ChainCatcher news, according to The Block, CluCoin founder Austin Michael Taylor has been sentenced to 27 months in prison for telecommunications fraud and must pay $1.14 million in restitution.Taylor issued the CLU token on the BNB Chain in 2021, subsequently launching Goobers NFT, the Web3 game Gridlock, and the metaverse platform Xenia. In early 2023, he admitted to using investor funds for online gambling and embezzlement. The CLU token once reached a market value of $17 million, but is now only worth $54,000. The Goobers NFT had a peak floor price of 55.25 ETH, but the price has since plummeted.

ChainCatcher news, according to Cointelegraph, the Florida Attorney General's Office has released a statement saying that CluCoin founder Austin Michael Taylor pleaded guilty to wire fraud on August 15, as he frequently used funds provided by investors for his CluCoin (CLU) project to cover his online gambling habits. The FBI will notify "confirmed victims" of the compensation plan through their NFTs, marking the first time law enforcement has publicly stated it will use NFTs to connect with victims. The U.S. Attorney's Office has also requested that anyone who believes they are a victim of the fraud scheme provide relevant information to the FBI.Previous news reported that Austin Michael Taylor pleaded guilty to wire fraud on August 15, having transferred a total of $1.14 million in investor funds to his accounts on various cryptocurrency exchanges between May and December 2022, and then moved those funds to online casinos.

ChainCatcher news, the founder of the cryptocurrency project CluCoin, Austin Michael Taylor, pleaded guilty to telecommunications fraud on August 15. Taylor leveraged his extensive social media influence to promote a digital token called "CLU" and successfully launched CluCoin's initial coin offering (ICO) on May 19, 2021.However, court records show that between May and December 2022, Taylor transferred approximately $1.14 million of investor funds into his personal accounts and squandered it in various online casinos.Taylor organized an event called "NFTCon: Into the Metaverse" to promote interest and investment in CLU, CluCoin, and related projects. Taylor's sentencing hearing is scheduled for October 31 at 10 AM, where he faces a statutory maximum sentence of 20 years in prison.

ChainCatcher news, according to CoinDesk, crypto entrepreneur DNP3 stated on social media that he is addicted to gambling, misappropriated investor funds, and has lost all his assets. It is reported that DNP3's entrepreneurial projects include The Goobers NFT, the metaverse platform Gridcraft Network, and the charity-focused cryptocurrency CluCoin.The specific losses are currently unclear, but after the news broke, CluCoin's price plummeted by 63%, and The Goobers' market cap dropped by 9%. OpenSea data shows that The Goobers' total sales amount to 968 ETH, approximately 1.1 million USD. (CoinDesk)