US DoJ Goes After Baller Ape Club Rug Pull
Main page News, scam, NFT, Regulations
Hot topic
July 1, 2022

The US Department of Justice (DOJ) has announced criminal charges against six defendants, including the creator of the Baller Ape Club NFT collection.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

The Justice Department said in a press release that Vietnamese, Le Anh Tuan, committed wire fraud with the "Baller Ape" NFT collection as after selling the collection, Tuan and his co-conspirators "rug pulled" investors by deleting the project's website, and stealing the investors' money.

Hong Kong Financial Watchdog Warns Against NFTs

Later, Tuan and his co-conspirators tried to hide investors' funds by moving them to the other blockchain network, and used DeFi swap services to obscure the trail of Baller Ape investors’ stolen funds. In total, the bad actors obtained about $2.6 million from investors. If convicted of all counts, Tuan might face up to 40 years in prison.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error