cryptoupdate
Contributor
Mutant Ape Planet NFT Creator Pleads Guilty to Wire Fraud
French national Aurelien Michel, creator of the Mutant Ape Planet NFT collection, claimed guilty to wire fraud in a New York court. Michel ripped off investors of $3 million through false promises of rewards and benefits, executing a "rug pull."Facing up to five years in prison, he must pay $1.4 million in restitution. The fraudulent NFT collection, initially thriving, was removed from OpenSea after plummeting sales and community backlash.
