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


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.

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



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