DOJ Charges Two People in Million-Dollar Scheme to Defraud Investors in NFT Rug Pull

DOJ Charges Two People in Million-Dollar NFT Rug Pull Scheme

The United States Department of Justice (DOJ) has charged two individuals in connection with a million-dollar non-fungible token (NFT) “rug pull” fraud. According to the judicial department, they abandoned the NFT project within hours of selling out, closed the website, and moved over $1 million in cryptocurrency to wallets they controlled.

Rug Pull Scam Defrauds NFT Purchasers

The United States Justice Department said on Thursday that two 20-year-olds have been charged in a “non-fungible token (NFT) fraud and money-laundering scam.” Ethan Nguyen and Andre Llacuna, the defendants, are accused of defrauding customers of NFTs marketed as “Frosties.”

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