• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

CluCoin Founder Admits to Defrauding Investors of $1.14 Million

user avatar

by Giorgi Kostiuk

a year ago

  1. Creation of CluCoin and Attracting Investors
  2. NFTCon and Further Projects
  3. Fraud and Legal Proceedings


    4. Austin Michael Taylor, the man behind CluCoin and the CLU token, admitted to pocketing $1.14 million from investors. The money was spent on online gambling.

    Creation of CluCoin and Attracting Investors

    Taylor launched CluCoin with a significant social media following and hyped up the CLU token. During the ICO on May 19, 2021, he drew substantial investment by claiming the project had a charitable focus.

    NFTCon and Further Projects

    After the ICO, Taylor promoted new ventures like NFTs, a video game, and a metaverse platform. In April 2022, he hosted 'NFTCon: Into the Metaverse' in Miami, continuing to gather investment for CLU and related projects.

    Fraud and Legal Proceedings

    By May 2022, Taylor had figured out a way to transfer investor funds to his personal account and spent $1.14 million on online gambling. His sentencing hearing is set for October 31, with a potential prison sentence of up to 20 years.

    Austin Michael Taylor has admitted to defrauding CluCoin investors. He faces up to 20 years in prison, with the final sentence to be determined on October 31.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

HBAR Price Declines Following Hedera and McLaren Partnership

chest

HBAR price declines to 0.01080 following Hedera's partnership with McLaren, indicating potential further decline.

user avatarGustavo Mendoza

Makina Successfully Recovers 920 ETH Following January 2026 Exploit

chest

Makina successfully recovered approximately 920 ETH from a January 2026 exploit through a whitehat process.

user avatarLucas Weissmann

Kansas Takes Bold Step with Senate Bill 352 for Crypto Reserve

chest

Kansas has introduced Senate Bill 352, aiming to establish a state-level Bitcoin and crypto Strategic Reserve, marking a significant step in its approach to digital assets.

user avatarFilippo Romano

Spotify to Increase Subscription Prices Amid New AI Features

chest

Spotify announces a price increase for its premium subscription plan to $13.99 starting in February, coinciding with the launch of new AI features.

user avatarEmily Carter

BTC Pair Movement Shows Significant Activity

chest

The BTC pair movement has changed by 46%, indicating additional cross-market activity and stable spot pricing.

user avatarTomas Novak

Hedera's Real-World Asset Tokenization Gains Traction

chest

Hedera has made significant strides in real-world asset tokenization, attracting institutional interest.

user avatarLeo van der Veen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.