Aurelien Michel, co-founder of the Mutant Ape Planet project, a fake version of the popular “Mutant Ape Yacht Club” NFT collection, has been accused of defrauding nearly $3 million of investor assets by performing a “rug pull”.
U.S. Federal Court of Brooklyn, developed by Aurelien Michel Mutant Ape Planet He accused him of defrauding investors using the NFT project. In the accusation brought by the court, it was stated that Michel deceived investors with false statements. From Investors $2.9 million Michael, who gathered had promised.
But Michael, who did not fulfill any of these promises, used the said amount for his personal expenses, according to the allegations made by the court. Michael, after the accusations in the case New York John F Kennedy At the International Airport arrested by law enforcement.
“Rug coin” This event defined as file, US Department of Justice (DOJ) explained in the following statement:
Aurelien Michel allegedly performed a “rug pull”, stealing nearly $3 million from investors for his own personal use. Buyers of Mutant Ape Planet NFTs thought they were investing in a trendy collector’s item, but were deceived and did not reap any of the promised benefits.
Acknowledging the allegations in a recent Twitter Space speech, Michael blamed the NFT community. “The community has become so toxicUsing the expressions, Micheal said that he had no intention of doing rug pull at the beginning:
We never intended to do rug pull, but the community has become very toxic.