SNEAK PEEK
- ZachXBT’s investigative findings cited in Canadian class action against Boneheads group for $3.1 million NFT rug pull.
- Boneheads accused of breaching contract, misusing funds, and abandoning project, leaving Simpletons NFT buyers empty-handed.
- ZachXBT’s research exposes embezzlement and swift exit of key figures in Boneheads project.
ZachXBT’s investigative prowess has once again made waves in the world of non-fungible tokens (NFTs), as his findings were recently cited in a Canadian class action complaint against the Boneheads group. The complaint, filed with the Ontario Superior Court of Justice in mid-June, alleges that the Blockheads group orchestrated a staggering $3.1 million rug pull involving NFTs.
A class action lawsuit was filed in Canada against the Boneheads team for the $3.1M NFT rug pull
The team quickly disappeared and spent the mint funds on BAYCs, luxury goods, and other items never fulfilling the roadmap
Yet another case where my research has been cited https://t.co/GoIGmPs50g pic.twitter.com/mboWXt3mfm
— ZachXBT (@zachxbt) July 7, 2023
The case centers around Boneheads’ purported breach of contract with investors, wherein they failed to adhere to project guidelines, misused funds, engaged in deceitful practices, and ultimately squandered the mint assets on extravagant purchases, including Bored Ape Yacht Club NFTs and other luxury items. This audacious move left Simpletons NFT buyers high and dry, as the Nitwits NFT group failed to fulfill any of their promised commitments.
ZachXBT’s research played a crucial role in unraveling the intricate web of deception. On Twitter, he meticulously detailed the alleged embezzlement of funds earmarked for the Boneheads project, shedding light on the key figures involved and their swift abandonment of the endeavor when the value of the mint cryptocurrency plummeted. The detective’s incisive analysis of related tweets, which were published on July 14, 2022, and subsequent posts further bolstered the class action complaint.
8/ The corporation ‘Profitly’ listed two names, Alexandra (LexiBone) & Ivan (IvyBone) as the board of directors.
Most damning of all was Alexandra posted about Boneheads on her TikTok before the project had been formally announced on June 18th 2021. pic.twitter.com/dahS7wXhCo
— ZachXBT (@zachxbt) July 14, 2022
This is not the first time ZachXBT’s investigative acumen has led to concrete action against unscrupulous NFT actors. In February, his protracted investigation aided the FBI in seizing 86.5 Ether and $100,000 worth of NFTs from a phishing scammer.
Likewise, ZachXBT’s invaluable assistance earned recognition from France’s public digital unit in October 2022, when his efforts contributed to the successful apprehension and prosecution of a group of suspected phishers who had pilfered $2.5 million in NFTs.
ZachXBT’s relentless pursuit of justice in the world of NFTs has significantly impacted the industry. His work has not only shed light on fraudulent activities but has also helped compile compelling evidence against nefarious actors.
As regulators and law enforcement agencies continue to grapple with the challenges posed by the booming NFT market, ZachXBT’s expertise stands as a formidable asset in the fight against financial malfeasance.
Consequently, the class action complaint fueled by ZachXBT’s research marks yet another milestone in the quest for accountability within the NFT space. With his track record of unearthing illicit schemes, it is clear that ZachXBT’s vigilance is making a tangible difference, restoring faith and protecting investors in the ever-evolving world of digital assets.
