Miss Universe NFT Rug Pull: How 802 People Are Left With No Explanation
- The Miss Universe NFT collection was affiliated with the official Miss Universe pageant
- The NFT collection was rug pulled for a total of $378,000
- Nearly 802 have been affected by the rug pull
The Miss Universe NFT collection was advertised as one of the most promising community-based NFT collections by notable celebrities but turned out to be another rug pull that has left 802 investors with no explanation as to where their money went.
An insight into the Miss Universe NFT rug pull
As pointed out by @ZachXBT, one of the biggest rug pull detectives, on Twitter, the Miss Universe NFT collection was affiliated with the official Miss Universe pageant and promoted by the likes of actor, writer, and comedian Steve Harvey and Miss Universe 2020 Andrea Meza.
The Miss Universe NFT project was announced in December 2021 with a mint price of 0.06 ETH per NFT. The website of the project had a roadmap that promised advertised items such as physical prints, meet-ups, charity donations, giveaways, and other benefits to the people who purchase the NFTs.
Interestingly, ZachXBT states that the NFT project was rug pulled in just 72 hours, and the website, Discord, and Instagram accounts related to the Miss Universe NFT were all deleted. Furthermore, the funds generated from the sale of the NFTs were not used to keep the promises mentioned in the roadmap but were directed to accounts of crypto exchanges Coinbase and Binance.
The official Miss Universe pageant has yet to announce anything related to the rug pull and take responsibility. The project was advertised on Twitter, Television, and other social media handles.
As many as 802 people have been affected and the amount lost by them is around $378,000.
Rising cases of rug pull
There has been a significant surge in the rug pulls that are promoted by celebrities. Recently, well-known TV personality Kim Kardashian was sued for the promotion of a scam crypto project called EthereumMax which has lost almost all of its value.
In the light of similar events, the US Department of Justice (DoJ) filed criminal charges against the creator of Baller Ape Club NFT collection for a suspected rug pull.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
