The investigative work of impartial blockchain sleuth ZachXBT has been cited in a category motion lawsuit in Canada in opposition to Boneheads, an alleged $3.1 million nonfungible token rug pull.
Tweeting on July 7, ZachXBT highlighted that lawsuit as he reiterated accusations that the Boneheads crew “rapidly disappeared and spent the mint funds on BAYCs [Bored Ape Yacht Club NFTs], luxurious items, and different gadgets by no means fulfilling the roadmap.”
“Yet one more case the place my analysis has been cited,” ZachXBT added.
A category motion lawsuit was filed in Canada in opposition to the Boneheads crew for the $3.1M NFT rug pull
The crew rapidly disappeared and spent the mint funds on BAYCs, luxurious items, and different gadgets by no means fulfilling the roadmap
Yet one more case the place my analysis has been cited https://t.co/GoIGmPs50g pic.twitter.com/mboWXt3mfm
— ZachXBT (@zachxbt) July 7, 2023
The category motion lawsuit was initially filed within the Ontario Superior Court docket of Justice in mid-June.
As per a June 19 assertion of declare, the Boneheads crew has been accused of breach of contract with buyers by failing to ship on the undertaking’s roadmap, misappropriating funds, conducting fraudulent misrepresentation and negligent misrepresentation, amongst different issues.
“As of the date of submitting of this declare, the Boneheads NFT crew has not delivered on a single roadmap promise that they had made to Boneheads NFT purchasers,” the submitting reads, including:
“Shoppers haven’t acquired a single NFT airdrop, token, bodily collectible, market entry, forging, avatar software, voting proper, giveaway, or the handfuls of different guarantees that have been made to shoppers in consideration for buying or minting a Boneheads NFT.”
Wanting on the references to ZachXBT, the submitting highlights the sleuth’s investigation into the undertaking that was printed to Twitter on July 14, 2022, together with extra posts from the next month.
Within the preliminary thread, ZachXBT supplied a rundown of how the undertaking allegedly misappropriated funds that have been meant for use to help the Boneheads roadmap.
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ZachXBT additionally outlined how rapidly the undertaking grew to become inactive after mint and unveiled who the important thing gamers behind the undertaking have been, as he tracked their dodgy antics.
9/ Different TikTok movies exist of her flexing luxurious journeys, designer garments procuring, and a Gwagon all after the undertaking had raised $3.1m. pic.twitter.com/cTfJ0YXGt4
— ZachXBT (@zachxbt) July 14, 2022
“Regardless of months of inactivity on social media, the Boneheads crew instantly responded to ZachXBT’s posts through Twitter, stating that Boneheads was not a rip-off however a ‘very intentionally gradual artistic course of,” the submitting reads, including:
“They subsequently introduced that 21, a ‘new’ assortment, can be dropping on the anniversary of their undertaking launch, in August 2022. No such assortment was ever launched.”
ZachXBT’s work has now been used on a handful of events to assist construct circumstances in opposition to dangerous actors within the NFT house.
In February, the FBI seized 86.5 Ether (ETH) and $100,000 price of NFTs from a phishing scammer following a prolonged investigation by ZachXBT.
In October 2022, France’s nationwide cyber unit additionally cited ZachXBT’s work in serving to it catch and cost a bunch of alleged phishing scammers suspected of stealing $2.5 million price of NFTs.
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