Press Releases News Today TheBitTimes.com

The creator of the Mutant Ape Planet NFT collection pleaded guilty to wire fraud in a New York federal court. In this week’s newsletter, read about the creator of a Mutant Ape Yacht Club (MAYC) knock-off pleading guilty to fraud charges, check out how OpenSea’s non-fungible token (NFT) users received a massive phishing email campaign, and how Bitcoin transaction fees flipped Ethereum network fees as the hype for Ordinals resurfaced. In other news, game distributor G2A has launched a gaming-focused NFT marketplace.  Creator of Mutant Ape ripoff NFTs pleads guilty to $3 million fraud scheme Aurelien 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 defrauding investors of $3 million and performing a rug pull. The team behind the MAYC knock-off falsely promised rewards and benefits to their investors and intentionally failed to deliver on thei...

Despite the downturn in the NFT industry, Reddit continues to attract new holders of digital collectibles issues on blockchain. Social media platform Reddit continues exploring digital collectibles despite a significant downturn in the non-fungible tokens (NFT) industry. According to an official announcement on r/CollectibleAvatars, Reddit will drop its latest series of collectible avatars on July 26. According to social media reports, the new drop will be launched at 3:00 pm Eastern Time. Titled “Retro Reimagined,” Reddit’s new collectibles drop will be the fourth generation of collectible avatars launched since the platform debuted the project in July 2022. Just like all previous generations, the latest drop will be issued on the Polygon blockchain and will be available for decentralized trading and third-party sales. Reddit’s Gen 4 CollectibleAvatars’ teaser. Source: Reddit The new drop of Reddit’s collectible avatars brings fresh designs from new and existing creators, including r...