DOJ Announces Charges Against Solana-Based NFT Developer for Alleged Rug Pull Scheme

The U.S. Division of Justice (DOJ) is squeezing charges against a Solana (SOL) non-fungible token (NFT) engineer who purportedly pulled the carpet on investors.

According to a new press release, the DOJ is charging Vietnamese public Le Anh Tuan with one count of trick to commit wire misrepresentation and one count of scheme to commit global wire extortion regarding the Baller Ape Club, a NFT contributing community.

“Shortly after the first day Baller Ape Club NFTs were publicly sold, Tuan and his co-conspirators engaged in what is known as a ‘rug pull,’ ending the purported investment project, deleting its website, and stealing the investors’ money.”

Tuan and his teammates supposedly took about $2.6 million from merchants prior to endeavoring to launder the assets by changing them over completely to various crypto resources across numerous blockchains and utilizing decentralized trade administrations to veil their tracks.

“Based on blockchain examination, not long after the mat force, Tuan and his co-backstabbers laundered financial backers’ assets through ‘chain-hopping,’ a type of tax evasion where one sort of coin is switched over completely to one more sort and assets are gotten across different digital money blockchains, and utilized decentralized digital money trade administrations to darken the path of Baller Ape financial backers’ taken assets.

In all out, Tuan and his co-plotters acquired roughly $2.6 million from financial backers.”

According to the DOJ, this is the biggest realized NFT plot charged to date. Whenever sentenced, Tuan faces a most extreme punishment of as long as 40 years in prison.

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