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.

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 and his team failed to deliver promised benefits and instead diverted funds for personal gain. This fraudulent activity has led to a potential prison sentence of up to five years for Michel.

How did OpenSea users respond to the phishing emails reported in the newsletter?

OpenSea users reported receiving phishing emails containing malicious links from attackers impersonating the platform. Many community members took to social media to alert others about these phishing attempts, raising concerns over security. OpenSea reassured its users that there was no hack, but a developer suggested that contact information may have been compromised, indicating a need for heightened vigilance among users.

What is G2A's new NFT marketplace focused on?

G2A has launched an NFT marketplace specifically aimed at Web3 games, marking its entry into the blockchain gaming space. The company has been monitoring developments in Web3 gaming since the rise of Cryptokitties and aims to expand its offerings in this area. According to G2A Capital Group CEO Bartosz Skwarczek, many gamers are already familiar with blockchain technology, making this a timely venture into NFTs.