Creator of Mutant Ape ripoff NFTs pleads guilty to $3M fraud scheme

The creator of the Mutant Ape Planet nonfungible token (NFT) collection — a knock-off of Yuga Labs’ Mutant Ape Yacht Club project — has pleaded guilty to conspiracy to commit wire fraud in a New York federal court.

In a Nov. 14 statement, the U.S. Attorney’s Office for the Eastern District of New York said French national Aurelien Michel pleaded guilty to executing a “rug pull” and admitted to defrauding investors out of $3 million in connection with the fraudulent Mutant Ape Planet NFTs.

Nonfungible Token (NFT) Developer Pleads Guilty to an International Scheme to Defraud NFT Purchasers

Aurelien Michel Conspired to Steal From Purchasers of “Mutant Ape Planet” NFTs Through…

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