Crypto Guy Forced to Sell Apes After Falling for Scam

"Please learn any lessons possible from this."

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.

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