MAYC ripoff creator pleads guilty, G2A opens NFT platform: Nifty Newsletter
In this weeks newsletter, checked out the creator of a Mutant Ape Yacht Club (MAYC) knock-off pleading guilty to scams charges, take a look at how OpenSeas non-fungible token (NFT) users received a massive phishing e-mail project, and how Bitcoin deal fees flipped Ethereum network fees as the hype for Ordinals resurfaced. In other news, video game supplier G2A has actually launched a gaming-focused NFT market. Creator of Mutant Ape ripoff NFTs pleads guilty to $3 million fraud schemeAurelien Michel, the developer of the Mutant Ape Planet NFT collection, which copies the popular MAYC collection by Yuga Labs, pleaded guilty to wire fraud in a New York federal court. Michel confessed to defrauding financiers of $3 million and carrying out a rug pull. The team behind the MAYC knock-off wrongly promised benefits and benefits to their financiers and purposefully stopped working to provide on their guarantees. They rather diverted the proceeds and utilized them for individual gain. Michel admitted to the carpet pull through social media and now faces an optimal sentence of five years in prison.Continue readingOpenSea NFT users report enormous email phishing campaignUsers of NFT marketplace OpenSea have apparently received e-mails consisting of destructive links from enemies pretending to be OpenSea. Community members required to social networks, reporting that they got phishing efforts. Meanwhile, OpenSea ensured its users through a post on X (formerly Twitter) that there was no hack. However, a designer responded that while there may not be a vulnerability through the businesss clever agreements, the developer got a phishing email, recommending that “dev contacts have actually been exfiltrated from OpenSea.” Continue readingBitcoin transaction fees flip Ethereums as Ordinals buzz returnsThe typical everyday deal charge for the Bitcoin network surpassed Ethereum as the market revealed a restored hunger for Bitcoin Ordinals, a tool for producing NFT-like possessions and BRC-20 tokens. On Nov. 20, Bitcoins typical everyday fee reached $10.34, while Ethereum stood at an average of $8.43. Considering that Oct. 24, the neighborhood has developed over six million Bitcoin Ordinals properties, which resulted in around $30 million in BTC costs being redistributed to the network. Continue readingGame distributor G2A opens gaming-focused NFT marketplaceDigital video game distributor G2A introduced an NFT marketplace focused on Web3 video games. In a news release, the company highlighted that it aims to broaden its offerings by diving into Web3. According to G2A Capital Group CEO Bartosz Skwarczek, the company has been following the advancement of Web3 gaming given that Cryptokitties. Skwarczek stated that gamers are familiar with blockchain gaming, and many are already included. Continue readingCHECK OUT COINTELEGRAPHS NFT STEEZ PODCASTThanks for reading this absorb of the weeks most significant advancements in the NFT space. Come once again next Wednesday for more reports and insights into this actively progressing area.
Creator of Mutant Ape ripoff NFTs pleads guilty to $3 million fraud schemeAurelien Michel, the creator of the Mutant Ape Planet NFT collection, which copies the popular MAYC collection by Yuga Labs, pleaded guilty to wire fraud in a New York federal court. Michel admitted to the rug pull through social media and now faces an optimal sentence of 5 years in prison.Continue readingOpenSea NFT users report huge email phishing campaignUsers of NFT marketplace OpenSea have apparently received e-mails including malicious links from enemies pretending to be OpenSea. Continue readingGame supplier G2A opens gaming-focused NFT marketplaceDigital game distributor G2A released an NFT market focused on Web3 video games.
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Other Questions People Ask
What were the charges against the MAYC ripoff creator who pleaded guilty?
Aurelien Michel, the creator of the Mutant Ape Planet NFT collection, pleaded guilty to wire fraud in a New York federal court. He admitted to defrauding investors of $3 million through a rug pull scheme, where he misled them with false promises of benefits. Instead of delivering on these promises, Michel diverted the funds for personal gain. He now faces a potential prison sentence of up to five years.
How did OpenSea users respond to the phishing emails reported in the Nifty Newsletter?
Users of the OpenSea NFT marketplace reported receiving phishing emails that contained malicious links from attackers impersonating OpenSea. Many community members took to social media to share their experiences and warn others about the phishing attempts. OpenSea reassured its users that there was no hack on their platform, but concerns arose regarding the potential exfiltration of developer contacts. This incident highlights the ongoing risks associated with NFT transactions and communications.
What impact did Bitcoin transaction fees have compared to Ethereum's as mentioned in the newsletter?
The Nifty Newsletter noted that Bitcoin transaction fees surpassed those of Ethereum as interest in Bitcoin Ordinals surged. On November 20, Bitcoin's average daily transaction fee reached $10.34, while Ethereum's was $8.43. This shift indicates a renewed appetite for Bitcoin-based assets and has led to significant activity within the network. The creation of over six million Bitcoin Ordinals has contributed to approximately $30 million in fees being redistributed to the Bitcoin network.
What is G2A's new initiative in the NFT space according to the newsletter?
G2A has launched a gaming-focused NFT marketplace aimed at Web3 games, as detailed in the Nifty Newsletter. The company expressed its intention to expand its offerings by embracing the Web3 gaming trend, which has been gaining traction since the popularity of Cryptokitties. G2A Capital Group CEO Bartosz Skwarczek emphasized that many gamers are already familiar with blockchain gaming and are actively participating in this evolving landscape. This move positions G2A as a player in the growing NFT market for video games.