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The self-proclaimed crypto sleuth ZachXBT‘s investigation of the Boneheads NFT rug pull is cited in a Canada-based lawsuit.
TL;DR
Crypto detective ZachXBT’s investigation into the Boneheads NFT venture’s $3.1 million rug pull is being utilized in a lawsuit in Canada.
Boneheads NFT scammers transferred funds to change accounts and used the remaining income to purchase blue chip NFTs.
The venture founders had been uncovered by ZachXBT, who revealed their identities and their extravagant existence whereas leaving Boneheads NFT holders stranded.
Why Was ZachXBT’s Investigation Cited in an NFT Rug Pull Lawsuit?
The crypto detective ZachXBT makes headlines once more as their $3.1 million NFT rug pull investigation is utilized in court docket. In brief, Canada has sued the Boneheads NFT venture for working away with hundreds of thousands of {dollars} after scamming its neighborhood in 2022.
Notably, the venture’s story goes again to 2021, when it launched its debut assortment of 10,000 NFTs. Created by an nameless group, these PFPs offered at 0.1 ETH per piece. Boneheads’ roadmap was full of giveaways, real-life merch, and Web3 utility to its holders.
These thrilling plans and the respectable high quality of every NFT satisfied collectors to purchase it. Boneheads minted out shortly after launch – and that’s when the tragedy began.
The venture disappeared from all social media pages and the Discord server only a few weeks post-mint. Six months later, ZachXBT investigated the place the funds went to show the NFT rug pull by way of Twitter.
What Did the Boneheads NFT Scammers Do With the Cash?
Based on ZachXBT’s investigation, the venture founders transferred a part of the mint funds to a number of change accounts. In the meantime, the remaining income went into shopping for blue chip NFTs, together with CryptoPunks, RTFKT’s CloneX, or Bored Ape Yacht Membership.
Nonetheless, the founders’ identities had been hiding in plain sight: the Boneheads web site subscription type included an handle in Canada. Utilizing this handle, ZachXBT uncovered the 2 co-founders: Alexandra and Ivan.
Surprisingly, Alexandra revealed Boneheads NFT artwork on her private Twitter earlier than the venture launched. What’s worse, she additionally bragged a few lavish way of life shortly after the venture went inactive:
In different phrases, the venture founders lived their finest lives whereas 1000’s of boneheads NFT holders had been left stranded.
After getting uncovered, the NFT venture contacted ZachXBT and instantly began posting on social media once more to cover the rug pull. Nonetheless, they didn’t ship their guarantees as soon as once more – and now it’s as much as the Canadian court docket to resolve the case.
All funding/monetary opinions expressed by NFTevening.com are usually not suggestions.
This text is academic materials.
As at all times, make your individual analysis prior to creating any sort of funding.
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