U.S. Justice Dept. Charges Frosties NFT Creators Over "Rug Pull" Scheme

The U.S. Justice Department has arrested the 20-year-old creators of the Frosties NFT project in LA after they suddenly shut down the Discord and disappeared with over $1.1 million USD worth of Ethereum.This is the first known action from the Department of Justice regarding "rug pulls," in which fraudsters generate excitement over a project, promising certain benefits according to a roadmap, but end up running away with the money soon after funds are invested. According to blockchain analysis fi...