Blockchain sleuth ‘zachxbt’ highlighted a $960K rug pull scam by the ‘Billionaire Dogs Club’ NFT collection. In this scam, popular French influencer and anchor in a reality TV show Laurent Correia’s connection has also been disclosed by the digital detective.
As per the details shared in tweets, The Billionaire Dogs Club NFT collection was launched back in December 2021. At that time, the collection contained 6500 NFTs with the 0.1 ETH presale price and 0.2 public prices.
To entice NFT lovers, the collection had also announced giveaways including large cash amounts and two luxurious cars, which were being promoted on social media platforms too.
After the minting began on 12/12/21 or December 12, 2021, it failed to gain the attention of the NFT community. Afterward, the collection was reduced to 2000 NFTs. reportedly, by selling NFTs from the collection, scammers have gained over $1 million in funds.
The sleuth claimed that the week after the cut down in the NFTs, the project went shut down as its website and discord server both were deleted.
The blockchain investigator affirmed the project operator scattered the fund in the different transactions. During these settlements, more than $400,000 fund was also transferred to Laurent’s public wallet.
The Twitter thread revealed that the fund was transferred to the same address involved in Laurent’s NFT purchase-including MAYC 18272, CloneX, & Doodle. This purchase he also showed on his Instagram to his story and profile picture.
In a tweet, a blockchain investigator condemned Laurent that “His Instagram consists of him constantly flexing with zero remorse”.
The scam clearly shows that the French Influencer is not aware of the blockchain mechanism and how it works. Right Now, Laurent is spending time in Dubai, and to arrest him, the sleuth also tagged Dubai police headquarters.
With the growing number of NFT projects in the emerging space, rug pull scams have become more severe. Last year, Evolved Ape collection’s developer absconded with more than $2.7 million worth of ETH.
