Evolved Apes Rug Pull - Revision history

Azoundria: Another 30 minutes complete. Additional sources merged in. Information moved around.

2023-11-27T20:39:32Z

Another 30 minutes complete. Additional sources merged in. Information moved around.

← Older revision		Revision as of 14:39, 27 November 2023
Line 3:		Line 3:
	[[File:Evolvedapes.jpg\|thumb\|Evolved Apes]]The Evolved Apes NFTs were overseen by an anonymous individual, who didn't even pay the artist who made them. In addition to the NFTs, the development of a game was promised. After collecting the funds from various individuals around the world, they simply disappeared. The community has vowed to rebuild the project as Fight Back Apes. Progress continues.		[[File:Evolvedapes.jpg\|thumb\|Evolved Apes]]The Evolved Apes NFTs were overseen by an anonymous individual, who didn't even pay the artist who made them. In addition to the NFTs, the development of a game was promised. After collecting the funds from various individuals around the world, they simply disappeared. The community has vowed to rebuild the project as Fight Back Apes. Progress continues.

	This is a global/international case not involving a specific country.<ref name="insuraceblog-4513" /><ref name="evolvedapesarchive-4935" /><ref name="cointelegraph-4936" /><ref name="fightbackapestwitter-4937" /><ref name="opensea-4938" /><ref name="hypebeast-4939" /><ref name="thedailynfttwitter-4940~~" /><ref name="mattthrtwitter-4941" /><ref name="fashionkillaoptwitter-4942" /><ref name="guccibananasnfttwitter-4943~~" /><ref name="thecoinshark-4944" /><ref name="securitynewspaper-4945" /><ref name="halborn-4946" /><ref name="techtimes-4947" /><ref name="youtube-4948" /><ref name="fightbackapestwitter-4949" /><ref name="~~youtube~~-~~4950"~~ />		This is a global/international case not involving a specific country.<ref name="insuraceblog-4513" /><ref name="evolvedapesarchive-4935" /><ref name="cointelegraph-4936" /><ref name="fightbackapestwitter-4937" /><ref name="opensea-4938" /><ref name="hypebeast-4939" /><ref name="thedailynfttwitter-4940" /><ref name="thecoinshark-4944" /><ref name="securitynewspaper-4945" /><ref name="halborn-4946" /><ref name="techtimes-4947" /><ref name="youtube-4948" /><ref name="fightbackapestwitter-4949" /><ref name=":0">[https://www.vice.com/en/article/y3dyem/investors-spent-millions-on-evolved-apes-nfts-then-they-got-scammed Investors Spent Millions on ‘Evolved Apes’ NFTs. Then They Got Scammed. - Vice] (Nov 27, 2023)</ref>

