Mutant Ape Planet NFT Developer Admits to $3M Fraud

The Mutant Ape Planet NFT developer has pleaded guilty to defrauding buyers in a rug pull scam, which resulted in a net gain of nearly $3 million, the U.S. Department of Justice (DOJ) reported. The non-fungible token (NFT) collection, a copy of the Mutant Ape Yacht Club NFTs, has been at the center of controversy.

According to the Department of Justice, the developer behind the Mutant Ape Planet NFT collection has acknowledged guilt in defrauding buyers. This rug pull scam resulted in almost $3 million in gains for the perpetrators.

The Mutant Ape Planet NFTs, a knockoff of the Mutant Ape Yacht Club NFTs, have been the subject of much scrutiny. The developer’s admission of guilt sheds light on the fraudulent activities that have plagued the NFT space.

**Source:** [U.S. Department of Justice](insert hyperlink to credible source)

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J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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