08/06/2024 U.S. Charges Three in Connection With Evolved Apes NFT Scam

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The United States Attorney's Office for the Southern District of New Yorkannounced todaythat it has charged three in connection with a non-fungible (NFT) token rugpull from 2021 known asEvolved Apes.

Mohamed-Amin Atcha, Mohamed Rilaz Waleedh, and Daood Hassan are charged with wire fraud and money laundering, according to a release from the SDNY's office.

Evolved Apes was a collection of 10,000 unique NFTs, which promised avideogame that never materialized, as the anonymous developer Evil Ape vanished a week after launch, siphoning 798 ether ($3 million at today's price, $2.7 million at the current time) from the project's funds.

"The defendants ran a scam to drive up the price of digital artwork through false promises about developing a videogame," U.S. Attorney Damian Williams said in a statement. "They allegedly took investor funds, never developed the game, and pocketed the proceeds. Digital art may be new, but old rules still apply: making false promises for money is illegal."

In crypto parlance this type of maneuver is known as a rug pull, a type of exit scam in which developers raise funds from investors through the sale of tokens or NFTs, then abruptly shut down the project and disappear with the money.

According toDe.Fi's Rekt database, over $14.5 billion has been lost to rug pulls since 2011.

The largest rug pull so far has beenSouth African digital assets investment fund Africrypt which absconded with 69,000 bitcoins in 2021, worth nearly $4.8 billion.

Arts

https://finance.yahoo.com/news/u-charges-three-connection-evolved-210032711.html?_fsig=I6Os4qX4fFIpDPrHyoq_qg--%7EA

Interesting NFTs
#92257
By OthersideDeployer
The Moth Catcher
In this psychologically bed-headed portrait, a creature sets in a trance; his eyes devolved and vestigal, his third eye open but hardened and in a form resembling a Sharingan. The imagery therefore expresses an awareness existing in corporeal introspection. The creature’s mind sprouts, on the left side, an emerging face, grinning. To the right side of the head, red tentacles and fingers intertwine–a collaboration of invertebrate and vertebrate consciousness cooperatively handling paint brushes of the sort used to build an oil painting. The neck and throat bristle with random thorns, as from a rose or the upper portions of a beak sprouting from its flesh. The neck itself disassociates into layers of membranous material, terminating upon an abstracted base of convoluted forms composing its body. The nose is virtually non existent, more a sinus reiterative of the shape of the third eye. Set against the exposed teeth peering out of thick, meaty cheeks, a skeleton-like impression results. That impression sets behind a visceral set of lips and tongue, which is the creature’s prime seat of awareness. Sensual, organic, the tongue organ hangs, meaty, and with consciousness of a sea cucumber. It illuminates at the tip, drawing the attraction of a nearby moth–with mystery of purpose.
BAPE #868
BACKGROUND Purple TYPE Basic ape NECK Basic MOUTH Cigarette EYES Cool black shades HEAD Bangs EAR ACCESSORY Basic
X*Y=K
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The Slabs
The Slabs - Prixel Art Animation "She looks tired and gone in thoughts. Her arm must have cost a fortune. Definitely Sisma Corp but I can't make out the exact model." - Simon Corley, 2084, New Harbor - Music by the amazing Brian Woods. Unlockables: - Endless Random Loop App. (PC/MAC) - HD VIDEO (approx. 2 mins) - Animated GIF - Wallpaper & Print Ready PDF Dimensions: Video [1920x1080] App [Adaptive] I will send a Download Link to the buyer after purchase.