Visa Moves to Close Crossmint Memecoin Rewards Loophole After Block Probe

Crossmint memecoin rewards loophole

Visa announced it will terminate the loophole that allowed users to earn memecoin rewards via Crossmint’s platform, a move prompted by a recent investigation from The Block. The investigation uncovered that the scheme could be exploited to bypass traditional card‑fee structures.

Visa’s grace period ends soon

The temporary grace period, initially granted for ↓ 7 days, is slated to close next week, forcing merchants to adjust their payment flows. A spokesperson told Reuters that “we are closing the gap to protect the integrity of the payment ecosystem.”

“Compliance with card network rules remains non‑negotiable,” the official added.

While Crossmint‑powered memecoin sales continue on both iOS and Android, the imminent deadline signals tighter scrutiny across crypto‑related payment services.

Intel provided by: Chloe Winters

Venture Capital & Innovation Reporter