US v. Le Ahn Tuan: second criminal indictment for rug pull involving Baller Ape Club NFTs

Last week, the U.S. Department of Justice announced several criminal indictments for crypto-related crimes, including the second rug pull case. From DOJ’s announcement: “United States v. Le Ahn Tuan: Le Anh Tuan, 26, a Vietnamese national, was charged with one count of conspiracy to commit wire fraud and one count of conspiracy to commit international money…

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How is insider trading of NFTs a felony if it doesn’t involve a 10b-5 securities violation? The wire fraud theory in U.S. v. Nate Chastain, former OpenSea employee.

Yesterday, the U.S. Attorney for the Southern District of NY Damian Williams announced an indictment against Nathaniel Chastain who allegedly traded at least 45 NFTs while working at OpenSea based on confidential business information that OpenSea would feature the NFTs on its website (thereby attracting greater demand). Chastain allegedly profited by selling the NFTs at…

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Federal grand jury indicts former OpenSea employee Nate Chastain for alleged insider trading of confidential business information of NFTs to be featured by OpenSea [download indictment]

In a stunning announcement, the US Attorney for the Southern District of NY Damian Williams announced that a federal grand jury has indicted former OpenSea employee Nate Chastain for two counts of felonies: (1) wire fraud and (2) money laundering. The first count of wire fraud is predicated on Chastain’s alleged insider trading of NFTs…

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Can Seth Green still use his Bored Ape character in his upcoming series White Horse Tavern even after someone stole his Bored Ape NFT? Probably.

As I grade law school exams, I came across a complicated scenario IRL that would make for an excellent law school exam. The actor Seth Green revealed a trailer for his upcoming series White Horse Tavern, which uses one of the Bored Ape characters (#8398) from the NFTs he owns. According to Buzzfeed (see below),…

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After buying Twitter, Elon Musk changes profile pic to Bored Apes — did Musk buy Twitter for NFT Twitter?

Elon Musk just changed his profile pic to Bored Apes–a whole montage of them. This comes after he bought Twitter. Did Musk see the potential in not only Bored Apes, but the community known as NFT Twitter (of which we are a part!). Musk hasn’t shown much interest in NFTs, other than a Feb. 26…

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Aku Dreams NFT launch for Akutars has coding snafu in its Dutch auction, reportedly locking $34M in funds

Micah Johnson, the creator behind the young black astronaut Aku NFTs, had an unfortunate setback yesterday that no NFT creator ever wants to face. During the launch of the Akutars on Friday, someone discovered a “gas griefing vulnerability” in the smart contract. This vulnerability allowed a third party to lock up the ETH funds that…

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MoonBirds owners get “full commercial art rights for the Moonbird they own,” apparently similar to Bored Ape License

Last fall, we reported the then-unusual approach of the Bored Ape Yacht Club IP license. It gave all owners unlimited commercialization rights to their Bored Apes, including the ability to make derivative works. We explained how the Bored Ape IP License was a decentralized collaboration license or De-Collab license because it enabled owners to engage…

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Coinbase NFT opens to limited users, to mixed reviews due to spammy, nasty comments

Coinbase NFT opened in beta to a select number of users. However, the launch was immediately saddled with poor reviews among users who apparently received negative or even nasty comments about their listings. Coinbase VP Sanchan Saxena told CoinTelegraph that Coinbase won’t be moderating comments: “In regard to moderating comments, Saxena said the platform would operate…

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MoonBirds sets record for NFTs, going from 2.5ETH to 20ETH floor on 2d day of sales

Just when you thought all’s quiet on the NFT front, a new collection called MoonBirds decided to prove you wrong. In a 2 day period, MoonBirds set records. It had 66.1K volume in trades, reportedly more than Bitcoin, Ethereum, and Solana combined during the same period. MoonBirds went from 2.5ETH to over an unbelievable 20ETH,…

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Caked Apes NFTs turn sour. Nasty lawsuits embroil creators of Caked Apes who sue each other over ownership. Taylor Whitley (taylorwtf) sues Jake Nygard (Cake Nygard), Clare Maguire, Antonius Wiriadjaja, Donglee Han, who countersue TaylorWTF.

You hate to see it. The people behind the fun Caked Apes NFTs have sued each other! You heard that right. They are embroiled in lawsuits over the creation and authorship/ownership of Caked Apes, which are funny derivatives of the popular Bored Ape Yacht Club, plus a few other NFT collections. Taylor Whitley (taylorwtf) sued…

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