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    Buterin says Terra recovery should target smaller holders

    Vitalik Buterin Wants To Upgrade NFTs, Crypto Community Opposes Proposal

    U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam

    U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam

    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    APE avoids broader market weakness

    Here’s Why Apecoin (APE) Price Is Skyrocketing Today

    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

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    The Sandbox Launches Alpha Season 3 This August

    The Sandbox Launches Alpha Season 3 This August

    Virtual Showrooms: The Future of Retail in the Metaverse

    Virtual Showrooms: The Future of Retail in the Metaverse

    Netflix Goes to Decentraland to Promote “The Gray Man”

    Netflix Goes to Decentraland to Promote “The Gray Man”

    Mirror Worlds: Merging The Metaverse With The Real World

    Mirror Worlds: Merging The Metaverse With The Real World

    Manchester City Teams Up With Roblox To Unveil New Kit In The Metaverse

    Manchester City Teams Up With Roblox To Unveil New Kit In The Metaverse

    Decentraland's Third Metaverse Art Week To Go Live This Month

    Decentraland’s Third Metaverse Art Week To Go Live This Month

    Metaverse 101 with Meta Starring Keke Palmer

    Metaverse 101 with Meta Starring Keke Palmer

    Experience Ghosts Metaverse in Decentraland

    Experience Ghosts Metaverse in Decentraland

    Samsung Launches 'Space Tycoon' As Metaverse Contributions Continue

    Samsung Launches ‘Space Tycoon’ As Metaverse Contributions Continue

  • Analysis
    bitcoin

    Bitcoin Price Declines Below 50-Day MA, Is A Recovery Expected?

    TA- Trezor (TRB) Holds Strong Above $40, Will The Crypto Pullback Affect It?

    TA- Trezor (TRB) Holds Strong Above $40, Will The Crypto Pullback Affect It?

    Bitcoin

    Bitcoin Price Showing Early Signs of Fresh Downtrend, But $22.5K Is The Key

    Ethereum

    Ethereum Uptrend Vulnerable Unless It Surges Past $1,900

    TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up?

    TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up?

    bitcoin

    Bitcoin Price Must Clear This Level If It Wants To See $28,000

    Bitcoin

    TA: Bitcoin Price Won’t Go Down Quietly: Key Supports To Watch

    Ethereum

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    TA- Dogecoin DOGE Remains Bullish Despite Bearish Signs

    TA- Dogecoin DOGE Remains Bullish Despite Bearish Signs

  • Learn About Crypto
    MATIC (Polygon) Is Exploding! Here’s Why Leading DeFi Projects Are Integrating With Polygon

    MATIC (Polygon) Is Exploding! Here’s Why Leading DeFi Projects Are Integrating With Polygon

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    Common Crypto Mistakes To Avoid

    eCash (XEC) Price Prediction

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    eCash (XEC) Price Prediction

    What Is USDT Tether Token?

    What Is USDT Tether Token?

  • Regulation
    South America’s Second-Most Populous Country Considering Central Bank Digital Currency, Says Tax Agency Official

    South America’s Second-Most Populous Country Considering Central Bank Digital Currency, Says Tax Agency Official

    Huobi explains what went wrong with HUSD after stablecoin is back on track

    Huobi explains what went wrong with HUSD after stablecoin is back on track

    Crypto Exchange Gemini Rolls Out Staking for Polygon (MATIC), Says Support for Other Top Altcoins Coming Soon

    Crypto Exchange Gemini Rolls Out Staking for Polygon (MATIC), Says Support for Other Top Altcoins Coming Soon

    Biden is hiring 87,000 new IRS agents — and they’re coming for you

    Biden is hiring 87,000 new IRS agents — and they’re coming for you

    SBI lost 40% of hash rate after stopping mining in Russia: Data

    SBI lost 40% of hash rate after stopping mining in Russia: Data

    FDIC sends 5 companies, including FTX.US, cease and desist letters for making false statements about deposit insurance

    FDIC sends 5 companies, including FTX.US, cease and desist letters for making false statements about deposit insurance

    The Philippines pushes back against foreign exchanges, continuing a protectionist streak

    The Philippines pushes back against foreign exchanges, continuing a protectionist streak

