Rug Pull NFT Project Makes U-Turn After Team is Doxxed

The Tether and Unikoin Gold project, which is made to bring NFTs into the mainstream gaming community, has been delayed indefinitely due to technical difficulties. The team behind the project was doxxed on Bitcointalk leading up to this point in time.

The “what is an nft rug pull” is a project that was created to create a decentralized market for NFTs. The project had its team doxed, and the team has now made a U-turn on their project.

zachbxt, the renown blockchain detective of all things nefarious, is back with another NFT rug pull reveal, this time for the celebrity-endorsed Bored Bunny line. The current installment, however, has a twist, as the community volunteer’s efforts seem to have forced the rug pullers to change their minds about their nefarious objectives.  

In December 2021, the Bad Bunny NFT collection was released, claiming to be a PFP project with 4,999 NFTs at a mint price of 0.4 ETH apiece. With promises like breeding multiple NFTs, merch, IRL and metaverse events, and more, as well as endorsements from Floyd Mayweather, Jake Paul, David Dobrik, DJ Khaled, French Montana, and Chantel Jeffries, the project appeared to have a lot of promise on the surface, which led to its successful, sell out mint the following month.

The project’s first red flag came when another pseudo-anonymous investigator who goes by bax1337 revealed that a dev wallet had purchased the specialized NFTs that each depicted the project’s celebrity endorsers before the day of reveal, inferring that the team had either acquired or rigged the project’s metadata before reveal.

Two volumes, dubbed ‘Bored Bad Bunny’ and ‘Bored Mutant Bunny,’ were released in the following days, but neither sold out due to misunderstanding about the project’s true aim. The direction of the created cash after the third mint revealed further insight on the project’s maliciousness, since all such funds looked to have been funneled into centralised exchanges.

Furthermore, as the community expressed worries about the significantly falling floor pricing of each collection, the crew became aloof and indifferent to the community, raising extra red flags.

Following these events, the Bored Bunny team indicated its intention to pass over the project to a Discord mod, although it did not specify where the $21 million raised would be spent. It was virtually likely that a rug pull was taking place based on this finding.

However, in an unexpected turn of events, and possibly as a result of zachbxt publicly doxxing the project’s three alleged wrongdoers, the team has decided to stay, and has subsequently engaged in activities that align with its roadmap, such as purchasing LAND in The Sandbox and releasing some merchandise.

Given that the three identities supplied by zachbxt have links to two other rough projects, Ancient Cats Club and Crazy Camels, the team’s U-turn in the wake of their doxxing is either a tremendous coincidence or a desperate effort to save their public image.

In any case, zachbxt’s and any other community investigator’s efforts are commendable, and all we can do now is hope that the project sticks to its schedule. 

 

The “frosties nft rug pull” is a project of NFTs that was started to raise funds for the charity The Trevor Project. However, after being doxxed by an anonymous user, the team has decided to stop the project and donate all proceeds to the charity.

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