The U.S. Department of Justice has charged 20-year-olds Ethan Nguyen and Andre Lacuna in a fraudulent transfer fraud plot and a money laundering plot. NFT A collector from an estimated $ 2.5 million worth of cryptocurrencies.
Department store To tell Nguyen and Llacuna are alleged to have stolen $ 1 million worth of cryptocurrencies through lagoon fraud. Reveal new crypto projects, receive people’s money, and disappear without releasing the product. This includes a collection of NFTs called Frosties.
As the DOJ explains:
According to the Frosties official website, Frosties buyers are eligible to receive owner rewards such as: Above all, Freebies, Early Access to Metaverse Games, Limited Mint Pass to Next Frosty Season. In fact, around January 9, 2022, NGUYEN and LLACUNA, disguised as legal identities to Frosties NFT buyers, suddenly abandoned the Frosties NFT project within hours of the Frosties NFT being sold out, and the Frosties website. Deactivated and sent about $ 1.1 million. Cryptocurrencies are multiple transactions designed to obfuscate the original source of funds, going from the scheme to various cryptocurrency wallets under control.
But the pair didn’t seem to stop there. The DOJ said it was preparing to launch a second set of NFTs advertised as “Embers” before being arrested. This was expected to generate about $ 1.5 million in cryptocurrency revenue. “
Recommendations from the editor
Accusations of both conspiracy to commit wire fraud and conspiracy to commit money laundering can be sentenced to up to 20 years in prison.
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