The Department of Justice has announced charges against a Solana-based NFT developer for his alleged involvement in a Rug Pull Scam.

Published on:

A Solana (SOL) non-fungible token (NFT) developer has been charged by the US Department of Justice for fraudulently obtaining millions of dollars from investors.

The DoJ has charged Vietnamese national Le Anh Tuan with one count of conspiracy to commit wire fraud and one count of conspiracy to commit international wire fraud in connection with the Baller Ape Club, an NFT investing community, according to a recent press release.

Tuan and his accomplices are accused of stealing around $2.6 million worth of funds from traders before attempting to hide the money by switching it to different crypto assets on several blockchains, as well as utilizing decentralized exchange swap services to cover their tracks.

According to the DOJ, this is the most significant NFT fraud ever charged. Tuan faces a maximum penalty of 40 years in prison if convicted.