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By StellabelleX
By StellabelleX
Frosties NFT project is the first NFT rugpull I think to be prosecuted as a crime.
“Ethan Nguyen and Andre Llacuna allegedly earned around $1.1 million by selling non-fungible tokens (or NFTs) based on cartoon-like characters called “Frosties.” After selling the NFTs, they shut down the project and transferred its funds to a series of separate crypto wallets, leaving Frosties owners bereft of promised rewards.” -Verge https://www.theverge.com/2022/3/24/22995107/us-arrest-charges-crypto-nft-rug-pull-frosties-ethan-nguyen-andre-llacuna
DOJ official document: https://www.justice.gov/usao-sdny/pr/two-defendants-charged-non-fungible-token-nft-fraud-and-money-laundering-scheme-0#_ftn1
Stellabelle is an artist, writer, metaverse architect and founder of Slothicorn, one of the first creative commons cryptoartist collectives in 2017. Current project: CryptoStellas The lethal combination of greed and mediocrity in the NFT world has given birth to CryptoStellas, the alpha PFP project of 2021 by brilliant OG cryptoartist Stellabelle. Each CryptoStella is hand-painted and there will only ever be 777 of them. Ownership of a CryptoStella instantly grants you access to an exclusive club of sublime souls. All art is backed up on Arweave, the permanent web. CryptoStellas is a CC0 public domain NFT project. “You deserve the best PFP, the very best PFP, because you are one of the few people in this lousy world who are honest to themselves, and that is the only thing that really counts in the world of PFPs.” CryptoStella
CryptoStella #133: Frosties
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Gummyz
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CryptoStella #133: Frosties
Owned by
Gummyz
6
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By StellabelleX
By StellabelleX
Frosties NFT project is the first NFT rugpull I think to be prosecuted as a crime.
“Ethan Nguyen and Andre Llacuna allegedly earned around $1.1 million by selling non-fungible tokens (or NFTs) based on cartoon-like characters called “Frosties.” After selling the NFTs, they shut down the project and transferred its funds to a series of separate crypto wallets, leaving Frosties owners bereft of promised rewards.” -Verge https://www.theverge.com/2022/3/24/22995107/us-arrest-charges-crypto-nft-rug-pull-frosties-ethan-nguyen-andre-llacuna
DOJ official document: https://www.justice.gov/usao-sdny/pr/two-defendants-charged-non-fungible-token-nft-fraud-and-money-laundering-scheme-0#_ftn1
Stellabelle is an artist, writer, metaverse architect and founder of Slothicorn, one of the first creative commons cryptoartist collectives in 2017. Current project: CryptoStellas The lethal combination of greed and mediocrity in the NFT world has given birth to CryptoStellas, the alpha PFP project of 2021 by brilliant OG cryptoartist Stellabelle. Each CryptoStella is hand-painted and there will only ever be 777 of them. Ownership of a CryptoStella instantly grants you access to an exclusive club of sublime souls. All art is backed up on Arweave, the permanent web. CryptoStellas is a CC0 public domain NFT project. “You deserve the best PFP, the very best PFP, because you are one of the few people in this lousy world who are honest to themselves, and that is the only thing that really counts in the world of PFPs.” CryptoStella
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