📣 Evolved Apes Creators Face U.S. Prosecution
posted 7 Jun 2024
U.S. authorities have brought charges against three British nationals, the creators of the NFT project Evolved Apes, for conspiracy to commit fraud and money laundering. Investigators claim that Mohamed-Amin Atcha, Mohamed Rilaz Waleedh, and Daood Hassan promised to develop a video game but disappeared just two weeks after the fundraising.
The accused allegedly stole about 800 ETH ($3 million), which was raised during the early days of Evolved Ape's launch in 2021. The U.S. prosecutor highlighted that the social media accounts, website, project roadmap, and even the developmental phases of the fighting game were all elaborately designed to avoid raising suspicions among investors.
During an attempt to transfer assets from the exchange to a personal wallet, one of the developers encountered formal and regulatory platform restrictions. He reached out to customer support and falsely claimed that his grandmother needed urgent cancer surgery to bypass the asset source verification, and this deceit was successful.
Digital art may be new, but old rules still apply: making false promises for money is illegal,stated U.S. Attorney Damian Williams.
FBI Assistant Director in Charge James Smith, involved in the investigation, remarked that such activities erode trust not only in digital assets but also in other electronic products that could exploit similar tactics. The prosecutors expressed their gratitude to the Bureau's representative for aiding in the investigation.
The suspects could face up to 20 years in prison for each count (two counts in total) if convicted in New York, but the final judgment will be determined by a court. Prosecutors have also requested that the remaining assets ($875,850 in USDT) be frozen and, if possible, confiscated.
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