Famous French influencer masterminds $960k NFT rug pull

Popular on-chain sleuth, Zachxbt, has revealed accusation astir different rug propulsion successful the non-fungible token scene. In a Twitter thread, helium exposed however French influencer and world TV prima Laurent Correira played a large relation successful the Billionaire Dogs Project.

Billionaire Dog NFT rug pull

The task launched successful December 2021 with promotions from assorted influencers, including Correira, promising giveaways, and luxury cars to investors. Initially, it was meant to beryllium a postulation of 6500 NFTs selling for 0.1 ETH presale and 0.2 ETH nationalist sales.

1/ Time for different $960k NFT rug this clip involving Laurent Correia a fashionable French influencer with a world TV show. pic.twitter.com/QkGeDecr5f

— zachxbt (@zachxbt) April 4, 2022

But the debased involvement successful it meant they had to trim the proviso to 2000 NFTs. However, a week aft the minting, the website and Discord server was deleted, and the squad disappeared.

If immoderate anticipation of tracking the $960k proceeds from the task looked to person disappeared, Correira himself revived it. On-chain information reveals that Correira received much than $400k of the wealth successful his nationalist wallet.

Source: Zachxbt

It was casual to hint this due to the fact that helium utilized the same wallet to bargain NFTs, including a Mutant Ape, Doodle, and CloneX. He adjacent posted the acquisition connected his societal media portion changing his Instagram illustration representation to the NFT. 

Correira appears to beryllium based successful Dubai based connected his societal media enactment and Zachxbt has tagged the Dubai Police connected Twitter to bring him to justice. But the anticipation of this remains slim, fixed the unregulated quality of NFTs.

Was Correira much than an Influencer?

This lawsuit again brings to the fore the request for regulations, particularly for NFTs. In caller months, respective influencers and celebrities person been progressive successful promoting NFT projects that yet rug pulled. 

The prevalent usage of influencer selling by crypto projects explains wherefore immoderate countries, including Australia, are trying to regulate fiscal influencers.

While Zachxbt mightiness person exposed the full task arsenic a rug pull, erstwhile revelations suggest that Correira was much of a mastermind than an influencer. As acold backmost arsenic January, a Dubai businessman named Mohammed Amin revealed the scam successful an interview. 

Then, helium accused Correira of deceiving him and different investors who bought the NFTs based connected respective promises. 

Correira, it was said, utilized his flashy societal media beingness to lure them in, claiming that renowned personalities similar Kanye West and Lebron James were involved. But helium soon disappeared with their $500,000 worthy of crypto invested into the project.

Since then, Amin claimed that he, on with different victims, has been gathering grounds truthful they tin record an enactment successful the UAE. The caller accusation from Zachxbt could further assistance their case.