Aurelien Michel, the designer of "
#MutantApePlanet " NFTs, pleaded guilty to wire fraud at a federal courthouse in Brooklyn, New York. He admitted to running a fraudulent scheme that promised investors giveaways, tokens, and other benefits, only to withdraw nearly $3 million from cryptocurrency wallets after selling out the
#NFTs . Acting Special Agent-in-Charge Thomas Fattorusso condemned Michel's actions, stating that he defrauded investors by turning their dreams into a nightmare of deception and losses. Michel, a French citizen residing in the UAE, was arrested at JFK Airport in January 2023. The fraudulent NFTs were knockoffs of the
#MutantApeYachtClub NFTs and sold for approximately $500 each on the Ethereum blockchain. Michel acknowledged the scheme in a Discord chat, mentioning community toxicity and taking responsibility for their actions. United States Attorney Breon Peace emphasized the importance of holding such criminals accountable and protecting the public in the rapidly evolving digital asset market. Michel agreed to forfeit $1.4 million and could face up to five years in prison, with the sentencing date yet to be determined.