--- title: "Crypto Guy Forced to Sell Apes After Falling for Scam" description: "Another NFT collector just got caught up in a scam, losing millions of dollars worth of crypto in the process." date: "2023-04-17" modified: "2023-04-17" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/crypto-guy-forced-to-sell-apes-scam" categories: - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "bored apes" - "cryptocurrencies" - "nfts" - "the digest" --- # Crypto Guy Forced to Sell Apes After Falling for Scam ![Another NFT collector just got caught up in a scam, losing millions of dollars worth of crypto in the process.]() *\Image: Futurism\* ## Rug Pull Yet another NFT collector got caught up in a scam, losing millions of dollars worth of crypto in the process. Collector and aerospace engineer Frank Caldwell II, better known by his online handle FranklinIsBored, was forced to sell a number of his [Bored Ape NFTs]() after losing 2,000 Ether, worth just under $4 million, to a Ponzi scheme. It's a sign that people in the crypto space are still getting caught up in multi-million-dollar rackets — despite the well-known fact that the largely unregulated industry is [absolutely riddled]() with them. In a recent [tweet](), Caldwell lamented the fact that he got "[rug pulled]()" after investing in a scam, "thinking it was credible due to who else invested." "Someone used our $$ as a casino gambling Ponzi and flushed it down the drain," he wrote. "Please learn any lessons possible from this." ## Lesson Learned? Speaking of learning lessons, Caldwell is practically the poster child for making poor decisions when it comes to the crypto and NFT space. It's the third time the collector lost significant amounts of his crypto wealth, as [*Protos* reports](). In July 2022, for instance, Caldwell [lost 100 Ether]() after putting in a "joke" bid for a domain name he was selling. "This will be the joke and bag fumble of the century," he [wrote]() at the time. "I deserve all of the jokes and criticism." Caldwell [also shilled]() an NFT project early last year that later turned out to be a rug pull. Now, the collector's OpenSea account is [down to just two Apes](). That's a big drop from the over 60 it once held, according to *Protos*. That leaves the question: has Caldwell finally learned his lesson? Considering his latest tweet, it's a resounding... maybe? "I won't get involved in NFT trading/Twitter for a while, and will just focus on my private life for the time being with my remaining apes," Caldwell [wrote](). **More on NFTs:** *[Jury Rules that NFTs Aren't Really Art]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()