'Mutant Ape Planet' NFT developer accused of $2.9 million rug pull - PC Gamer

If you thought NFT buffoonery (opens successful caller tab) was implicit successful 2022, deliberation again. Mutant Ape Planet NFTs (opens successful caller tab) laminitis Aurelien Michel, a French nationalist surviving successful the UAE, was arrested astatine JFK Airport successful New York implicit an alleged $2.9 cardinal rug pull—a transgression helium allegedly says was perpetrated due to the fact that "the assemblage went mode excessively toxic."

According to the criminal complaint (opens successful caller tab) (spotted by web3isgoinggreat (opens successful caller tab)) that was unsealed past week, Michel allegedly performed a "rug pull" connected the buyers, promising benefits and rewards for their NFT purchases but moving disconnected with the wealth aft selling retired the collection. 

“As alleged, Aurelien Michel perpetrated a ‘rug pull’ scheme—stealing astir $3 cardinal from investors for his ain idiosyncratic use. Purchasers of Mutant Ape Planet NFTs thought they were investing successful a trendy caller collectible, but they were deceived and received nary of the promised benefits," wrote Ivan J. Arvelo, Special Agent successful Charge of Homeland Security Investigations. 

The 16-page complaint (opens successful caller tab) claims that Michel made "false representations of, amongst different things, giveaways, tokens with staking features, and merchandise collections." The District Attorney of NY alleges that erstwhile the NFTs were sold out, _____ "ceased communications and withdrew purchasers’ funds from the company’s cryptocurrency wallets, lining his pockets with astir $3 cardinal of investors’ money."

Michel allegedly admitted to defrauding users successful the authoritative MAP Discord nether the username '"James", saying, "We ne'er intended to rug [pull], but the assemblage went mode excessively toxic."

"Michel tin nary longer blasted the NFT assemblage for his transgression behavior," said IRS peculiar cause Thomas Fattorusso. "His apprehension means helium volition present look the consequences of his ain actions.”

As a broadside note, Mutant Ape Planet has nary narration with Bored Ape Yacht Club, a antithetic acceptable of monkey-themed NFTs.

If you are a unfortunate of this scam, you telephone the HSI Tip Line astatine 1-866-347-2423.