US Court Indicts 3 Individuals for NFT Rug Pull Worth $3 Million

US Court Indicts 3 Individuals for NFT Rug Pull Worth $3 Million

The U.S. Attorney's Office for the Southern District of New York has charged three individuals in connection with the rug pull of the NFT project Evolved Apes. The three men have been charged with wire fraud and money laundering. The case stems from a 2021 incident in which the anonymous developer known as Evil Ape allegedly absconded with 798 ETH, worth $2.7 million at the time (and $3 million today). Evolved Apes had a public sale in September 2021, where it sold over 4,000 NFTs and raised millions of dollars. The three individuals charged in the indictment are: Ethan Nguyen, aka Evil Ape Andre Llacuna, aka HeyAndre * Jeremy Nygaard, aka Jeremey21 The indictment alleges that the three men conspired to create the Evolved Apes NFT project and then abandon it after selling the NFTs. The men allegedly used the proceeds from the sale of the NFTs to purchase luxury items and invest in other cryptocurrency projects. The indictment is a significant development in the fight against NFT rug pulls. Rug pulls are a type of fraud in which the creators of an NFT project abandon the project after selling the NFTs. This can leave investors with worthless NFTs and no way to get their money back. The charges against the three men are a reminder that NFT rug pulls are a serious crime. The U.S. Attorney's Office is committed to investigating and prosecuting these types of cases. ```