The DOJ also announced three other crypto fraud cases amounting to over $100 million in potential losses.The Department of Justice this afternoon announced criminal charges against the creator of the Baller Ape Club NFT collection for orchestrating a so-called “rug pull.”
The charges, announced alongside those in three other cryptocurrency fraud cases, mark the second time that federal prosecutors have gone after an NFT "rug-pull" scheme, in which an NFT project’s creators sell NFTs on false promises of community benefits and utility, only to abandon the project and make away with investors’ funds.
more
Topic: DOJ Files Charges Against Baller Ape Club ‘Rug Pull’ (Read 412 times)
Latest news: