The developers of the NFT collection who “Rug Pull” their users’ funds could face up to 40 years in prison if convicted of fraud and money laundering. After the project raised more than $2 million from investors and disappeared last year.
US Department of Justice (DOJ) charge Le Anh Tuan, 26, of Vietnam, charged with conspiracy to defraud and one count of conspiracy to launder international money involving Baller Ape NFT.
Tuan allegedly sold the Baller Ape NFT on the Solana blockchain, then abruptly terminated the project. and delete the website and steal investors’ money
“Tuan and his accomplices Engage in what is known as a “Rug Pull” by ending projects, deleting websites and stealing investor money,” the DOJ said.
The DOJ claims that blockchain analysis shows developers laundering investors’ money through “chain-hopping” or coin conversion By moving across blockchains and using decentralized cryptocurrency exchanges. to mask the movement of money
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