• 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

2 years 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

Crypto Analysts Forecast Dogecoin Price Surge

chest

Multiple crypto analysts predict significant potential gains for Dogecoin, with targets ranging from $0.44 to $2.

user avatarAndrew Smith

Ethereum Faces Technical Hurdles in Post-Quantum Security Transition

chest

Ethereum faces technical challenges in transitioning to post-quantum security, as outlined by Will Corcoran from the Ethereum Foundation.

user avatarZainab Kamara

Ethereum Launches Post-Quantum Security Initiative

chest

Ethereum Foundation researcher Will Corcoran launched a new initiative focused on post-quantum security at the Institutional Ethereum Forum in New York, emphasizing the urgency of preparing for quantum threats.

user avatarJacob Williams

MoonPay Introduces Open Wallet Standard for AI Integration

chest

MoonPay has launched an open-source wallet standard for AI agents to manage funds and execute transactions across multiple blockchains.

user avatarSon Min-ho

Delaware Seeks to Reclaim Crypto Business with New Legislation

chest

Delaware aims to regain its status as a hub for stablecoins and blockchain companies through new legislation.

user avatarTando Nkube

Delaware Introduces New Legislation for Digital Asset Oversight

chest

Delaware lawmakers introduce a two-bill package to modernize banking laws and regulate stablecoins.

user avatarAyman Ben Youssef

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.