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National

Erik Larson

‘Mutant Ape Planet’ NFT seller arrested for alleged fraud

NFT Cryptocurrency Breon Peace New York

U.S. prosecutors charged a French national with defrauding buyers of his “Mutant Ape Planet” non-fungible tokens, alleging he duped investors out of more than $2.9 million in cryptocurrency before his arrest Wednesday at a New York airport.

Aurelien Michel, 24, who lives in the United Arab Emirates, falsely promised buyers of the NFTs exclusive rewards and benefits that he claimed were designed to increase demand for the unique images and boost their value, U.S. Attorney Breon Peace in Brooklyn, New York, said in a statement on Thursday.

“After sending their cryptocurrency and obtaining the NFT, purchasers received nothing while their cryptocurrency was diverted from the Mutant Ape Planet NFT project to cryptocurrency wallets controlled” by Michel, Peace said.

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