Solana-based NFT project Iconics appears to have pulled back the curtain and defrauded unsuspecting investors of over $130,000.
Iconics NFT Carpet Scam Gets 1,000 SOLs
The project was the brainchild of an unidentified 17-year-old 3D digital artist who failed to deliver on his promises and disappeared with his investors’ money.
Iconics is supposed to be 8,000 NFTs resembling 3D busts, and the creator made a sample of 14 pieces on Discord.
A pre-sale was held yesterday and 2,000 NFTs were sold for a base price of 0.5 SOL. However, instead of receiving their “quality artwork”, buyers just received some random collection of emojis.
Unsurprisingly, after the failed sale, the Iconics Discord channel went offline and its official Twitter feed was deleted. Available information from the blockchain data also shows that the fraudsters received about 1,000 units of Solana, worth $138,000 at the current price – funds that have been dispersed to various accounts.
Reaction Tracks Iconics’ Carpet Pull
The victims of the scam have banded together and they have created a new Discord channel where they discuss their losses and, at the same time, are trying to continue the project.
One of the buyers of the project, Sol Big Brain, took to Twitter to lament the scam. He tweeted, “Damn. @IconicsSol just got ripped off. Pre-sold for .5 for $2k, I think $1000 SOL just got ripped off …… Sorry to those who got ripped off. I also minted a bunch because the art looked good. Speaking from experience.”
His tweet elicited sympathy from other NFT enthusiasts in the community, some of whom suggested that “people should start associating names with projects.” Some saw the funny side of it and dubbed it “ImojiDAO” and “Emoji Club”.
There are already projects such as the Anti-Social Robot Club, SGF, Skyline, Waifu DAO Solana and others in the Solana NFT community offering free airdrops of NFT to victims of fraud.