Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result

Home » Bored Ape Whale Declares $4 Million Lost In Rug Pull Scam Soon After Selling About $3 Million Of The Popular NFTs

Bored Ape Whale Declares $4 Million Lost In Rug Pull Scam Soon After Selling About $3 Million Of The Popular NFTs

Hania by Hania
April 13, 2023
in NFT News
Reading Time: 2 mins read
A A
0
Bored Ape Whale Declares $4 Million Lost In Rug Pull Scam Soon After Selling About $3 Million Of The Popular NFTs
Share on FacebookShare on Twitter
ADVERTISEMENT

BRIEF TAKE

  • The NFT whale @franklinisbored expressed on Twitter that they had lost $4 million in a “rug pull” scam.
  • The announcement was made immediately after another post claimed that Bored Ape Yacht Club NFTs must be sold due to a real-life “issue.”
  • The popular NFTs were sold by @franklinisbored for an average price of ETH 55.29, or nearly $110,000 each, according to The Block Research.

Popular Bored Ape Yacht Club supporter @franklinisbored on Twitter claims that they lost “about” 2,000 ether (about $4 million) in a rug pull scam. The allegation was made by the investor shortly after they stated in another post that they had sold “a lot” of non-fungible Bored Ape tokens.

A total of 27 Bored Ape NFTs were sold by @franklinisbored for 1,439 ETH, or about $3 million, according to The Block Research. According to The Block Research, the NFTs sold for an average price of 55.29 ETH or around $110,000 per Bored Ape. Because of the Shapella upgrade, the price of ether has lately increased.

Both statements were shared on Twitter by @Franklinisbored, who has more than 163,000 followers.

You May AlsoLike

CryptoPunk Sells for $1.5 Million Amid NFT Market Slump, Raising Fresh Optimism

CryptoPunk Sells for $1.5 Million Amid NFT Market Slump, Raising Fresh Optimism

September 10, 2024
Trump NFT Series 4 Raises $2.17 Million: Trading Paused Until 2025

Trump NFT Series 4 Raises $2.17 Million: Trading Paused Until 2025

September 2, 2024

In a subsequent post, they said, “I got the rug pulled on an investment I put almost $2,000 worth of Ethereum into, thinking it was credible due to who else invested (not naming anyone for privacy reasons)”. “Someone poured our money down into the drain after using it as a casino gambling Ponzi.”

Bored Ape Whale Declares $4 Million Lost In Rug Pull Scam Soon After Selling About $3 Million Of The Popular NFTs

Approximately an hour prior, @franklinisbored announced the sale of their Bored Apes while attempting to explain the decision.

“Due to an unfortunate [in real life] issue, I have had to sell off a lot of BAYC apes to pay off BendDAO loans while the liquidity was available,” they stated. “I won’t engage in NFT trading or Twitter for a while, and I’ll just concentrate on my personal life with my remaining apes for the time being.”

Bored Ape Yacht Club Liquidity

Bored Ape Whale Declares $4 Million Lost In Rug Pull Scam Soon After Selling About $3 Million Of The Popular NFTs

The Block Research speculated that the major NFT investor may only currently own two Bored Apes and said that as a result of the transaction, the collection’s floor price fell to its lowest point in five months.

Lenders can deposit ether to earn interest on BendDAO’s non-fungible token lending platform. Borrowers can also use their NFTs as collateral to get loans.

Read more:

Bored Ape NFT Valued $147,800 Stolen In A Phishing Attack

Yuga Labs Is Accused Of Conspiring With Celebs To Promote NFTs Targeting Bored Apes

Tags: BendDAOBYACNFT
Share77Tweet48
ADVERTISEMENT
Previous Post

Ethereum Shapella Upgrade Leaves $1.4B Jammed In The Withdrawal Queue

Next Post

Mastercard Drops Free Music Pass NFTs, Launches Web3 Music Accelerator

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

CryptoPunk Sells for $1.5 Million Amid NFT Market Slump, Raising Fresh Optimism
NFT News

CryptoPunk Sells for $1.5 Million Amid NFT Market Slump, Raising Fresh Optimism

September 10, 2024
Trump NFT Series 4 Raises $2.17 Million: Trading Paused Until 2025
NFT News

Trump NFT Series 4 Raises $2.17 Million: Trading Paused Until 2025

September 2, 2024
Bitcoin Runes Dominates NFT Space with 15.6M Transactions and $162.4M in Fees
NFT News

Bitcoin Runes Dominates NFT Space with 15.6M Transactions and $162.4M in Fees

August 29, 2024
OpenSea Faces Potential Legal Battle Over SEC’s Classification of NFTs as Securities
NFT News

OpenSea Faces Potential Legal Battle Over SEC’s Classification of NFTs as Securities

August 28, 2024
NFT Market Shows Signs of Recovery After Severe Decline
NFT News

NFT Market Shows Signs of Recovery After Severe Decline

August 27, 2024
Trump Set to Launch Fourth NFT Collection Amid Growing Public Interest
NFT News

Trump Set to Launch Fourth NFT Collection Amid Growing Public Interest

July 18, 2024
Next Post
Mastercard Drops Free Music Pass NFTs, Launches Web3 Music Accelerator

Mastercard Drops Free Music Pass NFTs, Launches Web3 Music Accelerator

Discussion about this post

Live Prices

Stay Connected

You May Also Like

  • Bitcoin Halving Update: Bitwise CEO's $100k Price Projection Sparks Excitement

    Why the Bitcoin Halving Is Happening Sooner Than Anticipated

    243 shares
    Share 97 Tweet 61
  • MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    199 shares
    Share 80 Tweet 50
  • Dogecoin Price Forecast: When Will the Much-Awaited DOGE Bull Run Begin?

    195 shares
    Share 78 Tweet 49
  • Dogecoin (DOGE) Price Forecast – Will it Reach $1?

    196 shares
    Share 78 Tweet 49
  • Sparklo (SPRK): Redefining The Alternative Investment Industry

    204 shares
    Share 82 Tweet 51
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2024 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2024 CryptoMufasa - All Rights Reserved!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Don’t Miss Out on the Best in Crypto!

Stay ahead with a weekly digest of the top news and insights—no spam, no ads, just the essential updates delivered straight to your inbox. Subscribe now for valuable content you can trust!

johnsmith@example.com
subscribe to email

Never see this message again.