Official DOJ announcements and court records

Feds Use NFTs to Notify CluCoin Scam Victims, Seize $5M in Crypto Fraud

Aug 23, 2024, 08:38 AM

The founder of the CluCoin project, who is accused of misappropriating $1.14 million of investor funds, has pleaded guilty and now faces a 20-year prison sentence. In an innovative move, the Department of Justice is using NFTs to notify victims of the CluCoin scam, marking the first time such technology has been employed in crypto law enforcement. This approach aims to reach the affected investors efficiently, as the founder had previously built hype for the project on platforms like Twitch, and the notifications are being sent through the Metaverse.