Laurent Correia, a well-known French influencer and reality television personality, is the latest in a long series of non-fungible token (NFT) rug-pullers.
According to a recent expose, Laurent Correia is the man behind the now-defunct NFT collection Billionaire Dogs Club (BDC).
On Monday, the on-chain crypto investigator “zachxbt,” well-known for his Twitter threads delving into key persons and projects in the industry, tweeted a new thread suggesting that French influencer Laurent Correia had a significant role in a sideways NFT project.
Zachxbt exposed the French influencer
Zachxbt disclosed how the French influencer was the brains behind the Billionaire Dogs NFT project’s rug pulling in a Twitter thread.
He also demonstrated how the much-publicized campaign with enormous incentives and expensive cars served as a significant lure for investors.
At a public mint price of 0.2 ETH, the Billionaire Dogs Club initiative was released in mid-December 2021.
The collection originally featured 6,500 NFTs valued at 0.1 ETH in presale and 0.2 ETH in sales. However, it was drastically decreased when investors did not respond favorably.
The group, however, dissolved about a week later, and both the website and the Discord channel were removed.
According to Zachxbt, NFT owners were distraught by the disappearance, as they had lost their original deposits.
Correia reportedly transmitted $400,000 of the project’s expected $960,000 earnings to his public crypto wallet.
The French influencer appears to have spent the stolen cash on NFTs, a MAYC, CloneX, and a Doodle, according to his OpenSea activity.
He then changed his profile photo to a Mutant Ape and shared the freshly acquired NFTs on his Instagram story.
As Correia illustrated on his social media pages, the same wallet was utilized to buy more expensive NFTs. After understanding the facts, Zachxbt tagged the Dubai Police, the local law enforcement where Correira resides, blasting him for shameless rug pulling a project like this.
Given the uncertified nature of NFTs, though, it’s conceivable he won’t face charges. The event stresses the need for regulations, especially for NFTs.
Correia was accused of luring them in with his glamorous social media life, saying that celebrities such as Kanye West and LeBron James were engaged. But he vanished soon after, taking with him their $500,000 in cryptocurrency.
Since then, several victims have been compiling evidence in order to pursue a lawsuit in the United Arab Emirates. Zachxbt’s fresh information might bolster their case even further.