Sources
Loading...
Additional media
Loading...
DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Aurelien Michel, the creator of the Mutant Ape Planet NFT collection, has pleaded guilty to defrauding investors in a scheme that resulted in a $2.9 million 'rug pull.' As part of his plea agreement, he has been ordered to forfeit $1.4 million in ill-gotten gains but will not serve any prison time. Michel's actions involved misleading buyers with promises of exclusive metaverse perks and merchandise that were never delivered. This case highlights ongoing concerns regarding fraud in the NFT market, particularly as regulatory scrutiny increases in the cryptocurrency space.
Mutant Ape Planet Founder Sidesteps Jail, Loses $1.4M Over NFT âRugâ Aurelien Michel, the creator behind âMutant Ape Planet,â manages to avoid prison but forfeits $1.4 million after the $2.9 million rug pull. Buyers were lured with promises of metaverse perks and exclusive⌠https://t.co/D9UyW6CbB6
Mutant Ape Heist: Creator Avoids Jail Time The âMutant Ape Planetâ scam mastermind, Aurelien Michel, just played the system - no jail time, but heâs down $1.4M. After selling NFTs to rake in $2.9M, he delivered nothing on his promises of merch, land, and perks, leaving buyers⌠https://t.co/DL02ylrhtv
A Fourth FTX Executive Sentenced: Forfeits $11 Billion, But No Prison Time https://t.co/zjSIFY5jbw
