Alleged scammer gives smart contract keys back to CryptoPhunks community

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The anonymous creator of CryptoPhunks, Azuki, Tendies, and Zunks, Zagabond.eth, has returned the keys to one of his kingdoms to its users.

The trouble began this week when Internet sleuths connected Zagabond to the recently-launched Azuki project. On May 10, the NFT community found that three other projects created by Zagabond were abandoned by their creator and Azuki holders started selling and the collection dropped significantly in price. 

Zagabond has participated in several Twitter Spaces after the incident. He claimed that he was ‘learning’ along the way, and that rug pulling the projects was not his plan. 

The community was angry. During one call, Zagabond was told that if the didn’t give back the codes to the CryptoPhunks community, he would be doxxed. On May 12th the creator of Phunks transferred the ownership of the smart contract to the community. At the moment it is owned by the lead developer of Not Larva Labs. 

All the holdings are being transferred to the community as well. $1,441,330.56 are now stored on the CryptoPhunks Vault.

CryptoPhunks is a strong community. The project has overcome OpenSea delisting. It won against the first-ever DMCA takedown held within the NFT sphere. 

Along with winning the ‘battle’ over the smart contract, CryptoPhunks has announced a possible collaboration with Supreme. 

The current floor price of the NFT project is 0.79 ETH (approximately $1,643), 838 ETH of volume traded. 

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Valeria Goncharenko

Valeria is an Italy-based writer passionate about Web3 and innovation. She is getting her second Major in International Business Management while dedicating her spare time to photography and fashion.

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