Two 20-year-olds due to alleged NFT fraud of USD 1.1 million, in which investors were cheated
Two 20-year-olds due to alleged NFT fraud of USD 1.1 million, in which investors were cheated
- Ethan Vinh Nguyen and Andre Marcus Quiddaoen Llacuna were charged with conspiracy for wire fraud and for conspiracy for money laundering
- The duo threatens up to 20 years in prison, according to the public prosecutor's office
The 20-year-old creator behind an alleged NFT fraud of $ 1.1 million were arrested on Thursday-just a few days before they started another potential fraud program.
Ethan Vinh Nguyen and Andre Marcus Quiddaoen Llacuna were charged with the wire fraud and the conspiracy for money laundering. The duo threatens up to 20 years in prison said Prosecutors .
In January, blockwork reported for the first time that operators of the non-fungable tokens (NFT) collection have called
Marcellus King, an initial collector who lost about $ 3,000 by the RUG Pull to ether, told Blockworks that he was "glad that these fraudsters have happened justice". "I am also glad that others in this wild west room that the authorities are watching were made aware of it," said King. "This will help to bring more honesty and responsibility to the NFT market." on January 9, after 8,888 Frostie-Nfts were caught by OpenSea manufacturers on the marketplace, shortly after Discord and Twitter were closed. The project founders collected stolen funds and, after promised premiums, such as "Staking Metavers". [and] breeding functions "and" [BECOMING] Right to owner premiums ", says the original website of the project, which has now been switched off. The controllers of the developer's wallet address have transferred according to most of the originally stolen funds utherscan . According to a criminal complaint, Nguyen admitted and apologized to a moderator of Frosties community discord server-he sent the mod some ether "for [Their] problems." "I know that is shocking, but this project is coming to an end. I never intended to keep the project going and I have no plan for anything in the future," the message says. "I want you to know that I am interested. I guess you, even if you don't appreciate me." The accused also had plans for a follow-up collection according to the complaint after they had branched off funds from their first project. The project called "Embers" should start on March 26 - two days after the duo was arrested. The project's turnover was estimated at around $ 1.5 million. Ashley, a Frostie NFT owner, said Blockworks that the arrest was "a surprise", but that "she had always heard rumors [The Project] were examined." "We hope that this criminal case will create a precedent for everyone else who comes to the NFT room to cheat an innocent community," said Ashley, who does not reveal their last name. "It is the first big passage in the NFT world, so fraudsters should take note." About 37 % of all revenue from cryptocurrency fraud comes from RUG Pulls-according to a blockchain research company, Krypto worth $ 2.8 billion $ 2.8 billion in the past year chain analysis. "The trend market and the demand for NFT investments not only attracted the attention of real artists, but also fraudsters," said Ricky Patel, a special agent for Homeland Security Investigations, in A statement. "[The Two Left] Investors with empty bags and without legitimate investment."
. . The contribution two 20-year-olds due to alleged NFT fraud in the amount of USD 1.1 million, investors are not financial advice.
