Mutant Ape World Arrested for Alleged $2.9M NFT Rug Pull

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Mutant Ape Earth was falsely supplying tokens with staking capabilities, merch and other giveaways by way of the ape collectibles

The curator of Mutant Ape Yacht Club’s knock-off selection — Mutant Ape Planet — confesses to defrauding traders of $2.9M.

Rapid Acquire: 

  • Mutant Ape Planet’s curator was arrested in New York on January 4 at John F. Kennedy Intercontinental Airport, New York.
  • The NFT curator is dealing with costs for defrauding investors of $2.9M in a rug pull scheme.

An In-Depth Appear at Mutant Ape Monkeying About

The developer of Mutant Ape Planet—Aurelien Michel—faced arrest on January 4 at John F. Kennedy Worldwide Airport, New York.

The fraudster confessed to defrauding NFT investors of $2.9M by means of a rug pull plan.

Michel deceived NFT traders by falsely saying to offer tokens with staking capabilities, giveaways, and products collections through his NFT selection.

After all of his ape collectibles marketed out, the French citizen withdrew all cash, providing potential buyers practically nothing in return.

In accordance to Homeland Safety, Michel stole the funds almost worthy of $3M for no purpose other than own obtain.

Michel is said to say that he by no means meant a rug pull. Nonetheless, resolved to go after a single for the reason that the group was turning out to be “way way too toxic”.

Neighborhood members are combating back about these accusations on the social channel Twitter, indicating they weren’t being toxic but skeptical due to the fact of his sudden lack of activity.

What Is Mutant Ape Earth? 

Mutant Ape Earth is a wannabee edition of Mutant Ape Yacht Club which is composed of 6,797 NFTs that live on the Ethereum blockchain.

In complete, the selection has earnt $1,262 in product sales (nothing near to the OG selection it copies).

The collectibles value and product sales quantity has been rocky given that launching in January 2022.

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