Sunday, May 15, 2022

DOJ cracks down on ‘rug pulls’, charging Frosties NFT project founders By Cointelegraph

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The Department of Justice (DOJ) has taken action against an alleged NFT rug pull, after it slapped the founders of the Frosties project with charges relating to fraud and money laundering.

The two founders are accused of purposely concealing their identities to operate a rug pull on the Frosties community by failing to deliver on the project’s roadmap and “utility” which touted rewards for NFT hodlers, giveaways, access to a Metaverse game and exclusive access to future mints from the project.