The Billionaire Dogs Club NFT collection that French influencer Laurent Correia actively promoted scammed users, Zachxbt on-chain sleuth revealed in a Twitter thread. As a result, 100% of its users’ funds were stolen.
The Billionaire Dogs Club NFT collection was launched in December with 6,500 NFT pieces for 0.1 ETH per piece on the private presale and 0.2 ETH for the public sale. In addition, money and luxury goods giveaways were used to promote the collection.
Crypto columnist Arman Shirinyan said that the marketing strategy was questionable, but the project still attracted thousands of users.
The total token supply was decreased from 6,500 to 2,000 NFTs. Despite this, developers could still sell almost $1 million worth of tokens.
Minting began on December 12, but after a week of selling, the team vanished along with its Discord server and website.
Correia has three million followers on Instagram.
Correia received $400,000 in his public wallet. Correia then publicly purchased a costly NFT, MAYC 18272, CloneX, and Doodle, and used them as his profile picture on Instagram, further proving the wallet’s owner.
At the end of his thread, Zach tagged the official account of the Dubai Police Department since Correia resides in Dubai.
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