Mutant Ape NFT ripoff creator to forfeit $1.4M, avoids prison
Mutant Ape Planet creator Aurelien Michel pleaded guilty to defrauding investors and avoided a prison sentence. Go to Source
NFT fraud
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DOJ and FBI Unveil Charges Against 3 UK Nationals in NFT Rug Pull Scam
The U.S. Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) have unveiled charges against three UK nationals for a fraudulent non-fungible token (NFT) scheme involving “Evolved Apes,” promising a game development. “They allegedly took investor funds, never developed the game, and pocketed the proceeds.” US Charges 3 UK Nationals in NFT Rug … Read more
Creator of Mutant Ape ripoff NFTs pleads guilty to $3M fraud scheme
The French developer of the Mutant Ape Planet NFT collection faces up to five years in prison after pleading guilty to wire fraud charges. Go to Source
Hong Kong Regulator Reminds Investors of Risks Associated With NFTs
Hong Kong’s securities regulator has warned investors to be wary of risks that are associated with non-fungible tokens (NFTs). The regulator also advised investors to consider investing in NFTs only if they fully understand the risks. NFTs ‘Straddle the Line Between Collectibles and Financial Assets’ A Hong Kong regulator has said NFTs face risks that … Read more
US Arrests Former Employee of Opensea NFT Marketplace in ‘First-Ever Digital Asset Insider Trading Scheme’
The U.S. Department of Justice (DOJ) has indicted an employee of non-fungible token (NFT) marketplace Opensea in what the department called the “first-ever digital asset insider trading scheme.” DOJ Indicts Former Opensea Product Manager The DOJ announced Wednesday the unsealing of an indictment charging Nathaniel Chastain, a former product manager at Ozone Networks Inc. (aka … Read more
NFT Rug Pull: DOJ Charges Two People in Million-Dollar Scheme to Defraud Investors
The U.S. Department of Justice (DOJ) has charged two people allegedly behind a million-dollar non-fungible token (NFT) “rug pull” scheme. They abandoned the NFT project within hours after selling out, deactivated the website, and transferred over $1 million in crypto to the wallets they controlled, the justice department explained. NFT Purchasers Defrauded in a Rug … Read more