	== About Evolved Apes ==		== About Evolved Apes ==
Line 31:		Line 31:
	!Description		!Description
	\|-		\|-
	\|October ~~6th~~, 2021		\|October 1st, 2021 4:21:02 PM MDT
	\|~~Main Event~~		\|Disbelief Tweet
	\|~~Expand this into a brief description of~~ what happened and the ~~impact~~. If multiple ~~lines are necessary~~, ~~add them here~~.		\|Twitter user fashionkilla_op responds in disbelief at what happened to the Evolved Apes NFT project<ref name="fashionkillaoptwitter-4942" /><ref name=":1">[https://web.archive.org/web/20211001222202/https://twitter.com/fashionkilla_op/status/1444065019537211393 fashionkilla_op - "I can’t believe what just happened to #evolvedapes" - Twitter Archive October 1st, 2021 4:22:02 PM MDT] (Nov 27, 2023)</ref>.
			\|-
			\|October 1st, 2021 11:43:00 PM MDT
			\|Criticism After Rug Pull
			\|Twitter user GucciBananasNFT criticizes another Twitter user BlockchainBoyy for their role in the scheme<ref name="guccibananasnfttwitter-4943" />.
			\|-
			\|October 3rd, 2021 7:21:00 PM MDT
			\|SVS NFT Gen2 Presale Reservation
			\|Spots on the SVS NFT project are reserved and offered for victims of the Evolved Ape rug pull<ref>[https://twitter.com/boosts/status/1444835147724070912 boosts - "Whoever has been affected by the @EvolvedApes project rug pull, we're planning to reserve some Gen2 presale spots for some of you, amount undecided until closer to release, but we welcome you to our @SVSNFT community." - Twitter] (Nov 27, 2023)</ref><ref>[https://twitter.com/zyphaa/status/1445082727695495176 zyphaa - "I was affected by the @BallerApeClub rug pull, is there any chance I could get a presale spot? I lost 6 SOL, would love an opportunity to join a real team" - Twitter] (Jan 14, 2023)</ref>.
			\|-
			\|October 5th, 2021 1:40:00 PM MDT
			\|Criticism of Evolved Apes NFT Promoters
			\|Twitter user quotes from Vice<ref name=":0" /> that “there were multiple red flags” in Evolved Apes early on, “but 99% of us were just blinded by the art" and includes pictures of Evolved Apes, implying that the art is not impressive<ref name="mattthrtwitter-4941" />.
	\|-		\|-
	\|October 6th, 2021 9:49:00 AM MDT		\|October 6th, 2021 9:49:00 AM MDT
	\|CryptoNews Article		\|CryptoNews Article
	\|CryptoNews reports that the anonymous developer behind the NFT project "Evolved Apes" has disappeared with $2.9 million in project funds, leaving investors in the dark. The developer, known as "Evil Ape," previously claimed that the NFT collection was part of an upcoming fighting game featuring the apes. However, the game has not materialized, and both the project's official Twitter account and website have vanished. Ethereum blockchain data reveals that the Evolved Apes wallet now has a balance of 0 after funds were siphoned into two new wallet addresses through transactions on September 24. The NFT collection is still listed on OpenSea, with prices starting at 0.005 ETH (about $18). Despite this incident, the overall NFT market has surpassed $10 billion in secondary sales, according to Messari<ref name="cryptonews-9845" />.		\|CryptoNews reports that the anonymous developer behind the NFT project "Evolved Apes" has disappeared with $2.9 million in project funds, leaving investors in the dark. The developer, known as "Evil Ape," previously claimed that the NFT collection was part of an upcoming fighting game featuring the apes. However, the game has not materialized, and both the project's official Twitter account and website have vanished. Ethereum blockchain data reveals that the Evolved Apes wallet now has a balance of 0 after funds were siphoned into two new wallet addresses through transactions on September 24. The NFT collection is still listed on OpenSea, with prices starting at 0.005 ETH (about $18). Despite this incident, the overall NFT market has surpassed $10 billion in secondary sales, according to Messari<ref name="cryptonews-9845" />.
			\|-
			\|December 16th, 2021 11:25:28 AM MST
			\|Bjørnar Kibsgaard Video
			\|Bjørnar Kibsgaard publishes a video on the Evolved Ape project, a rug pull. The images are still there, but they just don't have any value. Audience provide questions and answers on what a rug pull is, which has to do with the roadmap. A few community members are working on reviving the project. The Discord and different members are shared. Daz and Fight Back Apes are partnering together. A total of 20,000 new Fight Back NFTs will be created, with 10,000 to given to holders of the original Evolved Ape NFT. The remaining 10,000 will be offered for a public sale. There was concern about the rarity, which does not transfer to the new apes, so the new Fight Back Ape owners will get randomized rarity not related to their original rarity<ref name="youtube-4950" />.
	\|-		\|-
	\|April 29th, 2022 10:35:00 AM MDT		\|April 29th, 2022 10:35:00 AM MDT
Line 54:		Line 70:
	== Immediate Reactions ==		== Immediate Reactions ==

			=== Reactions On Twitter ===
			<ref name=":1" /><blockquote>
	"[T]he project’s storefront on OpenSea shows a tanked floor price of 0.005 ETH, significantly lower than the original minting cost. The decline in the floor price is no doubt linked to the current rug pull scandal rocking the project."		I can’t believe what just happened to #evolvedapes</blockquote>"[T]he project’s storefront on OpenSea shows a tanked floor price of 0.005 ETH, significantly lower than the original minting cost. The decline in the floor price is no doubt linked to the current rug pull scandal rocking the project."


Line 71:		Line 87:
	== Ultimate Outcome ==		== Ultimate Outcome ==
	Some members of the community formed a separate group to continue project development under the name "Fight Back Apes".		Some members of the community formed a separate group to continue project development under the name "Fight Back Apes".

			=== Criticism of NFT Promoters ===
			<ref name="mattthrtwitter-4941" />

	=== Fight Back Apes Project ===		=== Fight Back Apes Project ===
Line 78:		Line 97:

	"The entities behind the new faction say they wish to create a more community-centric operating model for the project, including a multisig wallet, to prevent the repeat of another Evil Ape debacle." "With Evil Ape still receiving the 4% royalties on secondary sales, the current plan is to create a new project that will airdrop new NFTs to current holders."		"The entities behind the new faction say they wish to create a more community-centric operating model for the project, including a multisig wallet, to prevent the repeat of another Evil Ape debacle." "With Evil Ape still receiving the 4% royalties on secondary sales, the current plan is to create a new project that will airdrop new NFTs to current holders."

			Bjørnar Kibsgaard publishes a video on the Evolved Ape project, a rug pull. The images are still there, but they just don't have any value. Audience provide questions and answers on what a rug pull is, which has to do with the roadmap. A few community members are working on reviving the project. The Discord and different members are shared. Daz and Fight Back Apes are partnering together. A total of 20,000 new Fight Back NFTs will be created, with 10,000 to given to holders of the original Evolved Ape NFT. The remaining 10,000 will be offered for a public sale. There was concern about the rarity, which does not transfer to the new apes, so the new Fight Back Ape owners will get randomized rarity not related to their original rarity<ref name="youtube-4950" />.

