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The U.S. Attorney’s Office alleges that a Moroccan national successfully utilized a search engine to promote a fraudulent version of OpenSea, an NFT site.
NFT Scam: Moroccan Citizen Charged with $450K Theft on OpenSea
The Southern District of New York Office of the U.S. Attorney has filed charges against Moroccan national Soufiane Oulahaina for allegedly stealing $450,000 through a phony version of the NFT marketplace OpenSea. The U.S. Attorney’s Office’s press office released a statement on the charges.
According to the inquiry, the Moroccan person was successful in stealing roughly $500,000 worth of non-fungible tokens (NFTs), with the Manhattan-based victim being held responsible for the full amount. Due to a request from another nation, local law enforcement has detained the Moroccan suspect.
The scammer advertised the fraudulent OpenSea clone on a specific search engine, strategically positioning it on the first page of search results to deceive potential victims. When unsuspecting users entered their login credentials on the site, the information was immediately sent to the fraudster via email.
According to U.S. law enforcement, the Moroccan offender stole close to 40 NFTs, including priceless tokens from several collections, like CryptoDad, Meebit, Bored Ape Yacht Club, and Bored Ape Kennel Club. The defendant is accused with many offenses, each of which carries a potential jail term of up to 45 years.
A former manager of OpenSea was found guilty of insider trading in a prior case. The previous product manager, Nathaniel Chastain, was charged with choosing collections to be made accessible on the market and then buying these NFTs to resale when they were put up for sale. In connection with these purported transactions, he was accused of both fraud and money laundering.