Self-proclaimed cryptocurrency sleuth ZachXBT’s investigation into Boneheads NFT ragpull is cited in a Canada-based lawsuit. Learn beneath for extra info.
TL;DR
- Crypto Detective ZachXBT’s Investigation into the $3.1 Million Rag Pull of the Boneheads NFT Challenge Is Utilized in a Canadian Lawsuit.
- Boneheads NFT scammers transferred funds to change accounts and used the remainder of the proceeds to buy high quality chip NFTs.
- The undertaking founders had been uncovered by ZachXBT, leaving boneheads NFT holders stranded whereas revealing their identities and lavish life.
Citing ZachXBT investigation in litigation
Cryptocurrency sleuth ZachXBT as soon as once more made headlines when their $3.1 million NFT rag-pull investigation went to courtroom. In different phrases, Canada sued the Boneheads NFT undertaking for working away with hundreds of thousands of {dollars} after defrauding the neighborhood in 2022.
Specifically, the story of the undertaking dates again to 2021 when it launched its debut assortment of 10,000 NFTs. An nameless crew created his NFTs and offered them for 0.1 ETH every. Boneheads’ roadmap included giveaways, real-world merchandise, and Web3 utilities.
These thrilling plans and the respectable high quality of every NFT satisfied collectors to purchase it. Bonehead was minted shortly after launch, and that is the place the tragedy started.
The undertaking disappeared from all social media pages and Discord servers simply weeks after its creation. Six months later, ZachXBT investigated the place the funds had been spent to reveal the NFT ragpull Through Twitter.
What did the bonehead NFT scammers do by withdrawing cash on the NFT lag?
In accordance with ZachXBT’s investigation, the undertaking founders transferred a number of the minted funds to a number of change accounts. In the meantime, the remainder of the proceeds had been used to purchase high quality NFTs resembling CryptoPunks, RTFKT’s CloneX and Bored Ape Yacht Membership.
Nevertheless, the id of the founder was hidden in plain sight. The subscription type on the Boneheads web site included a Canadian handle. ZachXBT used this handle to reveal its two co-founders, Alexandra and Ivan.
Surprisingly, Alexandra revealed Boneheads NFT artwork on her private Twitter Earlier than The undertaking has began. To make issues worse, she additionally boasted about her extravagant life-style shortly after the undertaking got here to a halt.
In different phrases, the undertaking founders lived their greatest lives whereas leaving 1000’s of bonehead NFT holders stranded.
The NFT Challenge contacted ZachXBT after he uncovered it and out of the blue began posting on social media once more to cowl up the ragpull. However once more they did not preserve their promise. And now it is as much as the Canadian courts to settle the case.
