Quick Rug Pull: US Justice Dep’t Charges Two 20-Year-Olds In alleged $1.1 Mil...
Buyers who invest in trendy new projects are harmed by a so-called NFT rug pull or other related scams. However, the crypto space’s pseudonymous nature does not mean that alleged crooks may always vanish without repercussions, as a pair of NFT inventors learned. The US Department of Justice charged two men with fraud and money […]
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The U.S. Department of Justice (DOJ) has charged two people allegedly behind a million-dollar non-fungible token (NFT) “rug pull” scheme. They abandoned the NFT project within hours after selling out, deactivated the website, and transferred over $1 million in crypto to the wallets they controlled, the justice department explained.
NFT Purchasers Defrauded in a Rug Pull Scam
The U.S. Justice Department announced Thursday that two 20-year-olds have been charged in a “non-fungible token (NFT) fraud and money-laundering scheme.” The defendants,....
“You can’t solicit funds for a business opportunity, abandon that business and abscond with money investors provided you,” stressed IRS-CI Special Agent-in-Charge Thomas Fattorusso. The Department of Justice (DOJ) has taken action against an alleged NFT rug pull, after it slapped the founders of the Frosties project with charges relating to fraud and money laundering. The two founders are accused of purposely concealing their identities to operate a rug pull on the Frosties community by failing to deliver on the project’s roadmap and “utility” which touted rewards for NFT hodlers,....
A New York man has been charged with operating an unlawful money transmitting business in connection with the sale of bitcoins, the US Department of Justice announced on Friday. The government said last week that it was charging Rochester, New York, resident Richard Petix with illegally selling $200,000 in bitcoin between August 2014 and December of last year. Notably, the report does not provide information on any state-specific laws Petix was in violation of when conducting the sale. Petix's charges, the Justice Department said, are connected to a wider alleged scheme that involved money....
The majority of young consumers in the US believe that bitcoin 'helps the global economy', a new survey commissioned by The Street has revealed. 57% of the 18- to 25-year-olds that took part in the nationwide GfK survey believe bitcoin benefits the global economy, while 33% believe it helps the US dollar. It seems younger consumers are more comfortable with bitcoin than their parents or grandparents. This is not surprising, as previous surveys have indicated that younger generations are more open to digital currencies like bitcoin and litecoin. What is surprising is the fact that the 50-....
Tech entrepreneur and former anti-virus tycoon John McAfee has been indicted by the U.S. Department of Justice (DoJ) on money laundering and fraud charges. The United States Attorney for the Southern District of New York and the FBI unsealed the indictment charging McAfee and his associate Jimmy Watson with securities fraud. John McAfee Indicted by US Law Enforcement for Fraud and Money Laundering Tied to Crypto Schemes According to a press release published by the DoJ on March 5, John McAfee has been indicted for a number of charges tied to his cryptocurrency operations and his so-called....