	== Total Amount Recovered ==		== Total Amount Recovered ==
Line 124:		Line 145:
	<ref name="hypebeast-4939">[https://hypebeast.com/2021/10/evolved-apes-nft-investors-scammed-for-millions-news "Evolved Apes" NFT Investors Scammed for Millions \| HYPEBEAST] (Dec 29, 2021)</ref>		<ref name="hypebeast-4939">[https://hypebeast.com/2021/10/evolved-apes-nft-investors-scammed-for-millions-news "Evolved Apes" NFT Investors Scammed for Millions \| HYPEBEAST] (Dec 29, 2021)</ref>
	<ref name="thedailynfttwitter-4940">[https://twitter.com/The_DailyNFT/status/1444110890815537158 @The_DailyNFT Twitter] (Dec 29, 2021)</ref>		<ref name="thedailynfttwitter-4940">[https://twitter.com/The_DailyNFT/status/1444110890815537158 @The_DailyNFT Twitter] (Dec 29, 2021)</ref>
	<ref name="mattthrtwitter-4941">[https://twitter.com/mattthr/status/1445474016106467339 @mattthr Twitter] (Dec 29, 2021)</ref>		<ref name="mattthrtwitter-4941">[https://twitter.com/mattthr/status/1445474016106467339 mattthr - "NFT scam marks: “there were multiple red flags” in Evolved Apes early on, “but 99% of us were just blinded by the art"" - Twitter] (Dec 29, 2021)</ref>
	<ref name="fashionkillaoptwitter-4942">[https://twitter.com/fashionkilla_op/status/1444065019537211393 @fashionkilla_op Twitter] (Dec 29, 2021)</ref>		<ref name="fashionkillaoptwitter-4942">[https://twitter.com/fashionkilla_op/status/1444065019537211393 fashionkilla_op - "I can’t believe what just happened to #evolvedapes" - Twitter] (Dec 29, 2021)</ref>
	<ref name="guccibananasnfttwitter-4943">[https://twitter.com/GucciBananasNFT/status/1444176274612760579 @~~GucciBananasNFT~~ Twitter] (Dec 29, 2021)</ref>		<ref name="guccibananasnfttwitter-4943">[https://twitter.com/GucciBananasNFT/status/1444176274612760579 GucciBananasNFT - "@BlockchainBoyy happened 2 days after I said it was a rug. Shame on you and the company you keep. I would tag Evolved Apes but their Twitter has been deleted ofc." - Twitter] (Dec 29, 2021)</ref>
	<ref name="thecoinshark-4944">[https://thecoinshark.net/NFT-non-fungible-token/the-creator-of-the-nft-evolved-apes-collection-stole-over-27-million-from-investors The creator of the NFT Evolved Apes collection stole over $2.7 million from investors - CoinShark] (Dec 29, 2021)</ref>		<ref name="thecoinshark-4944">[https://thecoinshark.net/NFT-non-fungible-token/the-creator-of-the-nft-evolved-apes-collection-stole-over-27-million-from-investors The creator of the NFT Evolved Apes collection stole over $2.7 million from investors - CoinShark] (Dec 29, 2021)</ref>
	<ref name="securitynewspaper-4945">[https://www.securitynewspaper.com/2021/10/07/7-new-techniques-for-nft-theft-this-is-how-they-stole-millions-of-evolved-apes-nft/ 7 new techniques for NFT theft. This is how they stole millions of Evolved Apes NFT] (Dec 29, 2021)</ref>		<ref name="securitynewspaper-4945">[https://www.securitynewspaper.com/2021/10/07/7-new-techniques-for-nft-theft-this-is-how-they-stole-millions-of-evolved-apes-nft/ 7 new techniques for NFT theft. This is how they stole millions of Evolved Apes NFT] (Dec 29, 2021)</ref>
Line 133:		Line 154:
	<ref name="youtube-4948">[https://www.youtube.com/watch?v=g63XqyYL8w0 NFT Gaming Project EVOLVED APES Earn ETH Rewards, Win Ethereum in this Versus Fighting Game! - YouTube] (Dec 29, 2021)</ref>		<ref name="youtube-4948">[https://www.youtube.com/watch?v=g63XqyYL8w0 NFT Gaming Project EVOLVED APES Earn ETH Rewards, Win Ethereum in this Versus Fighting Game! - YouTube] (Dec 29, 2021)</ref>
	<ref name="fightbackapestwitter-4949">https://mobile.twitter.com/FightbackApes/status/1461514823347458048 (Dec 29, 2021)</ref>		<ref name="fightbackapestwitter-4949">https://mobile.twitter.com/FightbackApes/status/1461514823347458048 (Dec 29, 2021)</ref>
	<ref name="youtube-4950">[https://www.youtube.com/watch?v=z-xl5oKxgow Evolved Apes (NFT Rugpull) Comes Back with Fight Back Apes! - YouTube] (Dec 29, 2021)</ref>		<ref name="youtube-4950">[https://www.youtube.com/watch?v=z-xl5oKxgow Bjørnar Kibsgaard - Evolved Apes (NFT Rugpull) Comes Back with Fight Back Apes! - YouTube] (Dec 29, 2021)</ref>
	<ref name="cryptonews-9845">[https://cryptonews.com/news/nft-project-evolved-apes-developer-disappears-with-usd-28m.htm NFT Project ‘Evolved Apes' Developer Disappears with USD 2.9M - CryptoNews] (Dec 1, 2022)</ref>		<ref name="cryptonews-9845">[https://cryptonews.com/news/nft-project-evolved-apes-developer-disappears-with-usd-28m.htm NFT Project ‘Evolved Apes' Developer Disappears with USD 2.9M - CryptoNews] (Dec 1, 2022)</ref>
	</references>		</references>

