The creator of the NFT Evolved Apes collection stole over $2.7 million from investors

Investors poured millions of dollars into an NFT collection called Evolved Apes, after which the project developer embezzled their money and fled.

Alas, almost all areas related to digital currencies are filled with people who want to take away honestly earned money by people. NFT is no exception every week new scams of various sizes appear in this industry. Sometimes we are talking about a couple of thousand dollars and what happened does not receive the proper public outcry, but in the case of Evolved Apes, more than $2.7 million dollars in cryptocurrency equivalent were stolen.

10,000 NFTs from the Evolved Apes collection debuted at OpenSea as funny cartoon monkeys. In addition to the cards, the developer, known to the community under the pseudonym Evil Ape, has promised to release a blockchain fighting game about the opposition of these creatures, “abandoned in lawless land”.

However, not even a few weeks have passed since the announcement of large-scale plans for the game, as the founder of the project decided to escape, pocketing the money of the investors. At the same time, all 10,000 unique tokens were successfully sold on OpenSea in just 10 minutes, and their minimum value was rapidly increasing as the sale progressed. Already today, the minimum price for NFTs from this collection is only 0.006 ETH or $21.43, which is several times lower than even their initial cost when minting. The reason for this, of course, was the incident with the theft of 798 ETH, which the attacker transferred to his wallet in several transactions.

Before finally disappearing, Evil Ape hastily deleted his Twitter account and the official Evolved Apes website is no longer available. According to one of those who acquired NFT, the first wake-up call came from strange “unprofessional” announcements following the public sale on OpenSea on September 24th. But then the investor decided that the reason for this was the lack of experience of the creator of the project.

Another contributor under the nickname Mike_Cryptobull, who bought 20 NFTs from the collection for 3 ETH (about $10,716 at Huobi), said that the winners of contests organized by Evolved Apes on social networks did not receive the promised prizes in the form of unique tokens, and the artist who created the images also complained about the lack of payment for them. Investors appointed Mike_Cryptobull as the head of this “mission” to understand what was going on.

The result of his work was a PDF file in which he presented all the facts collected about the project, informing the rest of the sad news that Evil Ape, who is the head of the Evolved Apes, is most likely a scammer and controls the wallet with all the money collected as part of the project.

But investors decided not to despair and continue to develop the idea of ​​Evolved Apes, calling it Fight Back Apes. Thus, the people who were promised to create a fighting game nevertheless became participants in the fight, but not with virtual monkeys, but with a very real scammer under the nickname Evil Ape.

All NFT Evolved Apes holders will automatically receive NFT Fight Back Apes tokens linked directly to cards from the old project. In the meantime, the number of tokens sold from the Evolved Apes collection reached 574 for a total of 13.9 ETH, equivalent to $49,650 at Huobi, and Evil Ape still receives 4% of the value of each NFT sold. Therefore, the community wants to move the project on a “new track” as soon as possible so that the fraudster no longer profits from those who supported his idea.

Although the OpenSea team's reaction to turning the collection into Fight Back Apes is still unknown.

Make history, trade and earn on OpenSea

CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.

Bitsler Casino