Ethereum

Another French star allegedly masterminds $1.6 million NFT rug pull

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Blockchain detective, Zachxbt has uncovered one other non-fungible token rug pull mastermind.

In a Twitter thread, he alleged {that a} French e-commerce guru, Soulaymane Mahzoul, is behind the $1.6 million rug pull tied to the Loopy Camels NFT mission.

The way it all started

Soulaymane began the Loopy Camels NFT mission in October 2021. The mission was a set of 10,000 NFTs with numerous giveaway guarantees.

It minted for 0.1 ETH presale and went for 0.3 ETH after mint. Like related rug pulls, it claimed to have the help of celebrities, together with Odell Beckham Jr and DJ Snake.

The presale went as deliberate, however demand was low for the general public sale as a result of excessive costs. This led to the staff lowering the availability to 2,000, much like what one other rug pulled mission, Bored Bunny, did.

The staff made $1.6 million by means of the sale, subsequently grew to become distant from the group, and ultimately disappeared.

Supply: Zachxbt

Evaluation of on-chain information reveals that Soulaymane acquired $909,000 of the entire funds whereas traders had no selection however to try to revive the mission even after the founders had deserted it.

Soulaymane is linked with a number of crypto initiatives

Whereas this may seem to be an remoted incident, Zachxbt confirms that it’s not. By fastidiously mapping the inflows into Soulaymane’s account with centralized exchanges, it emerged that he had been concerned in a number of different NFT initiatives.

Per Zachxbt, he has immediately acquired proceeds from Metabillionaire NFTs, The Meta Stars, Trend Ape NFT, and Miss Universe NFT.

Past that, he’s additionally not directly linked to a number of NFT gradual rug pull initiatives. Essentially the most notable examples embrace Apes in House, Horizon, Celebrity Tiger, Alien Secret Society, Occasion Ape Billionaire Membership, The Sloth Tribe, and so forth.

Curiously, Soulaymane seems to be utilizing the funds to accumulate reliable NFTs similar to Mutant Ape. He’s spending the remainder dwelling a lavish life-style in Dubai.

His Instagram account remains to be lively, nevertheless, he has deleted all tweets and media from his Twitter web page.

This isn’t the primary French influencer dwelling in Dubai linked to NFT rug pulls. Within the week of April 4, Crypto reported that Laurent Correia, a French actuality star, was ousted because the brains behind a $960,000 rug pull of Billionaire Canines Membership NFT by Zachxbt.

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