THELOGICALINDIAN - The US Administration of Amends DOJ has answerable two bodies allegedly abaft a milliondollar nonfungible badge NFT rug cull arrangement They alone the NFT activity aural hours afterwards affairs out deactivated the website and transferred over 1 actor in crypto to the wallets they controlled the amends administration explained
NFT Purchasers Defrauded in a Rug Pull Scam
The U.S. Justice Department appear Thursday that two 20-year-olds accept been answerable in a “non-fungible badge (NFT) artifice and money-laundering scheme.” The defendants, Ethan Nguyen and Andre Llacuna, allegedly defrauded purchasers of NFTs advertised as “Frosties.”
According to the DOJ, on or about Jan. 9, the defendants “abandoned the Frosties NFT activity aural hours afterwards affairs out of Frosties NFTs, deactivated the Frosties website, and transferred about $1.1 actor in cryptocurrency gain from the arrangement to assorted cryptocurrency wallets beneath their ascendancy in assorted affairs advised to conceal the aboriginal antecedent of funds.”
U.S. Attorney Damian Williams said:
Nguyen and Llacuna were arrested in Los Angeles, California, as they able to advertise a additional set of NFTs advertised as “Embers,” the DOJ noted.
The Justice Department believes that Embers is “another artifice scheme,” acquainted that it was accepted to barrage on or about March 26 and advancing to accomplish about $1.5 actor in cryptocurrency proceeds.
The defendants “are anniversary answerable with one calculation of accomplish wire artifice … and one calculation of cabal to accomplish money laundering,” the DOJ said, acquainted that anniversary calculation carries a best book of 20 years in prison.
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