    Hodlnaut cuts 80% of staff, applies for Singapore judicial management

    Hodlnaut cuts 80% of staff, applies for Singapore judicial management

    SEC Doubles Down on Bid Blocking Ripple From Obtaining Evidence in XRP Lawsuit

    SEC Doubles Down on Bid Blocking Ripple From Obtaining Evidence in XRP Lawsuit

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  • Home
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    • Bitcoin News
    • Altcoins
  • NFT’s
    Buterin says Terra recovery should target smaller holders

    Vitalik Buterin Wants To Upgrade NFTs, Crypto Community Opposes Proposal

    U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam

    U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam

    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked

    APE avoids broader market weakness

    Here’s Why Apecoin (APE) Price Is Skyrocketing Today

    ETH Whales Add Over $24 Million Worth Of Sandbox (SAND) Token

    The Sandbox Token (SAND) Eyes $1 On This Bullish Signal

    Uniswap Labs Acquires NFT Startup Genie

    Uniswap Labs Acquires NFT Startup Genie

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    Zuckerberg Confirms Instagram And Facebook Will Display NFTs Soon

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    eBay Acquires NFT Marketplace KnownOrigin, Here’s Why

    NFT Collection Doodles Sees 400% Spike In Volumes On This

    NFT Collection Doodles Sees 400% Spike In Volumes On This

  • Metaverse
    The Sandbox Launches Alpha Season 3 This August

    The Sandbox Launches Alpha Season 3 This August

    Virtual Showrooms: The Future of Retail in the Metaverse

    Virtual Showrooms: The Future of Retail in the Metaverse

    Netflix Goes to Decentraland to Promote “The Gray Man”

    Netflix Goes to Decentraland to Promote “The Gray Man”

    Mirror Worlds: Merging The Metaverse With The Real World

    Mirror Worlds: Merging The Metaverse With The Real World

    Manchester City Teams Up With Roblox To Unveil New Kit In The Metaverse

    Manchester City Teams Up With Roblox To Unveil New Kit In The Metaverse

    Decentraland's Third Metaverse Art Week To Go Live This Month

    Decentraland’s Third Metaverse Art Week To Go Live This Month

    Metaverse 101 with Meta Starring Keke Palmer

    Metaverse 101 with Meta Starring Keke Palmer

    Experience Ghosts Metaverse in Decentraland

    Experience Ghosts Metaverse in Decentraland

    Samsung Launches 'Space Tycoon' As Metaverse Contributions Continue

    Samsung Launches ‘Space Tycoon’ As Metaverse Contributions Continue

  • Analysis
    bitcoin

    Bitcoin Price Declines Below 50-Day MA, Is A Recovery Expected?

    TA- Trezor (TRB) Holds Strong Above $40, Will The Crypto Pullback Affect It?

    TA- Trezor (TRB) Holds Strong Above $40, Will The Crypto Pullback Affect It?

    Bitcoin

    Bitcoin Price Showing Early Signs of Fresh Downtrend, But $22.5K Is The Key

    Ethereum

    Ethereum Uptrend Vulnerable Unless It Surges Past $1,900

    TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up?

    TA- Binance Coin Price Fails To Break $337, Have Bulls Given Up?

    bitcoin

    Bitcoin Price Must Clear This Level If It Wants To See $28,000

    Bitcoin

    TA: Bitcoin Price Won’t Go Down Quietly: Key Supports To Watch

    Ethereum

    Ethereum Could Take Hit As The Bulls Show Weak Hands

    TA- Dogecoin DOGE Remains Bullish Despite Bearish Signs

    TA- Dogecoin DOGE Remains Bullish Despite Bearish Signs

  • Learn About Crypto
    MATIC (Polygon) Is Exploding! Here’s Why Leading DeFi Projects Are Integrating With Polygon

    MATIC (Polygon) Is Exploding! Here’s Why Leading DeFi Projects Are Integrating With Polygon

    Common Crypto Mistakes To Avoid

    Common Crypto Mistakes To Avoid

    eCash (XEC) Price Prediction

    Circuits of Value (COVAL) Price Prediction

    eCash (XEC) Price Prediction

    Kishu Inu (KISHU) Price Prediction

    eCash (XEC) Price Prediction

    Bitcoin Standard Hashrate Token (BTCST) Price Prediction

    eCash (XEC) Price Prediction

    Optimism (OP) Price Prediction

    eCash (XEC) Price Prediction

    ICON (ICX) Price Prediction

    eCash (XEC) Price Prediction

    eCash (XEC) Price Prediction

    What Is USDT Tether Token?

