7 Crypto Projects That Were Total Scams (February 2022 Edition)

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Screenshot: OpenSea

You know that NFT project, the Bored Ape Yacht Club? What if that, but like…. all the apes were jacked?

When the Jacked Ape Club launched, it promised 8,888 NFTs for sale, drawing inspiration from the biggest NFT collection in existence, the Bored Ape Yacht Club. But these apes were jacked, you see—muscle-bound apes that were swole as hell. Unfortunately for people who invested, it all came crashing down.

When just 3,200 of the NFTs sold, the founders “burned” the remaining supply, while telling everyone the project had completely sold out. Then, 13 different wallets received big payouts totaling $1.4 million worth of crypto, leaving just $530 in the project.

A cofounder on the project, who goes by the name Dylan, insists his project wasn’t a scam, but acknowledges he got a big payout. That payout, he insists, went to salaries. Dylan, however, says he’s “no longer associated with the project.”

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