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Prosecutors in Florida have accused an active duty United States Air Force cyber analyst of conducting a “rug pull” – an NFT-fueled scam where creators of NFTs fraudulently hype up their value and then abscond with the proceeds before the price crashes.
Court records show Rhoden was arrested earlier this week for the alleged scam. He was charged with one count of money laundering conspiracy and one count of making a false statement to a federal agency. In an email to, his federal public defender, Adam Allen, declined to comment. On Thursday Rhoden was released on a $20,000 bond.
Investigators also subpoenaed Rhoden’s search history, which included what prosecutors called “incriminating searches.”