Developer of Mutant Ape Planet NFTs Pleads Guilty to $3M Fraud in Rug Pull Scandal
Aurelien Michel, the developer of the Mutant Ape Planet NFT collection, has pleaded guilty to defrauding buyers in a rug pull that resulted in nearly $3 million in profit. Michel, a French citizen residing in the United Arab Emirates, was arrested in New York and faces up to five years in prison. He has also agreed to pay $1.4 million in forfeiture. Michel admitted to the rug pull in the community's Discord channel under the pseudonym "James," stating that the community had become too toxic.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hacker Hijacks Witkoff’s X Account to Promote Fake Trump Token
What Pioneers and Developers should do during Pi Open Network Phase?
Stablecoins Can Maintain Dollar Global Influence: Fed Governor
Waller warns stablecoins face "run risk" and inconsistent state regulations could limit adoption and scalability across the U.S. market.
BNB breaks above $710
Trending news
MoreCrypto prices
More
