Crypto sleuth zachxbt has accused the NFT project "Boneheads" of rug pulling only weeks after the project minted in August 2021. Although they promised physical collectibles, more NFT collections, merch giveaways (including, of all things, rugs), and other perks, they never followed through.
zachxbt traced the funds to various centralized crypto exchanges, and also found that some of the money had been used to purchase other pricey NFTs including Bored Apes, CryptoPunks, and others. He also identified two individuals he suspected were behind the pseudonymous creators of the project, who had mysteriously begun posting luxury trips, designer purchases, and an expensive Mercedes after the project mint.
After zachxbt's thread, the project tweeted for the first time in a very long time, writing "for the 2736463266474th time, itz not rug 😪, just a very deliberately slow creative process, lots of pivots..." However, the project never followed through on their promised new deadline. The social media account showing evidence of the alleged creator's lavish spending was also deleted.