Developer of Mutant Ape Planet NFTs Pleads Guilty to $3M Fraud in Rug Pull Scandal
Aurelien Michel, the developer of the Mutant Ape Planet NFT collection, has pleaded guilty to defrauding buyers in a rug pull that resulted in nearly $3 million in profit. Michel, a French citizen residing in the United Arab Emirates, was arrested in New York and faces up to five years in prison. He has also agreed to pay $1.4 million in forfeiture. Michel admitted to the rug pull in the community's Discord channel under the pseudonym "James," stating that the community had become too toxic.
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