In this post we will talk about who is nft degen Machi Big Brother and why in the last 24 hours everyone has been calling him serial rugger? He also ranks first in pharmingu blur.
✔Spoiler: because he really is one of them. Now let's dive into some details!
🟢 Who is he?
Machi Big Brother , also known as Geoffrey HuangMr., is a Chinese blockchain entrepreneur. In 2018, he was accused of stealing more than 22,000 ETH at Formosa Financial. Since then, he has launched 10 failed pump-and-dump tokens and NFTs projects.
🟢 Why are you hearing about him now?
Because he does the same with his latest project. DeFi Apes. You may know two other names involved in this project - ShiLLin_ViLLian And barkmeta. However, whether they are involved in scams or not is still unknown.
This thread is not about them, but about Machi, which may now be the largest whale in space NFTs. It can promote the web3 market itself. To get a general idea of how big the figure is, he 1st bidder in blur and is already gaining 200k in points!!!
🟢 Projects he has ragpooled in the past
Here is a list of 10 projects that he managed to implement:
1. Mithril
2. Formosa
3. Machi X
4 Cream Finance
5. Wifey Finance
6. Swag Finance
7. Mith Cash
8. Typhoon Cash
9 Mud Games
10. Squid DAO
11. Defi Apes?
🟢 How did he do it
His strategy was simple and always the same: anonymous team, forked project, new FTX-funded wallets, and short lifecycle. All this happened within 3-4 years. Jeff was smart enough to check the circuits once every few months.
Community NFTs tends to quickly forget and forgive. That is why this is happening and will continue to happen until something changes. Many people have been burned along the way, and yet no one cares until they become a victim themselves.
🟢 Was he the only member?
The answer is no, he didn't manage it on his own. There are a few more names that are associated with scam, such as, Bun Hsu, Chzhang Lin, Wilson Huang and many others.
🟢 Why is he still free?
There are three main reasons:
- the complexity of the case
– lack of clear regulatory guidance in the blockchain industry
– problems in pursuing lawsuits through international waters
🟢 What can you do to stay safe?
The most important thing you can do is to do proper research before investing in anything. People are often not what they seem. In this case, a simple google search about him would be enough.
🟢 Where can you find out more about it?
All this information is publicly available and taken from a medium article by zachxbt which you can find here .
🟢 Conclusion
Always do your project research well. You can never know enough about who is behind the project that interests you. Another useful thread on the topic wrote NFTupdate Here .
Translation author thread : @ilya1ether