Azoundria: Another 30 minutes complete. Additional sources merged in. Prevention completed. Information moved around.

2023-11-22T22:27:04Z

Another 30 minutes complete. Additional sources merged in. Prevention completed. Information moved around.

Show changes

Azoundria at 01:50, 4 May 2023

2023-05-04T01:50:25Z

← Older revision		Revision as of 19:50, 3 May 2023
Line 1:		Line 1:
	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/evolvedapesrugpull.php}}		{{Imported Case Study 2\|source=https://www.quadrigainitiative.com/casestudy/evolvedapesrugpull.php}}
	{{Unattributed Sources}}		{{Unattributed Sources}}

	[[File:Evolvedapes.jpg\|thumb\|Evolved Apes]]The Evolved Apes NFTs were overseen by an anonymous individual, who didn't even pay the artist who made them. In addition to the NFTs, the development of a game was promised. After collecting the funds from various individuals around the world, they simply disappeared. The community has vowed to rebuild the project as Fight Back Apes. Progress continues.		[[File:Evolvedapes.jpg\|thumb\|Evolved Apes]]The Evolved Apes NFTs were overseen by an anonymous individual, who didn't even pay the artist who made them. In addition to the NFTs, the development of a game was promised. After collecting the funds from various individuals around the world, they simply disappeared. The community has vowed to rebuild the project as Fight Back Apes. Progress continues.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.<ref name="insuraceblog-4513" /><ref name="evolvedapesarchive-4935" /><ref name="cointelegraph-4936" /><ref name="fightbackapestwitter-4937" /><ref name="opensea-4938" /><ref name="hypebeast-4939" /><ref name="thedailynfttwitter-4940" /><ref name="mattthrtwitter-4941" /><ref name="fashionkillaoptwitter-4942" /><ref name="guccibananasnfttwitter-4943" /><ref name="thecoinshark-4944" /><ref name="securitynewspaper-4945" /><ref name="halborn-4946" /><ref name="techtimes-4947" /><ref name="youtube-4948" /><ref name="fightbackapestwitter-4949" /><ref name="youtube-4950" /><ref name="cryptonews-9845" />
	<ref name="insuraceblog-4513" /><ref name="evolvedapesarchive-4935" /><ref name="cointelegraph-4936" /><ref name="fightbackapestwitter-4937" /><ref name="opensea-4938" /><ref name="hypebeast-4939" /><ref name="thedailynfttwitter-4940" /><ref name="mattthrtwitter-4941" /><ref name="fashionkillaoptwitter-4942" /><ref name="guccibananasnfttwitter-4943" /><ref name="thecoinshark-4944" /><ref name="securitynewspaper-4945" /><ref name="halborn-4946" /><ref name="techtimes-4947" /><ref name="youtube-4948" /><ref name="fightbackapestwitter-4949" /><ref name="youtube-4950" /><ref name="cryptonews-9845" />

	== About Evolved Apes ==		== About Evolved Apes ==
Line 77:		Line 76:
	!Description		!Description
	\|-		\|-
	\|October 6th, 2021 ~~12:00:00 AM~~		\|October 6th, 2021
	\|Main Event		\|Main Event
	\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.		\|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
Line 85:		Line 84:
	\|		\|
	\|}		\|}

			== Technical Details ==
			This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

	== Total Amount Lost ==		== Total Amount Lost ==
Line 104:		Line 106:
	== Ongoing Developments ==		== Ongoing Developments ==
	What parts of this case are still remaining to be concluded?		What parts of this case are still remaining to be concluded?
			== General Prevention Policies ==
			The funds were stored in the hands of an anonymous developer. Funds should be held in a multi-sig wallet by known and trusted entities who can be held to account.
			== Individual Prevention Policies ==
			{{Prevention:Individuals:Placeholder}}

			{{Prevention:Individuals:End}}

			== Platform Prevention Policies ==
			{{Prevention:Platforms:Placeholder}}

			{{Prevention:Platforms:End}}

			== Regulatory Prevention Policies ==
			{{Prevention:Regulators:Placeholder}}

	== Prevention ~~Policies ==~~		{{Prevention:Regulators:End}}
	~~The funds were stored in the hands of an anonymous developer. Funds should be held in a multi-sig wallet by known and trusted entities who can be held to account.~~

	== References ==		== References ==

Azoundria at 23:54, 27 February 2023

2023-02-27T23:54:39Z

Azoundria: Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/evolvedapesrugpull.php}} Evolved ApesThe Evolved Apes NFTs were overseen by an anonymous individual, who didn't even pay the artist who made them. In addition to the NFTs, the development of a game was promised. After collecting the funds from various individuals around the world, they simply disappeared. The community has vowed to rebuild the project as Fight Back A..."

