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《Mai Shen Says》When NASDAQ stock ticker becomes a pig-butchering scheme: FFAI presale scam breakdown

This morning in the square, many people said that Old Jia should be issuing coins. On closer inspection, it’s fake.

Intro: Jia Yeting is indeed involved in crypto, but the “FFAI seed round presale” page has nothing to do with him.

Recently, a website called `rwaffai.com` has been heavily promoting “FFAI EV-RWA Protocol.” It claims that it will sell seed-round tokens at a price of 0.05, with a fundraising target of as much as $120 million, and it promises “40–100x potential returns.” The site has a polished interface and flashy numbers, even adding the urgency of a “limited-time countdown.” But when you peel back the facade, it’s a textbook case of an impersonation presale pig-butchering scam.

Flaw one: Stock ticker code ≠ on-chain token. FFAI is Faraday Future’s stock ticker on NASDAQ, not a cryptocurrency that can be directly presold on Ethereum. Jia Yeting has indeed been working on crypto treasuries and stock tokenization (RWA) recently. However, that is regulatory-compliant financial engineering that maps U.S. equities onto the chain—not selling some “new coin” for 0.05 on a mysterious, untraceable website. The scammers are taking advantage of the real hot topic of “Jia Yeting issuing coins,” stitching together professional buzzwords (RWA, EV, PIPE) into a completely fabricated “ledger.”

Flaw two: Return promises are a red line. Regular listed companies are under strict SEC regulation and would never publicly promise “40–100x returns.” But the scam site not only dares to write it, it also includes a fake progress bar showing “76% sold” and a “only 3 hours left” countdown—classic tactics for pushing people to buy immediately. As soon as you send funds from the ETH address provided by the site, the money goes straight into the scammers’ wallet. On-chain, it’s irreversible—you end up losing everything.

Flaw three: Endorsements from top institutions are all fake. The site lists alleged top institutions such as BlackRock and Goldman Sachs, claiming they have “fully laid out RWA.” In reality, these institutions have nothing to do with the project at all; the names are simply blatant misuse.

Conclusion: Any “limited-time presale” that urges you to send coins to an unfamiliar address is, at its core, a trap racing against the clock—and you, will always be the loser.
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