NFT Collector Forced to Sell Bored Apes After Falling for Ponzi Scheme and Loss 2,000 $ETH

A well-known NFT collector, @FranklinIsBored, has been forced to sell several Bored Apes after reportedly losing 2,000 $ETH (almost $4 million) in a Ponzi scheme. The collector, an aerospace engineer named Frank Caldwell II, has previously lost significant sums of crypto on two other occasions since early 2022.

He sold at least a million dollars worth of Bored Apes on Friday, April 14, to cover a BendDAO loan. The details of the project or individual responsible for the Ponzi scheme remain unclear, but Caldwell believed it to be credible due to other investors' involvement. Unfortunately, his funds were used as "casino gambling Ponzi" money and ultimately lost.