2023-01-28T03:47:31Z

Created page with "{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/evolvedapesrugpull.php}} thumb|Evolved ApesThe Evolved Apes NFTs were overseen by an anonymous individual, who didn't even pay the artist who made them. In addition to the NFTs, the development of a game was promised. After collecting the funds from various individuals around the world, they simply disappeared. The community has vowed to rebuild the project as Fight Back A..."

New page

{{Imported Case Study|source=https://www.quadrigainitiative.com/casestudy/evolvedapesrugpull.php}}

[[File:Evolvedapes.jpg|thumb|Evolved Apes]]The Evolved Apes NFTs were overseen by an anonymous individual, who didn't even pay the artist who made them. In addition to the NFTs, the development of a game was promised. After collecting the funds from various individuals around the world, they simply disappeared. The community has vowed to rebuild the project as Fight Back Apes. Progress continues.

This is a global/international case not involving a specific country.

== About Evolved Apes ==
"Welcome to evolved apes, the place where we pay homage to our long lost brainless relatives. Ten thousand brain dead neanderthals have spawned on the face of planet earth. All in one place, watch as the chaos unfolds. In this uncontrolled wasteland, you have two choices fight or die. Those brave enough to enter this kingdom, these are your requirements."

"Equality does not exist in this kingdom, you will be judged on what you possess. That is why we have created a rarity system to help differentiate between which apes will be destined for the win. There are 100 total traits in the kingdom and these have been associated as either common, uncommon, rare or super rare. Depending on how unique your trait is the more power you will possess in the kingdom."

"Evolved Apes is described on NFT marketplace OpenSea as “a collection of 10,000 unique NFTs trapped inside a lawless land.” They are “fighting for survival, only the strongest ape will prevail,” it says."

"Do I own the Evolved Ape after purchasing? Yes, full intellectual properties are given to the buyer."

"The science team at EvolvedApe will be working on helping these brain dead Neanderthals develop basic functions. A serum will be airdropped to all holders of the project, allowing them to take their ape to the next phase of evolution. Will it work, that’s the question that’s been bothering everyone at the Ape labs…."

"Indeed, “Evolved Apes” had been one of the hyped NFT mints recently, with the 10,000-strong collection reportedly selling out in 10 minutes and the floor price rising steadily following the swift sale." "In addition to the cards, the developer, known to the community under the pseudonym Evil Ape, has promised to release a blockchain fighting game about the opposition of these creatures, “abandoned in lawless land”."

"However, the project’s storefront on OpenSea shows a tanked floor price of 0.005 ETH, significantly lower than the original minting cost. The decline in the floor price is no doubt linked to the current rug pull scandal rocking the project."

"Some investors have pointed out the misalignments with the project, stating that they were suspicious after investors noticed unprofessional announcements after the public sale on September 24."

"Going by the moniker “Evil Ape,” the developer has allegedly lived up to the name by vanishing with 798 Ether (ETH) worth over $2.7 million from the project’s coffers." "Evolved Apes, a collection of 10,000 Ape NFTs anonymous developers known as Evil Ape disappeared with NFTs worth 798 ETH."

"Just a week after the Evolved Ape is launched, the anonymous developer behind the project has seemingly disappeared and gone dark on social." "The official website and Twitter handles of Evolved Apes were deleted." "Apart from allegedly siphoning all the project’s money, Evil Ape also took down the “Evolved Apes’” Twitter account and website."

"Investors who participated in the Evolved Apes social media competition had not yet received their NFT prizes and took to the community’s Discord chat to ask questions. One investor, Mike_Cryptobull, spent over $10,000 USD on now a worthless digital drawing. In a report he wrote to others affected by the cut-and-run incident, he said, “What has happened is that Evil Ape has washed his hands of the project taking away the wallet with all the ETH from minting that was to be used for everything, from paying the artist, paying out cash giveaways, paying for marketing, paying for rarity tools, developing the game and everything else in between.”

"The artist behind the actual drawings was in fact not paid, despite hundreds of sales of over $50,000 USD were made. Each of the Apes also netted 4% in royalties. OpenSea has yet to respond and there is no word on the Evolved Apes creator." "Investors appointed Mike_Cryptobull as the head of this “mission” to understand what was going on."

"The result of his work was a PDF file in which he presented all the facts collected about the project, informing the rest of the sad news that Evil Ape, who is the head of the Evolved Apes, is most likely a scammer and controls the wallet with all the money collected as part of the project."

