Blockchain community busts alleged $20M NFT drop scam before sale completion
Late Wednesday, internet detective and Youtuber Coffeezilla published a new video documenting how himself, along with members of the blockchain community, took down an alleged $20 million nonfungible tokens, or NFT, scam before it could come to fruition. As told by Coffeezilla, a lot of user hype previously existed for a novel crypto project called "Squiggles,", which had an NFT drop scheduled for Feb. 10. At the time, Squiggles had amassed over 230,000 followers on Twitter.
Hours before the anticipated drop, an anonymous user published a 60-page report that alleged Squiggles' founders were paid puppets. At the same time, the real people behind the project allegedly belonged to a group of serial NFT scam artists operating under the umbrella name "NFT Factory LA." Coffeezilla narrates while citing the dossi:
The alleged series of scams did not go unnoticed; however, pretty soon, Gavin, and Gabe, Ali were all doxed by angry crypto enthusiasts for orchestrating the alleged rug-pulls. As a result, they needed to hire "stooges" to carry out the work of future projects, such as Squiggles. However, before the night of the project's $20 million NFT drop, pictures circulated on Instagram allegedly showing the founder of squiggles, Arsalan, and Gavin together in the same Rolls Royce.
They later appeared at the same club holding a sign that said "Squiggles Boys," and then a photo surfaced with Gavin, Gabe, and Ali in the same photo at the same location. "Pretty quickly, people put two and two together," said Coffeezilla. Hours after launch, OpenSea delisted the project.
fun fact not in the video: Gavin, Gabe and Ali were ALSO behind MOONPORTAL, a rug I didn't even mention. They stole $65k in that one, here's proof.
Read more on cointelegraph.com
