New NFT Rugpull: Frosties NFT Scammed Their Investors For $1.3 Million


Frosties NFT Trader Loss $1.3 Million

A series (NFT) called Frosties scammed their investors by more than $1 million on January 9 after the creators of the virtual token hid and hid their finances. 

Frosties NFT Trader Loss $1.3 Million 

According to available information, the amount collected was 8,888 NFT and the ground fee was 0.04 ETH, which was more or less than $120. 

All NFTs were sold within an hour, but instead of receiving valuable assets, traders determined that the company founder had disabled all communication channels with network members. 

Etherscan checks can also track builders to move as much money as possible from one pocket associated with your OpenSea account to another. 

The Frosties NFT venture is believed to have huge plans for traders as it promises “staking, metaverse [and] fertility functions”. 

The company also promised owners rewards such as “gifts, airdrops, early access to metaverse games, and unique passes for the upcoming season.” 

The space's first investor, Marcellus King, said he had invested around $3,000 in the raid, and how he was initially skeptical of the project but satisfied to see "it has a thriving network with a lot of activity, roadmaps, valid search sites, OpenSea accounts, and artwork." 

Unfortunately, this has been turned into a ruse to get the general public's attention to invest in businesses.

The Buyers are Operating on The Way to Get Their Finances Back

The original builders of the project have long since parted from the buyer's money, but they don't seem to give up on the project anymore.

Created a service Discord chat where unique NFT holders can now discuss "disable frost". The agency is currently seeking a full contract that can help recover stolen funds to their rightful owners. 

One moderator for an organization with more than 1,400 members reported that "you can work hard behind the scenes to run something business."

Recent NFT Scams 

This is arguably the most famous NFT heist of the year, but we found several scams this year. 

One such scam disrupted Iconics, a fully NFT-based venture based on Solana, as we announced. However, an entirely new partnership may emerge between Nervos and Pastel to address issues such as “disappearing NFTs, loss, and manipulation of information”.
Jamie Lamten

Jamie Lamten is a writer and investor in crypto, provides his opinions and the latest news about non-fungible tokens.

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