Investors’ desire for riskier investments is waning as mistrust of the digital asset market grows. Additionally, because investors are pulling back from making new investments, the FTX fall made the market worse!
Another fraud case has surfaced in the middle of these circumstances, when the market is slowing down. This fraud case is exacerbating the already numerous uncertainty present in the market! In this instance, the co-founder of an NFT platform is accused of engaging in fraudulent activity. To find out more about this bitcoin trader, read this blog.
Additional Information About This Fraud Case
The community is in shock as a result of the current fraud case in the virtual asset market. Blockparty is at the core of this fraud case. You may exchange these tokens on this NFT marketplace!
Following serious accusations, the former chief technical officer of this site was placed under custody. This officer was accused by US prosecutors of stealing more than $1 million USD in cash and cryptocurrency. And he took this sum of money from the business, including the money from the investors!
Who Is This Former Officer Of Blockparty?
Rikesh Thapa is a co-founder of Blockparty, an NFT marketplace. He quit this platform in the middle of 2019, having co-founded it in 2017. As he was leaving the company, he refused to give up the $1 million USD. He was supposed to hold this money for the corporation, thus it was in his bank account.
When he refused to give the money back to the corporation, he was taken into custody in South California. In addition to this fraud case, he faces additional accusations.
Things are becoming worse because of the news’s dissemination amid the market’s high levels of anxiety and uncertainty. In addition, the collapse of FTX is a major factor in this decline!
Additional Charges Against The Former Co-Founder
Thapa, the former co-founder, is facing additional charges of fraud and theft. The federal public defender’s office took a while to get back to him after his arrest. Following their arrest, the defendants are represented by this office. However, this did not occur in the instance of Rikesh Thapa since it took longer for the federal office to reply to this request!
Additionally, the request received a negative response from the NFT firm’s officials. Additional accusations against Thapa surfaced while the case was still pending in the federal court located in Manhattan.
What Does Thapa’s Prosecution Uncover?
Prosecutors claimed that Thapa embezzled $1 million from Blockparty. According to him, this was done to conserve the money as the company looked to increase the number of banking choices available. The plot thickens, though, when the truth is revealed in court.
Prosecutors emphasized that Thapa never used this sum for the benefit of the company or its advancement. Rather, he used the cash for other needs like clothes and travel.
In addition to the $1 million USD, the prosecution is also claiming that the former co-founder stole cryptocurrency. He erased the email account to conceal everything after stealing Bitcoins from this company!
Subsequently in 2019, Thapa journeyed to illicitly sell the company’s tokens. His purpose was to market the company’s cryptocurrency in Italy.
Blockparty And What It Does
The company’s main office is located in New Jersey. When Blockparty first launched, it provided a way to purchase tickets for events centered around blockchain technology. This platform changed its purpose in 2020 and became an NFT marketplace where investors could exchange NFTs.
On this platform, as a creator, you have a ton of amazing choices for making original NFTs. For the owners, such NFTs will be far more valuable and useful. You may also discover a variety of unusual NFTs here if you are a collector and enthusiast for this technology. Therefore, Blockparty is a great choice for NFT makers and collectors alike!
Conclusion
Investors find it difficult to put their faith and substantial money into the company when they hear about such scams. It would be ideal if you looked into the company’s legitimacy and user reviews. Make a thorough investigation of the prospective firm before making any kind of investment.
Millions of investors utilize the greatest trading bot, Bitcoin Smart. This site allows for cryptocurrency investments. Get started with investing right now!
