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A rug pull involving NFT collections
The Titanium Blockchain Infrastructure Services (TBIS) case involves an American who raised $21 million in funds for a nonexistent Initial Coin Offering (ICO) which he claimed was endorsed by top guns Apple, Disney, and others. To make the scheme look more realistic, the man is alleged to have fabricated testimonies, buying the confidence of investors.
Another case has to do with a Crypto Ponzi scheme dubbed “EmpiresX”. Apparently, three men were the masterminds behind the scheme. The scammers were able to defraud investors of up to $100 million. Two of the individuals involved were Brazil nationals, whereas one was an American.
A rug pull involving NFT collections (“Baller Ape Club”) is one of the scam cases involved. The rug pull saw investors lose a combined amount of $2.6 million. The primary suspect involved in this case is 26-year-old Vietnamese national Le Anh Tuan. He is likely to face 40 years behind bars if convicted. The DoJ tagged this the “largest NFT scheme charged.”
The last case involves a crypto commodities scam in which 49-year-old…
