Two hours after zachxbt published his research, the team made their first post in three months, with multiple excuses for the issues zachxbt highlighted.
Crypto sleuth zachxbt researched the Rich Bulls Club, an NFT project that launched in December with NFTs priced at 0.3 ETH (~$1,350) a pop. The project included a clause where "selling under our minimum selling price agreement is forbidden" — anyone who sold a Rich Bulls NFT for less than 3 ETH ($13,500) would find the NFT image modified to a bull with a poo emoji on its head, with the text "BANNED!" stamped across it in red. The project roadmap promised networking and business opportunities enabled by its community members, exclusive events, opportunities to win supercars or hundreds of thousands of dollars, and a "real-life Squid Game event" where one person would win $1 million. Needless to say, none of this transpired, and the project quietly deleted its website and Instagram accounts as the founder cashed out over $3 million.