"Naturally, investors are left quite upset – despite the fact that the legality of this ‘theft’ is actually unclear. Why? Well, because those who invested did actually receive what they paid for – an NFT. The Evolved Apes NFT was eventually supposed to be usable in a fighting game. Rather than creating that, Evil Ape decided to bounce with the money. This rug pull is far from the first of its kind – but it is quite a notable one."

"But investors decided not to despair and continue to develop the idea of Evolved Apes, calling it Fight Back Apes. Thus, the people who were promised to create a fighting game nevertheless became participants in the fight, but not with virtual monkeys, but with a very real scammer under the nickname Evil Ape."

"Some members of the NFT project are attempting to continue the development of the game, while efforts are underway to apprehend the alleged culprit." "Some members of the community have come together to continue the development of the project under the umbrella of “Fight Back Apes.”"

"The entities behind the new faction say they wish to create a more community-centric operating model for the project, including a multisig wallet, to prevent the repeat of another Evil Ape debacle." "With Evil Ape still receiving the 4% royalties on secondary sales, the current plan is to create a new project that will airdrop new NFTs to current holders."

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

* Known history of when and how the service was started.
* What problems does the company or service claim to solve?
* What marketing materials were used by the firm or business?
* Audits performed, and excerpts that may have been included.
* Business registration documents shown (fake or legitimate).
* How were people recruited to participate?
* Public warnings and announcements prior to the event.

Don't Include:
* Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
* Anything that wasn't reasonably knowable at the time of the event.
There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

== The Reality ==
This sections is included if a case involved deception or information that was unknown at the time. Examples include:

* When the service was actually started (if different than the "official story").
* Who actually ran a service and their own personal history.
* How the service was structured behind the scenes. (For example, there was no "trading bot".)
* Details of what audits reported and how vulnerabilities were missed during auditing.

== What Happened ==
The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.
{| class="wikitable"
|+Key Event Timeline - Evolved Apes Rug Pull
!Date
!Event
!Description
|-
|October 6th, 2021 12:00:00 AM
|Main Event
|Expand this into a brief description of what happened and the impact. If multiple lines are necessary, add them here.
|-
|
|
|
|}

== Total Amount Lost ==
The total amount lost has been estimated at $2,700,000 USD.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

== Immediate Reactions ==
How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

== Ultimate Outcome ==
What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

== Total Amount Recovered ==
There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

== Ongoing Developments ==
What parts of this case are still remaining to be concluded?

== Prevention Policies ==
The funds were stored in the hands of an anonymous developer. Funds should be held in a multi-sig wallet by known and trusted entities who can be held to account.

== References ==
[https://blog.insurace.io/security-incidents-in-october-cfed829449d0 https://blog.insurace.io/security-incidents-in-october-cfed829449d0] (Dec 16)

[https://web.archive.org/web/20210925114134/https://www.evolvedapes.com/ Evolved Ape] (Dec 28)

[https://cointelegraph.com/news/evolved-apes-nft-creator-allegedly-absconds-with-2-7-million ‘Evolved Apes’ NFT creator allegedly absconds with $2.7 million] (Dec 28)

[https://twitter.com/FightbackApes/status/1444848630255472640 @FightbackApes Twitter] (Dec 28)

[https://opensea.io/collection/evolved-apes-inc https://opensea.io/collection/evolved-apes-inc] (Dec 28)

[https://hypebeast.com/2021/10/evolved-apes-nft-investors-scammed-for-millions-news "Evolved Apes" NFT Investors Scammed for Millions | HYPEBEAST] (Dec 28)

[https://twitter.com/The_DailyNFT/status/1444110890815537158 @The_DailyNFT Twitter] (Dec 28)

[https://twitter.com/mattthr/status/1445474016106467339 @mattthr Twitter] (Dec 28)

[https://twitter.com/fashionkilla_op/status/1444065019537211393 @fashionkilla_op Twitter] (Dec 28)

[https://twitter.com/GucciBananasNFT/status/1444176274612760579 @GucciBananasNFT Twitter] (Dec 28)

[https://thecoinshark.net/NFT-non-fungible-token/the-creator-of-the-nft-evolved-apes-collection-stole-over-27-million-from-investors The creator of the NFT Evolved Apes collection stole over $2.7 million from investors - CoinShark] (Dec 28)

[https://www.securitynewspaper.com/2021/10/07/7-new-techniques-for-nft-theft-this-is-how-they-stole-millions-of-evolved-apes-nft/ 7 new techniques for NFT theft. This is how they stole millions of Evolved Apes NFT] (Dec 28)

[https://halborn.com/explained-the-evolved-apes-rug-pull-september-2021/ Explained: The Evolved Apes Rug Pull (September 2021) - halborn] (Dec 28)

[https://www.techtimes.com/articles/266311/20211006/evolved-apes-nft-developer-disappears-along-2-7-million-ether.htm 'Evolved Apes' NFT Developer Disappears Along with $2.7 Million in Ether of Funds | Tech Times] (Dec 28)

[https://www.youtube.com/watch?v=g63XqyYL8w0 NFT Gaming Project EVOLVED APES Earn ETH Rewards, Win Ethereum in this Versus Fighting Game! - YouTube] (Dec 28)

