Evolved Apes NFT: Developer 'Evil Ape' Vanishes with $2.7 Million After Rug Pull
Incident Details
Summary
In late September 2021, an NFT collection called 'Evolved Apes' launched with promises of a fighting game where holders could battle using their apes. The collection of 10,000 NFTs sold out quickly. One week after launch, the anonymous developer known as 'Evil Ape' disappeared, taking 798 ETH (approximately $2.7 million) from the project's wallet. The developer deleted their Twitter account and website. The promised game was never built. Approximately 3,000 buyers were left holding worthless NFTs with no development, support, or recourse. The case became emblematic of NFT rug pull fraud, where developers exploit collector enthusiasm and promise future utility before absconding with funds.
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