The renowned French influencer Laurent Correira is allegedly behind the Billionaire Dogs Club $960k NFT rugpull. The reality TV star allegedly received over $400k into his digital wallet. Meanwhile, the project’s community is left stranded.
Billionaire Dogs Club: a rugpull by Laurent Correira
Back in December 2021, a new project called Billionaire Dogs Club emerged on the NFT scene. The 6,500 collectibles were sold for 0.2 ETH during the public sale. Surprisingly, the project involved luxury car giveaways and large cash prizes.
However, the promotion didn’t work as planned. As a result, the team reduced the NFT supply to 2,000 digital assets. Within a week, the project’s social media accounts disappeared by magic.
Now, the NFT community presumably revealed the culprit: Laurent Correira.
Exposing Laurent Correira’s strategy
Laurent Correira is a French reality TV star, influencer, and NFT collector. His social media feed reflects a luxurious lifestyle which many people followed.
Yesterday, though, Twitter user @zachxbt showed evidence that ties Laurent Correira to the $960k NFT rugpull.
To begin with, the smart contract of the Billionaire Dogs Club is linked to three wallet addresses. One of these public wallets received over $400k. Surprisingly, that wallet belongs to none other than Laurent Correira.
The visual representation below reveals the rug pull scheme:
Of course, @zachxbt went on to provide evidence that the digital wallet truly belongs to Correira. Accordingly, the wallet address purchased Mutant Ape Yacht Club, CloneX, and Doodle NFTs shortly after receiving the $400k. This information is public on the OpenSea marketplace.
Then, Laurent Correira changed his social media profile picture into the exact MAYC NFT purchased by the digital wallet. The impressive analysis by @zachxbt included screenshots proving the influencer’s actions:
Are NFT rugpulls on the rise?
Recently, we’ve seen plenty of popular NFT projects turning out to be rugpulls. For example, the Blockverse NFT-powered PVP game devs ran away with over 792 ETH. Unfortunately, the debut drop was a huge hit, selling out in less than 8 minutes.
Meanwhile, the Tokyo Ten rugpull affected more than 3.5k NFT holders. The project initially seemed like the next big thing, generating over 231 ETH on the secondary market alone.
These incidents, along with Laurent Correira’s alleged rugpull, are a strong reminder to DYOR. After all, it’s the best we can do to stay safe, since there are no laws when it comes to NFTs just yet.
Source: NFT Evening