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The infamous blockchain detective of all things devious zachbxt is back with another NFT rug pull uncovering, with this time being the turn of the celebrity endorsed Bored Bunny collection. The new instalment, however, comes with a twist, as the community do-gooder’s efforts appeared to have caused the rug pullers to make a U-turn on their malice plans.
The Bad Bunny NFT collection was announced in December 2021, where it claimed to be a PFP project with 4,999 NFTs, each at a mint price of 0.4 ETH. With a lot of accompanying promises such as breeding multiple NFTs, merch, IRL and metaverse events, and more, as well as endorsement from the likes of Floyd Mayweather, Jake Paul, David Dobrik, DJ Khaled, French Montana, and Chantel Jeffries, the project, on the surface, appeared to possess a lot of promise, which lead to its successful, sell out mint the next month.
The project’s first red flag came when questions arose over the authenticity of such sale, as another pseudo-anonymous investigator who goes by bax1337 revealed that before the day of reveal, a dev wallet had bought the specialised NFTs which each depicted the project’s celebrity endorsers, inferring that the team had either acquired or rigged the project’s metadata before reveal.
In the following days, two collections going by ‘Bored Bad Bunny’ and ‘Bored Mutant Bunny’ were launched, however, neither sold out due to confusion over what the direction of the project actually was. Post the third mint, the direction of the generated funds is what shed more light into the maliciousness of the project, as all such funds appeared to have been funnelled into centralised exchanges.
In addition, further red flags emerged due to the team becoming distant and unresponsive to the community when voicing concerns over the drastically plummeting floor prices of each collection.
In wake of such events, the Bored Bunny team initially stated its desire to hand over the project to a Discord mod, but it failed to acknowledge where the $21 million raised will go. Off this conclusion, it was almost certain that a rug pull was occurring.
However, in a turn of events, and perhaps after zachbxt publicly doxxed the three alleged wrongdoers behind the project, the team has now decided to stay, and subsequently, has engaged in activities which align with its roadmap, such as buying LAND in The Sandbox, as well as release some merchandise.
Given that the three names provided by zachbxt each have ties with Ancient Cats Club and Crazy Camels, which are two other rugged projects, the team’s U-turn in the aftermath of their doxxing is either a massive coincidence, or a desperate attempt to salvage their public reputation.
Either way, it is great work on zachbxt’s and any other community investigator’s part, and now, all we can do is hope that the project continues to abide by its roadmap.
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*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.
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