In accordance with court docket documents, the Boneheads team has been accused of breach of contract, misappropriating funds and deceptive investors.
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The investigative work of honest blockchain sleuth ZachXBT has been cited in a class-action lawsuit in Canada towards Boneheads, an alleged $3.1 million nonfungible token (NFT) rug pull.
Tweeting on July 7, ZachXBT highlighted that lawsuit as he reiterated accusations that the Boneheads team “rapidly disappeared and spent the mint funds on BAYCs [Bored Ape Yacht Club NFTs], luxury goods, and other objects by no manner gratifying the roadmap.”
“But yet every other case where my be taught has been cited,” ZachXBT added.
A class action lawsuit used to be filed in Canada towards the Boneheads team for the $3.1M NFT rug pull
The team rapidly disappeared and spent the mint funds on BAYCs, luxury goods, and other objects by no manner gratifying the roadmap
But yet every other case where my be taught has been cited https://t.co/GoIGmPs50g pic.twitter.com/mboWXt3mfm
— ZachXBT (@zachxbt) July 7, 2023
The class-action lawsuit used to be first and major filed within the Ontario Superior Court docket of Justice in mid-June.
As per a June 19 insist of claim, the Boneheads team has been accused of breach of contract with investors by failing to ship on the project’s roadmap, misappropriating funds, conducting false misrepresentation and negligent misrepresentation, among other issues.
“As of the date of submitting of this claim, the Boneheads NFT team has no longer delivered on a single roadmap promise they’d made to Boneheads NFT purchasers,” the submitting reads, along with:
“Customers have no longer received a single NFT airdrop, token, bodily collectible, marketplace bag admission to, forging, avatar utility, vote casting precise, giveaway, or the dozens of other guarantees that had been made to patrons in consideration for shopping or minting a Boneheads NFT.”
the references to ZachXBT, the submitting highlights the sleuth’s investigation into the project published to Twitter on July 14, 2022, along with other posts from the following month.
In the preliminary thread, ZachXBT provided a rundown of how the project allegedly misappropriated funds that had been meant to be outdated skool to toughen the Boneheads roadmap.
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ZachXBT also outlined how rapidly the project grew to change into slothful after mint and unveiled who the key players within the serve of the project had been as he tracked their dodgy antics.
9/ Assorted TikTok movies exist of her flexing luxury journeys, vogue designer clothes procuring, and a Gwagon all after the project had raised $3.1m. pic.twitter.com/cTfJ0YXGt4
— ZachXBT (@zachxbt) July 14, 2022
“Despite months of inaction on social media, the Boneheads team right away responded to ZachXBT’s posts by device of Twitter, pointing out that Boneheads used to be no longer a rip-off but a ‘very deliberately slack ingenious assignment,” the submitting reads, along with:
“They ensuing from this truth launched that 21, a ‘contemporary’ series, shall be shedding on the anniversary of their project beginning, in August 2022. No such series used to be ever released.”
ZachXBT’s work has now been outdated skool on a handful of events to attend create conditions towards rotten actors within the NFT characteristic.
In February, the FBI seized 86.5 Ether (ETH) and $100,000 price of NFTs from a phishing scammer following a prolonged investigation by ZachXBT.
In October 2022, France’s national cyber unit also cited ZachXBT’s work in serving to it rep and worth a community of alleged phishing scammers suspected of stealing $2.5 million price of NFTs.
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