• 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

Vitalik Buterin Clarifies His Position on Future of Life Institute

chest

Vitalik Buterin distances himself from the Future of Life Institute, expressing concerns about its shift towards political advocacy around AI.

user avatarDavid Robinson

Trump to Host Exclusive Memecoin Event at Mar-a-Lago

chest

US President Donald Trump is set to host a second exclusive memecoinholder event at his Mar-a-Lago estate in Florida on April 25, 2026.

user avatarJacob Williams

Binance Takes Legal Action Against WSJ as Senators Demand DOJ Accountability

chest

Binance has filed a defamation lawsuit against the Wall Street Journal while facing scrutiny from US senators regarding its compliance with sanctions.

user avatarAndrew Smith

Whale Activity in Ethereum Signals Growing Interest

chest

The large wallet identified as 0x8E3 has aggressively accumulated Ethereum, purchasing an additional $21.59 million worth of ETH, totaling approximately $152.81 million over three days, indicating growing interest in Ethereum.

user avatarZainab Kamara

Ethereum Attempts to Reclaim $2,100 Amid Whale Accumulation

chest

Ethereum is attempting to reclaim the $2,100 level as a significant wallet accumulates approximately $150 million worth of ETH, signaling potential market confidence.

user avatarSon Min-ho

Capital Growth in Bitcoin Network Amid Price Volatility

chest

The Bitcoin network is experiencing notable capital growth, despite price volatility, as indicated by the RVT ratio.

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.