Suspects Arrested For Fraud In Evolved Apes NFT Scam

In 2021,The NFT community “Evolved Apes” supporters and investors learned the project was a scheme, and criminal network.

Allegedly masterminded by a developer and Twitter handle known as “Evil Ape,” the operation defrauded investors of a staggering 798 ETH, or $2.7 million. The team behind the project promised unique digital art and future gaming elements, spurring significant investment.

However, just one week after releasing the first NFTs, “Evil Ape” vanished, taking the funds and the project’s assets with them. Recently, US authorities have charged three UK nationals in connection with the Evolved Apes NFT fraud scheme. They are accused of conspiracy to commit wire fraud and other charges related to orchestrating a scam involving the Evolved Apes NFT collection.

The charges were announced by the US Department of Justice and involve significant legal action from the DOJ and FBI.

The suspects in the Evolved Apes NFT fraud scheme are Mohamed-Amin Atcha, Mohamed Rilaz Waleedh, and Daood Hassan all age 23. The fraud, known as a ‘rug pull,’ took place in 2021 and involved defrauding investors by promising a video game but instead pocketing close to $3 million. They face charges of fraud and money laundering.

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