Creator of Mutant Ape ripoff NFTs pleads responsible to $3M fraud scheme

The creator of the Mutant Ape Planet nonfungible token (NFT) assortment — a knock-off of Yuga Labs’ Mutant Ape Yacht Membership undertaking — has pleaded responsible to conspiracy to commit wire fraud in a New York federal court docket.

In a Nov. 14 assertion, the U.S. Lawyer’s Workplace for the Japanese District of New York mentioned French nationwide Aurelien Michel pleaded responsible to executing a “rug pull” and admitted to defrauding buyers out of $3 million in reference to the fraudulent Mutant Ape Planet NFTs.

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