Even if there are very good things happening in the world of cryptos and NFTs, there are nevertheless some lousy stories.
This is the case of the Evolved Apes project with which the founder walked away with 2,7 million dollars.
Just that.
As soon as the minting was over (the process in which buyers create the NFT on the blockchain), the scam was revealed.
The first sign was that as soon as the minting ended, the founder deleted his Twitter account and even the project website.
He got away with 798 ETH, the equivalent at the time of the scam of $2,7 million. The article on Vice very well wrote about the debacle which left a handful of investors in a state of shock.
Finally, some investors were surprised from the start by the rather mediocre marketing campaign that had been launched for this project. This is also not very surprising or very rare for NFT projects. Many remain amateurs even if in general, this type of project does not smell good.
That said, this remains a new project and NFTs still remain the Wild West in terms of regulation.
The originality of this affair, which only darkens what is most beautiful in NFTs, is certainly plan B put together by the community.
They have in fact decided to create another series of NFTs called Fight Back Apes. They elected several people from the community to manage the portfolio in order to avoid future setbacks.
Obviously, this is not enough...Even if it allowed them (for some) to learn more about NFTs (it pushed them to create their own project in fact), it is not enough.
They are certainly not going to get their money back for those who bought them more expensively... This serves as a lesson to us all, in the end.
We must always remain on our guard and analyze the project as much as possible. That said, we realize that this can happen to anyone. It's not easy to predict behavior like this.
This is why it is essential to inform yourself well about this universe before you start. It's essential. Don't overestimate your knowledge on the subject. It's still very new. We don't have the necessary perspective.
We must not forget that even if there are excellent projects like that of Fellowcious or Bored Ape Yacht some are run by crooks who take advantage of them to steal.
As low as that.
Fortunately this is a minority and we can practice recognizing scams from real projects. Sometimes recognizing them is difficult.
This is why it is important not to rush into this adventure too quickly.
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Disclaimer : This article is provided for informational purposes only. This is not financial, legal, tax or investment advice. Always do your own research before investing in a project.
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