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Evolved App Disappears from NFT Web, ‘Evil App’ Developer Vanishes With Nearly $3 Million in Ether

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Allegedly a collection of 10,000 non-fungible tokens (NFTs) called developed apps have been completely wiped from the internet. The anonymous developer of Evolved Apps, known as Evil Apps, has also gone missing, leaving investors disappointed. However, traces left on the blockchain showed that a total of 798 Ether was taken out of project funds in multiple transfers. On Thursday, September 7, 798 Ether was valued at $2.8 million (approximately Rs 21 crore).

The Evolved Apps project was released as a game-type NFT – which allowed buyers to buy any of the 10,000 available Apes NFT tokens and fight to survive in a chaotic land. In the current fad case, NFTs are digital assets that represent art, music, in-game items, and videos among other unique items that can be purchased using cryptocurrencies.

“What’s happened is that Evil Ape has pulled out of the project carrying the wallet with all the ether that was to be used for everything, from paying the artist, paying cash cheaper, to paying for marketing. , from paying for rarity to equipment, developing the game, and everything else,” a report by Vice.com quoted an investor as saying.

After the sale went live on September 24, investors in the Evolved Apps project began to notice some discrepancies. For starters, members of the community found that those who participated in a marketing-focused social media contest had not received their NFT rewards.

Later, it emerged that even the artist involved in creating these app NFTs was not paid.

To tie the situation together, investors in this developed app project got on a conference call to realize later, that they had been duped.

An investor going by the pseudonym of mike_cryptobull was appointed by others as the head of this mission to find this NFT scammer. According to a Vice report, mike_cryptobull had invested three ethers, amounting to more than $10,000 (approximately Rs 7.4 lakh).

“We will become the ‘Fight Back Apes’ fighting our nemesis as a community against the Evil Apes,” mike_cryptobull told Vice. Revealing his plan to track down this cyber fraudster.

Meanwhile, the developed ape project is still verified on the OpenSea platform. Since Friday, October 1, more than 574 App NFTs have been sold from the project, amounting to a substantial amount of 13.9 Ether i.e. $48,887 (approximately Rs.36.5 lakh).

In recent times, these game-type NFTs are gaining popularity in the crypto space.

Earlier this week, US venture capital (VC) firm Andreessen Horowitz led a Series B funding round for Vietnamese gaming studio Sky Mavis — which created the popular NFT game called “Axi Infinity.”

According to data from market tracker DappRadar, NFT sales volume rose to $10.7 billion (about Rs 79,820 crore) in the third quarter of 2021, eight times more than the previous quarter, as the craze for crypto assets hit new highs. has gone.


Interested in cryptocurrency? We discuss all things Orbital with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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