The lesson is still being learned by crypto heads.
Non-fungible tokens (NFTs), as you may not have heard, are still very popular. More people are being scammed every day in order to cash them in.
Evolved Apes' developer, who ironically describes himself as a collection 10,000 NFTs in a lawless land that is governed by the laws of nature, quit and ran off with 798ether, roughly $2.7 million out of funds.
Perhaps buyers should have been more cautious in retrospect.
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The description of the project states that only the strongest apes will win in the fight for survival.
Evil Ape, the developer who claims to not have made this up, originally promised to launch an Ethereum-based fighting game that gamers could play.
Vice reports that the developer appears to have gone cold feet a week after the launch and has started the next stage of their evil plan, leaving no trace.
Surprisingly, Evolved Apes community members did not receive a payment from a social media competition to generate hype for the game. Even the artist wasn't paid.
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The money is gone, and it's leaving a lot on the faces of many people. Investors are understandably upset.
We will be the Fight Back Apes and fight as a community against the Evil Ape. Mike_Cryptobull, a community member, wrote this in a report shared to investors and obtained from Vice. He was referring to an offshoot that would pick up the pieces.
This is because Evil Ape would directly profit from four percent royalty from every sale of Evolved Apes.
Another sad example of people being conned by the hype around a new NFT project. Keep your money if it seems too good to be true.
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READ MORE: Millions of Dollars spent by investors on NFTs for evolved apes They were then scammed. [Vice]
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