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BankInfoSecurity.com reported that “a Vietnamese accused of orchestrating the largest non-fungible token rug draw to date is facing charges in the United States for wire fraud conspiracy and money laundering.” The July 1, 2022 article titled “US DOJ Targets Baller Ape Rug Pull and Other Crypto Fraud” included these comments:
The indictment is part of a series of cryptocurrency fraud prosecutions touted by the courts this week.
These include cases against a fraudulent investment fund allegedly trading on cryptocurrency exchanges, a global Ponzi scheme involving the sale of unregistered crypto securities, and a fraudulent initial coin offering.
Blockchain entries pointing to cartoons of anthropomorphic apes have been a hot commodity among crypto traders eagerly awaiting the promised drop of 5,000 such digital assets under the Baller Ape brand.
Each digital asset had an equivalent price of around $300 each.
High-end cartoon monkeys gave buyers access to rewards programs.
This is clearly not what everyone expected when they invested in these NFTs!
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