Crypto sleuth ZachXBT indicts 5 BAYC-linked NFT scammers who stole over $2.5M

Cryptocurrency detective ZachXBT has indicted five people in Paris for allegedly participating in a phishing scam related to the NFT project Bored Ape Yacht Club (BAYC), CoinDesk reported. The investigation began in late 2021, with police suspecting that the five formed a network that fraudulently advertised a service that would create animated versions of BAYC’s NFT holders, only to see users discover that the service had stolen their NFTs. The men operated in BAYC's official Discord channel, which provided a layer of authenticity to their supposed services, and the scammers stole more than $2.5 million in total. The crime was first revealed by ZachXBT in an August post titled "Paris scammers," when online tracking of cryptocurrencies targeted scammers Mathys and Camille, who Paris police now believe were at the heart of the scam , Among the 5 people, 2 people are suspected of doing website and marketing, and the other 3 people are alleged to have done advertising and money laundering activities.