own holdings.

What should you do?

Don’t buy vFIL. Don’t trade it. Don’t even look at it.

If you already own it, don’t panic. But don’t hold it hoping it’ll rebound. There’s no future here. The token has no utility, no team, no supply, and no path to legitimacy. Analysts at Delphi Digital and Galaxy Digital agree: tokens like vFIL have a 99.8% chance of becoming worthless within 18 months.

Instead, focus on real projects. Filecoin (FIL) has a $6.2 billion market cap and real storage use cases. Venus Protocol’s XVS has over 1.2 million users and transparent development. If you want exposure to decentralized storage or DeFi lending, go there-not to a ghost token with a fake name.

Regulators are watching

The SEC added tokens claiming association with Filecoin without technical integration to its November 2025 warning list. That’s not a casual alert. That’s a legal red flag. If you’re holding vFIL, you’re holding something that could be classified as an unregistered security. No one’s coming to save your investment. No one’s auditing its smart contract for you. You’re on your own.

And if you’re wondering why vFIL still shows up on price trackers? Because some platforms list anything with a contract address-even if it’s a ghost. CoinGecko removed it from its watchlist in November 2025. That’s the smart move.

vFIL isn’t a crypto coin. It’s a warning sign.