in

NFT REVIEW NEWS Bankless Times Reveals the Top NFT Rug Pulls in the Industry


The good folk over at Bankless Times have regaled the NFT world with more of its insightful findings. This time around, compiling a list of the five biggest rug pulls in recent times. This is by no means an exhaustive list, however, it represents the largest confirmed rugs in the industry.

Top 5 Rugs

Coming in at number five is the Solana-based Iconics collection, where swindlers sold 2,000 items via pre-sale. All before, running off with the accumulated $140,000 worth of $SOL tokens. Instead of artwork, trusting collectors received a selection of worthless emoji.

Next up is a potential ruse wrapped in a fraud, as a hapless collector purchased what seemed like a legit Banksy via the official website. Soon after however, the web page disappeared, along with $336k worth of ETH. Then, in an unlikely turn of events that has left the more skeptical types suspicious, the funds were later returned.

At number three, is the infamous Frosties NFT project, that promised the world and delivered disappointment tinged with fury. Following a complete sale of 8,888 items, all social media mysteriously deactivated and the team vanished. All in all, leaving its victims $1.3 million out of pocket.

Second from top, is the biggest ever Solana heist. These mean-spirited undesirables, made $2 million from a sale of 5,000 Baller Apes NFTs at 2 $SOL each. Then vanished from the face of the earth.

So, sitting ugly at the top of the pile, sees the unforgettable Evolved Apes caper. A nefarious cash grab that saw its creator run away with a staggering $2.7 million in Ethereum. This blockchain-dwelling supervillain sold 10,000 Evolved Apes NFTs, while neglecting to even pay the artist responsible.

Keep an Ear to the Ground

Despite the many red flags, these schemes are all too common, and this list will likely update regularly. In this day and age however, it’s worth learning to recognize the shady underbelly inhabiting the NFT realm. So, with this in mind, Bankless Times will continue to add to their treasure trove of information.

Read the full article >> Here

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.





Source link

If this article, video or photo intrigues any copyright, please indicate it to the author’s email or in the comment box.

What do you think?

26 NFT Points
Upvote Downvote

Written by NFT REVIEW MARKET

I am the curator of the NFT Review Market News. If the document or content infringes any copyright, please point it out in comments and it will be promptly removed. To all the articles we include the link of the Resource that appears as Source Link If this article, video or photo intrigues any copyright, please indicate it to the author's email or in the comment box.

Comments

Leave a Reply

Your email address will not be published.

NFT REVIEW METAVERSE The Snoop Dogg Avatar Collection

NFT REVIEW NEWS NFTLND Presents the “Vitalik Moon Lambo” NFT Artefact Auction