ZachXBT’s investigation unveils a massive NFT fraud, leading to a Canadian class action against the Boneheads Group

ZachXBT’s investigation unveils a massive NFT fraud, leading to a Canadian class action against the Boneheads Group

Investigative dynamo ZachXBT has made a name for himself as a relentless pursuer of truth. His latest feat, unearthing the machinations behind a suspected $3.1 million NFT rug pull, has once again proven his mettle.

Unraveling deception

The evidence unearthed by ZachXBT has been leveraged in a Canadian class action lawsuit against the Boneheads group, a case that echoes allegations of contract breaches, fund misuse, and project abandonment.

The Boneheads group, currently under scrutiny, stands accused of a grandiose betrayal. Investors argue that they broke contract terms, misdirected funds, and participated in deceitful practices. 

The group allegedly frittered away mint assets on luxurious purchases like Bored Ape Yacht Club NFTs, leaving those who had bought into the Simpletons NFTs utterly bereft. The Nitwits NFT group, believed to be the puppet masters behind the project, have seemingly vanished, leaving a trail of broken promises in their wake.

It was ZachXBT‘s painstakingly detailed research that highlighted this tale of greed and deception. Through a series of informative Twitter posts, he meticulously outlined the alleged misappropriation of funds that were intended for the Boneheads project. Not only did he shine a spotlight on the key figures involved, but he also chronicled their swift departure when the value of the mint cryptocurrency tanked.

Proven track record

ZachXBT is no stranger to such high-stake investigations. His contribution to the unmasking of unscrupulous actors in the NFT space is significant. Earlier this year, his diligent research aided the FBI in recouping 86.5 Ether and $100,000 worth of NFTs from a phishing scam.

Furthermore, his efforts were recognized by France’s public digital unit in October 2022, following his instrumental role in the successful apprehension and prosecution of a phishing group that had absconded $2.5 million in NFTs.

Fraud exposure leads to a renewed era of accountability in the NFT space

With the class action complaint powered by ZachXBT’s research marking another significant step towards greater accountability in the NFT world, it’s clear that his vigilance is making a tangible difference. His dogged determination in exposing illicit schemes is not just restoring faith but also safeguarding investors in this ever-evolving digital landscape. 

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