Aug 23, 08:38 AM

Feds Use NFTs to Notify CluCoin Scam Victims, Seize $5M in Crypto Fraud

The founder of the CluCoin project, who is accused of misappropriating $1.14 million of investor funds, has pleaded guilty and now faces a 20-year prison sentence. In an innovative move, the Department of Justice is using NFTs to notify victims of the CluCoin scam, marking the first time such technology has been employed in crypto law enforcement. This approach aims to reach the affected investors efficiently, as the founder had previously built hype for the project on platforms like Twitch, and the notifications are being sent through the Metaverse.

#CluCoin #Department of Justice #Twitch #Metaverse

Written with ChatGPT (GPT-4o).

Sources

Bitcoin.com News@BTCTN
1 year ago
Authorities in North Carolina have seized nearly $5 million in #cryptocurrency linked to an investment fraud scheme. https://t.co/ZVUHxvmZ1S
CryptoSlate@CryptoSlate
1 year ago
China extradites mastermind behind $14 billion crypto pyramid scheme https://t.co/qFk4jKlOby
Mario Nawfal’s Roundtable@RoundtableSpace
1 year ago
FEDS SLIDE INTO THE METAVERSE: NFT DROPS FOR RUGGED CLUCOIN VICTIMS The DOJ’s hitting CluCoin bag holders with NFT notifications after the founder gambled $1.14M of their funds. This guy, who built hype on Twitch, now faces 20 years behind bars. First time the feds have ever… https://t.co/mA3BeIQLaq

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Feds Use NFTs to Notify CluCoin Scam Victims, Seize $5M in Crypto Fraud

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