‘Mutant Ape Planet’ NFT developer accused of $2.9 million rug pull
Oh no, not Mutant Ape Planet!
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If you thoughtNFT buffoonerywas over in 2022, think again.Mutant Ape Planet NFTsfounder Aurelien Michel, a French national living in the UAE, was arrested at JFK Airport in New York over an alleged $2.9 million rug pull—a crime he allegedly says was perpetrated because “the community went way too toxic.”
According to thecriminal complaint(spotted byweb3isgoinggreat) that was unsealed last week, Michel allegedly performed a “rug pull” on the buyers, promising benefits and rewards for theirNFTpurchases but running off with the money after selling out the collection.
“As alleged, Aurelien Michel perpetrated a ‘rug pull’ scheme—stealing nearly $3 million from investors for his own personal use. Purchasers of Mutant Ape Planet NFTs thought they were investing in a trendy new collectible, but they were deceived and received none of the promised benefits," wrote Ivan J. Arvelo, Special Agent in Charge of Homeland Security Investigations.
The16-page complaintclaims that Michel made “false representations of, amongst other things, giveaways, tokens with staking features, and merchandise collections.” The District Attorney of NY alleges that once the NFTs were sold out, _____ “ceased communications and withdrew purchasers’ funds from the company’scryptocurrencywallets, lining his pockets with nearly $3 million of investors’ money.”
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Michel allegedly admitted to defrauding users in the official MAP Discord under the username ‘“James”, saying, “We never intended to rug [pull], but the community went way too toxic.”
“Michel can no longer blame the NFT community for his criminal behavior,” said IRS special agent Thomas Fattorusso. “His arrest means he will now face the consequences of his own actions.”
As a side note, Mutant Ape Planet has no relationship with Bored Ape Yacht Club, a different set of monkey-themed NFTs.
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Jorge is a hardware writer from the enchanted lands of New Jersey. When he’s not filling the office with the smell of Pop-Tarts, he’s reviewing all sorts of gaming hardware, from laptops with the latest mobile GPUs to gaming chairs with built-in back massagers. He’s been covering games and tech for over ten years and has written for Dualshockers, WCCFtech, Tom’s Guide, and a bunch of other places on the world wide web.
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