[https://mobile.twitter.com/FightbackApes/status/1461514823347458048 https://mobile.twitter.com/FightbackApes/status/1461514823347458048] (Dec 28)

[https://www.youtube.com/watch?v=z-xl5oKxgow Evolved Apes (NFT Rugpull) Comes Back with Fight Back Apes! - YouTube] (Dec 28)

[https://cryptonews.com/news/nft-project-evolved-apes-developer-disappears-with-usd-28m.htm NFT Project ‘Evolved Apes' Developer Disappears with USD 2.9M] (Dec 1)

← Older revision		Revision as of 17:54, 27 February 2023
Line 1:		Line 1:
	{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/evolvedapesrugpull.php}}		{{Imported Case Study\|source=https://www.quadrigainitiative.com/casestudy/evolvedapesrugpull.php}}
			{{Unattributed Sources}}

	[[File:Evolvedapes.jpg\|thumb\|Evolved Apes]]The Evolved Apes NFTs were overseen by an anonymous individual, who didn't even pay the artist who made them. In addition to the NFTs, the development of a game was promised. After collecting the funds from various individuals around the world, they simply disappeared. The community has vowed to rebuild the project as Fight Back Apes. Progress continues.		[[File:Evolvedapes.jpg\|thumb\|Evolved Apes]]The Evolved Apes NFTs were overseen by an anonymous individual, who didn't even pay the artist who made them. In addition to the NFTs, the development of a game was promised. After collecting the funds from various individuals around the world, they simply disappeared. The community has vowed to rebuild the project as Fight Back Apes. Progress continues.

	This is a global/international case not involving a specific country.		This is a global/international case not involving a specific country.
			<ref name="insuraceblog-4513" /><ref name="evolvedapesarchive-4935" /><ref name="cointelegraph-4936" /><ref name="fightbackapestwitter-4937" /><ref name="opensea-4938" /><ref name="hypebeast-4939" /><ref name="thedailynfttwitter-4940" /><ref name="mattthrtwitter-4941" /><ref name="fashionkillaoptwitter-4942" /><ref name="guccibananasnfttwitter-4943" /><ref name="thecoinshark-4944" /><ref name="securitynewspaper-4945" /><ref name="halborn-4946" /><ref name="techtimes-4947" /><ref name="youtube-4948" /><ref name="fightbackapestwitter-4949" /><ref name="youtube-4950" /><ref name="cryptonews-9845" />

	== About Evolved Apes ==		== About Evolved Apes ==
Line 107:		Line 109:

	== References ==		== References ==
	[https://blog.insurace.io/security-incidents-in-october-cfed829449d0 https://blog.insurace.io/security-incidents-in-october-cfed829449d0] (Dec 16)		<references><ref name="insuraceblog-4513">[https://blog.insurace.io/security-incidents-in-october-cfed829449d0 https://blog.insurace.io/security-incidents-in-october-cfed829449d0] (Dec 16, 2021)</ref>

	[https://web.archive.org/web/20210925114134/https://www.evolvedapes.com/ Evolved Ape] (Dec 28)		<ref name="evolvedapesarchive-4935">[https://web.archive.org/web/20210925114134/https://www.evolvedapes.com/ Evolved Ape] (Dec 29, 2021)</ref>

	[https://cointelegraph.com/news/evolved-apes-nft-creator-allegedly-absconds-with-2-7-million ‘Evolved Apes’ NFT creator allegedly absconds with $2.7 million] (Dec 28)		<ref name="cointelegraph-4936">[https://cointelegraph.com/news/evolved-apes-nft-creator-allegedly-absconds-with-2-7-million ‘Evolved Apes’ NFT creator allegedly absconds with $2.7 million] (Dec 29, 2021)</ref>

	[https://twitter.com/FightbackApes/status/1444848630255472640 @FightbackApes Twitter] (Dec 28)		<ref name="fightbackapestwitter-4937">[https://twitter.com/FightbackApes/status/1444848630255472640 @FightbackApes Twitter] (Dec 29, 2021)</ref>

	[https://opensea.io/collection/evolved-apes-inc https://opensea.io/collection/evolved-apes-inc] (Dec 28)		<ref name="opensea-4938">[https://opensea.io/collection/evolved-apes-inc https://opensea.io/collection/evolved-apes-inc] (Dec 29, 2021)</ref>

	[https://hypebeast.com/2021/10/evolved-apes-nft-investors-scammed-for-millions-news "Evolved Apes" NFT Investors Scammed for Millions \| HYPEBEAST] (Dec 28)		<ref name="hypebeast-4939">[https://hypebeast.com/2021/10/evolved-apes-nft-investors-scammed-for-millions-news "Evolved Apes" NFT Investors Scammed for Millions \| HYPEBEAST] (Dec 29, 2021)</ref>

	[https://twitter.com/The_DailyNFT/status/1444110890815537158 @The_DailyNFT Twitter] (Dec 28)		<ref name="thedailynfttwitter-4940">[https://twitter.com/The_DailyNFT/status/1444110890815537158 @The_DailyNFT Twitter] (Dec 29, 2021)</ref>

