Evolved Apes creator reportedly ran away with the crate
The Evolved Apes is a particularly recent project: it only launched a little over a week ago. But he enjoyed an undeniable interest from investors: his 10,000 NFTs had been snapped up in 10 minutes during the initial sale. And resale prices had also risen in recent days …
However, this is already ancient history. Prices for Evolved Apes’ NFTs have plummeted, after these accusations emerged. In question, the creator of the project, the aptly named “Evil Ape”. The latter disappeared, along with the project’s website and its Twitter account.
On Etherscan, we see that a total of 798 ethers (ETH) have been siphoned from the funds allocated to the project. This corresponds to almost $ 3 million. These funds were supposedly intended to support the project, in particular through a marketing budget.
A community investigation that reveals the case
As our colleagues from Vice noted, the community had already shown its suspicions regarding the Evolved Apes. By the time of the launch in late September, several figures believed to carry the project appeared to have disappeared. Moreover, the artist who created the images would never have been paid for his work.
Investor Mike_Cryptobull conducted the investigation, and released a full report on the matter. He explains what happened:
“Evil Ape washed his hands of it, took the wallet that contained all the ETH from the mint process, which was supposed to be used for all expenses. “
The good news for investors is that Mike_Cryptobull plans to continue supporting the project, under the name Fight Back Apes. The images being existing, they can continue to be exchanged as NFT. From there to knowing if they will manage to regain value, that’s another story …
Image source: Shadow Chasers via Twitter
Receive a recap of crypto news every Sunday
About the author: Marine Debelloir
Associate Editor on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.