SNEAK PEEK
- ZachXBT, an on-chain sleuth, has identified ‘scaredofboobs’ as the person behind the NFT Machine scandal.
- ‘scaredofboobs,’ also known for developing Gamegear, is allegedly Tyler Gaye, accused of defrauding investors in an NFT scheme.
- Reports claim that Gaye raised $55,000 for an NFT marketplace, OpenFT, but instead used the funds for personal gains.
In a recent development that has stirred the cryptocurrency community, on-chain sleuth ZachXBT has identified X user ‘scaredofboobs,’ known for their involvement in Solana intelligent contract development, as the person behind the notorious NFT Machine scandal. This revelation, made through a Telegram post on December 28, has raised serious concerns among crypto enthusiasts and investors.
‘scaredofboobs,’ also the developer of Gamegear, a web-based platform offering retro games, is allegedly Tyler Gaye. According to ZachXBT’s investigative findings, Gaye, a self-proclaimed open-source code publisher, is accused of defrauding investors through his NFT Machine venture. Reports suggest that Gaye raised $55,000 from investors under the guise of developing an NFT marketplace, OpenFT. However, instead of fulfilling his promise, he allegedly diverted these funds to acquire personal NFTs, including several from the MoonCats collection.
The severity of these allegations is compounded by the fact that Gaye reportedly failed to attend court proceedings, leading to a default judgment against him. He was ordered to pay back the invested amount and additional punitive damages, totaling $275,000. Despite this, ZachXBT claims that Gaye needs to pay more attention to repay investors and has continued to launch new crypto projects. ArcadeDAO, a retro gaming project, is cited as a recent example of his ongoing activities in the crypto space.
This controversy again highlighted the risks associated with the burgeoning world of cryptocurrency and NFTs. It also underscores the critical role of on-chain sleuths like ZachXBT in uncovering fraudulent activities and protecting the interests of investors. As the community reels from this latest scam, it is a stark reminder of the need for vigilance and due diligence in the ever-evolving and unpredictable world of digital assets.