	[https://twitter.com/mattthr/status/1445474016106467339 @mattthr Twitter] (Dec 28)		<ref name="mattthrtwitter-4941">[https://twitter.com/mattthr/status/1445474016106467339 @mattthr Twitter] (Dec 29, 2021)</ref>

	[https://twitter.com/fashionkilla_op/status/1444065019537211393 @fashionkilla_op Twitter] (Dec 28)		<ref name="fashionkillaoptwitter-4942">[https://twitter.com/fashionkilla_op/status/1444065019537211393 @fashionkilla_op Twitter] (Dec 29, 2021)</ref>

	[https://twitter.com/GucciBananasNFT/status/1444176274612760579 @GucciBananasNFT Twitter] (Dec 28)		<ref name="guccibananasnfttwitter-4943">[https://twitter.com/GucciBananasNFT/status/1444176274612760579 @GucciBananasNFT Twitter] (Dec 29, 2021)</ref>

	[https://thecoinshark.net/NFT-non-fungible-token/the-creator-of-the-nft-evolved-apes-collection-stole-over-27-million-from-investors The creator of the NFT Evolved Apes collection stole over $2.7 million from investors - CoinShark] (Dec 28)		<ref name="thecoinshark-4944">[https://thecoinshark.net/NFT-non-fungible-token/the-creator-of-the-nft-evolved-apes-collection-stole-over-27-million-from-investors The creator of the NFT Evolved Apes collection stole over $2.7 million from investors - CoinShark] (Dec 29, 2021)</ref>

	[https://www.securitynewspaper.com/2021/10/07/7-new-techniques-for-nft-theft-this-is-how-they-stole-millions-of-evolved-apes-nft/ 7 new techniques for NFT theft. This is how they stole millions of Evolved Apes NFT] (Dec 28)		<ref name="securitynewspaper-4945">[https://www.securitynewspaper.com/2021/10/07/7-new-techniques-for-nft-theft-this-is-how-they-stole-millions-of-evolved-apes-nft/ 7 new techniques for NFT theft. This is how they stole millions of Evolved Apes NFT] (Dec 29, 2021)</ref>

	[https://halborn.com/explained-the-evolved-apes-rug-pull-september-2021/ Explained: The Evolved Apes Rug Pull (September 2021) - halborn] (Dec 28)		<ref name="halborn-4946">[https://halborn.com/explained-the-evolved-apes-rug-pull-september-2021/ Explained: The Evolved Apes Rug Pull (September 2021) - halborn] (Dec 29, 2021)</ref>

	[https://www.techtimes.com/articles/266311/20211006/evolved-apes-nft-developer-disappears-along-2-7-million-ether.htm 'Evolved Apes' NFT Developer Disappears Along with $2.7 Million in Ether of Funds \| Tech Times] (Dec 28)		<ref name="techtimes-4947">[https://www.techtimes.com/articles/266311/20211006/evolved-apes-nft-developer-disappears-along-2-7-million-ether.htm 'Evolved Apes' NFT Developer Disappears Along with $2.7 Million in Ether of Funds \| Tech Times] (Dec 29, 2021)</ref>

	[https://www.youtube.com/watch?v=g63XqyYL8w0 NFT Gaming Project EVOLVED APES Earn ETH Rewards, Win Ethereum in this Versus Fighting Game! - YouTube] (Dec 28)		<ref name="youtube-4948">[https://www.youtube.com/watch?v=g63XqyYL8w0 NFT Gaming Project EVOLVED APES Earn ETH Rewards, Win Ethereum in this Versus Fighting Game! - YouTube] (Dec 29, 2021)</ref>

	[https://mobile.twitter.com/FightbackApes/status/1461514823347458048 https://mobile.twitter.com/FightbackApes/status/1461514823347458048] (Dec 28)		<ref name="fightbackapestwitter-4949">[https://mobile.twitter.com/FightbackApes/status/1461514823347458048 https://mobile.twitter.com/FightbackApes/status/1461514823347458048] (Dec 29, 2021)</ref>

	[https://www.youtube.com/watch?v=z-xl5oKxgow Evolved Apes (NFT Rugpull) Comes Back with Fight Back Apes! - YouTube] (Dec 28)		<ref name="youtube-4950">[https://www.youtube.com/watch?v=z-xl5oKxgow Evolved Apes (NFT Rugpull) Comes Back with Fight Back Apes! - YouTube] (Dec 29, 2021)</ref>

	[https://cryptonews.com/news/nft-project-evolved-apes-developer-disappears-with-usd-28m.htm NFT Project ‘Evolved Apes' Developer Disappears with USD 2.9M] (Dec 1)		<ref name="cryptonews-9845">[https://cryptonews.com/news/nft-project-evolved-apes-developer-disappears-with-usd-28m.htm NFT Project ‘Evolved Apes' Developer Disappears with USD 2.9M] (Dec 1, 2022)</ref></references>