Is Hermes Protocol a scam?

Asked about Hermes Protocol (HERMES), market cap rank #6976.

Short answer

Hermes Protocol (HERMES) has been scored on isthiscoinascam.com and has a low score, indicating elevated scam risk based on the available data.

Source: isthiscoinascam.com · Updated 2026-06-06

Red flags raised

  • Team is anonymous
  • Token supply can be minted by the owner
  • Trading volume is near zero
  • Not listed on any high-trust exchange
  • No hard cap on total token supply
  • Less than 50% of supply is circulating
  • Very low on-chain liquidity

Positive signals

  • Project documentation exists describing Hermes Protocol as an on-chain notification/communications platform (though it may reflect a different Hermes product name than the HERMES token wrapper/DEX scope, so treat cautiously).
  • Public GitHub org for the associated MaiaDAO codebase is available.

Security audits

1 audit on record.

  • Cyberscope — unknown

Team transparency

The Hermes Protocol team is anonymous — public identities are not on record.

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