• 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

Dunamu's Record Fine Sets Precedent for VASPs

chest

The recent 352 billion won fine imposed on Dunamu, the operator of the Upbit exchange, sets a powerful precedent for compliance expectations within the VASP sector.

user avatarGustavo Mendoza

BlockDAG Gains Global Exposure Through F1 Partnership

chest

BlockDAG's partnership with BWT Alpine F1 team enhances its visibility and positions it as a serious player in the crypto space.

user avatarRajesh Kumar

BlockDAG Technology Gains Momentum Amid Presale

chest

BlockDAG is quietly advancing while the market focuses on short-term price movements, showcasing its unique technology and potential.

user avatarMiguel Rodriguez

Hyperliquid Faces Resistance at 30 Level Amid Recovery Signs

chest

Hyperliquid crypto is facing challenges in breaking past the 30 level despite recent recovery signs.

user avatarLuis Flores

Resistance Levels Indicate Need for Short-Term Cooling in POL Price Rally

chest

As POL approaches resistance levels, signs of hesitation and profit-taking have emerged, suggesting a potential cooling phase.

user avatarArif Mukhtar

Polymarket Expands Language Options to Enhance Global Accessibility

chest

Polymarket is testing a multilingual adaptation of its website to enhance global accessibility.

user avatarMaria Gutierrez

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.