    What Is USDT Tether Token?

  • Regulation
    South America’s Second-Most Populous Country Considering Central Bank Digital Currency, Says Tax Agency Official

    South America’s Second-Most Populous Country Considering Central Bank Digital Currency, Says Tax Agency Official

    Huobi explains what went wrong with HUSD after stablecoin is back on track

    Huobi explains what went wrong with HUSD after stablecoin is back on track

    Crypto Exchange Gemini Rolls Out Staking for Polygon (MATIC), Says Support for Other Top Altcoins Coming Soon

    Crypto Exchange Gemini Rolls Out Staking for Polygon (MATIC), Says Support for Other Top Altcoins Coming Soon

    Biden is hiring 87,000 new IRS agents — and they’re coming for you

    Biden is hiring 87,000 new IRS agents — and they’re coming for you

    SBI lost 40% of hash rate after stopping mining in Russia: Data

    SBI lost 40% of hash rate after stopping mining in Russia: Data

    FDIC sends 5 companies, including FTX.US, cease and desist letters for making false statements about deposit insurance

    FDIC sends 5 companies, including FTX.US, cease and desist letters for making false statements about deposit insurance

    The Philippines pushes back against foreign exchanges, continuing a protectionist streak

    The Philippines pushes back against foreign exchanges, continuing a protectionist streak

    Hodlnaut cuts 80% of staff, applies for Singapore judicial management

    Hodlnaut cuts 80% of staff, applies for Singapore judicial management

    SEC Doubles Down on Bid Blocking Ripple From Obtaining Evidence in XRP Lawsuit

    SEC Doubles Down on Bid Blocking Ripple From Obtaining Evidence in XRP Lawsuit

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Home NFT’s

U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam

July 1, 2022
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U.S. DoJ Slaps Charges Against Promoters of Baller Ape Club NFT In Rug Pull Scam
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On Thursday, June 30, the U.S. Justice Department slapped charges against a person promoting “Baller Ape Club” non-fungible tokens, in what appears to be an alleged rug pull scam. The U.S. DoJ has reportedly named five people involved in crypto fraud schemes which together raised more than $130 million from investors.

In a statement released Thursday, the U.S. DoJ accused a 26-year-old Vietnamese national Le Anh Tuan of committing wire fraud and international money laundering using the “Baller Ape” NFTs. The Justice Department added that Tuan was conspiring to steal more than $2.6 million from investors.

The Baller Ape Club sold the Baller Ape NFTs featuring various cartoon figures. Soon after selling the first batch of NFTs, Tuan and his fellow conspirators engaged in a rug-pull by shutting down the project and fleeing with investors’ money.

Based on blockchain analytics, the Justice Department found that Tuan and his fellow conspirators laundered investors’ money using “chain-chopping”. This is a popular method of money-laundering that involves converting a coin to other types of funds and moving them across multiple blockchains using decentralized swap services to obscure the trail of funding. If convicted, Tuan could also be facing 40 years of prison.

U.S. DoJ Unearths $100 Million Ponzi Scheme

Apart from Tuan, the U.S. Justice Department slapped separate charges against three individuals for allegedly raising over $100 million in a global Ponzi scheme. Brazil-based Emerson Pires and Flavio Goncalves have been accused of running fraudulent crypto investment platform EmpiresX. Besides, Florida resident Joshua David Nicholas has been accused of acting as a “head trader”. Speaking on the matter, U.S. Attorney Tracy L. Wilkison for the Central District of California said:

“These cases serve as a crucial reminder that some con artists hide behind trendy buzzwords, but at the end of the day they are simply seeking to separate people from their money. We will continue to work with our law enforcement partners to educate and protect potential investors about both traditional and trendy investments.”

Rug-pull scmas have increased over the last year especially in the NFT market.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Tags: ApeBallerchargesClubDOJNFTPromotersPullrugSCAMSlaps
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