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Buyers of Bored Ape NFTs sue after digital apes turn out to be bad investment (arstechnica.com)

submitted 1 year ago by merridew@feddit.uk to c/technology@lemmy.world

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[–] chicken@lemmy.dbzer0.com 52 points 1 year ago (1 children)

The amended lawsuit alleges that "Yuga colluded with fine arts broker, Defendant Sotheby's, to run a deceptive auction." After the sale, a Sotheby's representative described the winning bidder during a Twitter Spaces event as a "traditional" collector, the lawsuit said.

The lawsuit said it turned out the auction buyer was now-bankrupt crypto exchange FTX, whose founder Sam Bankman-Fried is in jail awaiting trial on criminal charges.

I don't think it's fair to pin this all on people who got duped. Calling FTX, a company now known for throwing around large sums of stolen money to pump up the brand, bribe government officials, and fix prices, a "traditional collector", is beyond misleading.

[–] AfricanExpansionist@lemmy.ml 15 points 1 year ago

Yeah fuck these stupid NFT scams but fuck FTX more. They knew what they were doing. They also are alleged to have been behind the giant Bitcoin price pump of 2021